%0 Journal Article
	%A Francis O. Iyoha and  Daniel E. Gberevbie and  Charles T. Iruonagbe and  Matthew E. Egharevba
	%D 2015
	%J International Journal of Economics and Management Engineering
	%B World Academy of Science, Engineering and Technology
	%I Open Science Index 97, 2015
	%T Cost of Governance in Nigeria: In Whose Interest?
	%U https://publications.waset.org/pdf/10000337
	%V 97
	%X Cost of governance in Nigeria has become a challenge
to development and concern to practitioners and scholars alike in the
field of business and social science research. In the 2010 national
budget of NGN4.6 trillion or USD28.75billion for instance, only a
pantry sum of NGN1.8trillion or USD11.15billion was earmarked for
capital expenditure. Similarly, in 2013, out of a total national budget
of NGN4.92trillion or USD30.75billion, only the sum of
NGN1.50trllion or USD9.38billion was voted for capital expenditure.
Therefore, based on the data sourced from the Nigerian Office of
Statistics, Central bank of Nigeria Statistical Bulletin as well as from
the United Nations Development Programme, this study examined
the causes of high cost of governance in Nigeria. It found out that the
high cost of governance in the country is in the interest of the ruling
class, arising from their unethical behaviour – corrupt practices and
the poor management of public resources. As a result, the study
recommends the need to intensify the war against corruption and
mismanagement of public resources by government officials as
possible solution to overcome the high cost of governance in Nigeria.
This could be achieved by strengthening the constitutional powers of
the various anti-corruption agencies in the area of arrest, investigation
and prosecution of offenders without the interference of the executive
arm of government either at the local, state or federal level.

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