CORRUPTION IN THE OIL AND GAS INDUSTRY: IMPLICATION FOR ECONOMIC GROWTH

Abstract

The paper examines corruption in oil and gas industry as implication for economic growth. Library research method was adopted for this study. The finding of the study is that the level of corruption in Nigeria has significant impact on economy growth. The implication of this finding is that economy cannot grow fast without zero tolerance in corruption. The study concluded that despite efforts of ICPC and EFCC corruption still remain problem to Nigeria economy. The study recommends that all the public loots should be thoroughly investigated and offenders once found guilt should e prosecuted and the loots taken back on the value of what has been stolen.