Effect of Rent-Seeking on Economic Development in Nigeria
Political Science — 2025, Undergraduate
This study examined the effect of rent-seeking on economic development in Nigeria. Secondary data on resource revenues and development indicators were analysed together with interviews of economists and policy analysts. The findings revealed that rent-seeking, particularly around natural resource revenues, distorted incentives, fostered corruption, and diverted resources from productive investment, thereby constraining economic development. The study observed that institutional weaknesses enabled rent capture. It recommends institutional reforms, transparent resource governance, and diversification of economic activities.
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