Accountability as Pragmatic Philosophy: Basis for Economic Revival in Nigeria

Abstract

A virile, viable and strong economy anywhere in the world is a product of a “pragmatic philosophy” that is anchored on public accountability. Accountability as a pragmatic philosophy presupposes a natural unhindered tendency or impulse intrinsically flowing from personal conviction that giving account is necessarily good in itself. It requires one to freely and voluntarily give account of his actions without waiting to be challenged, seeing it as a necessary condition, an indispensable requirement for the survival of an economy and the development of a nation. The benefits of accountability, notwithstanding, include ensuring public trust and confidence as well as vindicating one who is entrusted with public resources or funds. It shows that one’s actions are guided by the rule of law, fairness and social justice. Regrettably, accountability has been elusive in Nigeria, resulting to high rate of corruption, looting of public treasury, abuse of power - the bane of economic doldrums and chequered development of the country. This paper therefore argued that without accountability, all efforts towards economic and social progress, justice and national development cannot be achieved in Nigeria because accountability eliminates corruption, embezzlement of public funds and wastages and promotes transparency, frugality and good governance which are conditio-sinequa-non to economic growth and national development.