Analysis of Crime Rate and Economic Growth in Nigeria : The Institutional Challenges and Way Forward

Economically and socially deprived economies where levels of poverty, unemployment and underemployment are very high is bound to affect economic activities in such economy. When people are not fully employed, they are bound to engage in different types of crimes as a survival strategy. This paper analysed the effect of crime on economic growth as well as the challenges to effective crime prevention and control in Nigeria using descriptive statistics. Data were sourced from Nigerian National Bureau of Statistics (NBS) and World Development Indicators (WDI). Number of people serving prison terms was used to proxy crime rate and the findings showed the rate of crime increased over the study period. Increased crime rate has adverse effects on sustainable economic growth in Nigeria by driving away both foreign and domestic investors; low investment eventually increases unemployment and poverty. The challenges to effective crime prevention and control are corruption, poverty, family issues and poor motivation for the Nigerian Police Force. Based on the findings, the study recommends an increase in economic activities that will help to increase employment, reduce poverty and also reduce crime in Nigeria