Abstract
This study is an examination of the implications of the cost of governance on socio-economic development in Nigeria using Secondary data. The study found that of the over 20 years of uniterrupted democracy, there has been high petroleum revenue and borrowing for various deficit budgeting. This is accompanied by high recurrent and less capital budgeting which makes the negligible resources left to be used for capital projects, unable to encourage the desired socio-economic development. Some factors responsible for this high cost of governance are discussed amongst which are; the size and structure of governance, duplication of government functions and corruption. It is the conclusion of this study that the cost of maintaining government institutions is very high without anything to show for it. The study recommends accountability and infrastructural development to move to a better level, Nigeria’s present state of socio-economic development.
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