Governance and the challenges of economic development in Nigeria

The study explains that covetous value orientation for money and property - a ‘wrong doing’ that is accepted as a way of life, stifles democracy and development in Nigeria. Nigeria requires transformation, but consensus hardly exist to leapfrog the country into greatness, instead individualistic and primordial sentiments coupled with greed forms basis of existence. Respect and recognition are earned by the amount of material wealth and money one possesses, and the means of verifying the authenticity of unlawful accumulation is weak. Even if wealth is genuinely established to be stolen, the system cannot be trusted to expend justice. Elites are greedy, reprehensibly acquisitive of property that does not generate from industry and intelligence. The essence of governance – which is to provide basic human needs is lacking. In the way of the elites, citizens carries the mentality of acquiring everything, to live like the ‘big man’ who lives large from stolen wealth and get respect and recognition from the same downtrodden people. Good governance that inspires patriotism, refined property right, tax system including entrenchment of rule of law is needed.