Crony capitalism in Nigeria: the case of patronage funding of the Peoples Democratic Party and the power sector reform, 1999–2015. Issue 170 (2nd October 2021)

• Record Type: Journal Article
• Authors: Albert, Okorie; Abada, Ifeanyichukwu; Adibe, Raymond
• Is Part Of: Review of African political economy. Volume 48:Issue 170(2021)
• Page Start: 581
• Page End: 608
• Publication Date: 2021-10-02
• Subjects: Political party -- party financing -- power sector reform -- crony capitalism -- Nigerian political economy -- primitive accumulation; Parti politique -- financement des partis -- réforme du secteur de l'électricité -- capitalisme de copinage -- économie politique nigériane -- accumulation primitive; Africa -- Economic conditions -- Periodicals; Africa -- Social conditions -- Periodicals; 330.96
• DOI: 10.1080/03056244.2021.1958309
• Languages: English
• ISSNs: 0305-6244

Abstract

ABSTRACT: The article argues that cronyism in the funding of the Peoples Democratic Party (PDP) explains the dismal record of the recent power sector reforms in Nigeria. It implies that the reforms were packaged by the then PDP-led government to benefit their major campaign financiers with contracts; thus, within this period the party financiers were able to assume a commanding position in the sector. The article further contends that the funding regime in the party reinforces corruption as financiers leveraged on their contributions to the party to ensure that the reform processes and outcomes reflected their economic interests. The case exemplifies the crony relationship between the business and the political class (that ought to act as the regulatory body), which is skewed towards primitive accumulation.