Leadership challenges and economic development in Nigeria

Political economists are of the view that economic development does not happened by accident in any country rather; it is the result of careful planning and efficient allocation of resources under a leadership that is committed to achieving that task. Nigeria has enjoyed over five decades of political freedom without meaningful development. The study identified bad leadership as the primary threat holding Nigeria's economic greatness in the past and at present. Specifically, these problems are corruption, running an expensive democratic system, and the immunity of prosecution enjoyed by political office holders for as long as they are in power. The Nigerian economy has for decades remained physically handicap because all monies and materials that are provided meant for developmental projects were either end up in private pockets or being mismanaged. On the Nigerian democratic system, Nigeria is the only country in the world that spent over 80% of its national income on politicians and political processes rather than on physical developmental projects. The study suggested an emergency for a thorough sanity in the Nigerian body politic. On the aspect of corruption, no country can develop in the hands of parasites; against this background, stiff penalties must be introduced even if it means capital punishment. That wills guarantee the possibility of a corrupt-free Nigeria and the realization of practical development.