| Abstract: | Nigeria's abundant natural resource endowments should earn the country's bragging rights as the “Giant of Africa”. Instead, 52 years of corrupt practices among the often recycled ruling elites in post-independence Nigeria have crippled this giant and turned what should be one of the country's strongest assets – its vast oil wealth – into a curse. This article critically examines the concerns for corruption as an enduring obstacle to Nigeria's development writ large. After providing a historical trajectory of corrupt practices in Nigeria from the mid-1980s to the present, it discusses some of the recent corruption scandals in the country, in particular the issues surrounding the US$6.8 billion that was drained from Nigeria between 2009 and 2012 in the fuel subsidy scam. The conclusion makes a case for the reworking of a pervasive system in Nigeria that “pardons” corruption and “recycles” corrupt rulers. |
