Why We Feel Unsafe When We Get Rich? Review on the Empirics of Corruption, Oil Rents and Insecurity in Nigeria - Open Journal of Social Sciences

JSS > Vol.8 No.5, May 2020

Open Journal of Social Sciences

Volume 8, Issue 5 (May 2020)

ISSN Print: 2327-5952 ISSN Online: 2327-5960

Google-based Impact Factor: 1.63 Citations

Why We Feel Unsafe When We Get Rich? Review on the Empirics of Corruption, Oil Rents and Insecurity in Nigeria ()

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Download as PDF (Size: 394KB) PP. 141-153

DOI: 10.4236/jss.2020.85009 455 Downloads 1,466 Views Citations

Author(s)

Ding Chen^1,2, Umar Muhammad Gummi^1,3*, Junping Wang¹, Asiya Mu’azu³

Affiliation(s)

¹School of Economics and Management, Xi’an Shiyou University, Xi’an, China.
²Department of Economics, University of Kansas, Lawrence, KS, USA.
³Department of Economics, Sokoto State University, Sokoto, Nigeria.

ABSTRACT

The empirical submissions that oil rents cause internal conflict have been widely supported by many researchers but criticized on the basis that oil dependence and conflict are influenced by other factors endogenously. In this paper, we review the empirics and interaction between corruption, oil rents and insecurity in Nigeria. Based on the theoretical submissions of the “Resources Curse Thesis”, the paper argues that Nigeria’s security challenges are more or less driven and triggered by corruption and oil rent, and the fact remains that oil rents tend to affect all economic activities, shaping the political system which certainly presents a reasonable explanation for both economic and political “Dutch Disease”. However, we upheld the proposition that due to corruption, oil is problematic because the unearned income received by the government from oil rents leads to the neglect of other key aspects of the economy especially peace and social security.

KEYWORDS

Corruption, Oil Rents, Insecurity, Dutch Disease, Resources Curse

Share and Cite:

Chen, D. , Gummi, U. , Wang, J. and Mu’azu, A. (2020) Why We Feel Unsafe When We Get Rich? Review on the Empirics of Corruption, Oil Rents and Insecurity in Nigeria. Open Journal of Social Sciences, 8, 141-153. doi: 10.4236/jss.2020.85009.

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