The World Bank has highlighted Nigeria's ongoing struggle with institutional corruption, emphasizing the critical need for comprehensive reforms to drive sustainable national development.

During a recent policy dialogue hosted by Agora Policy and MacArthur Foundation, key stakeholders delivered a stark assessment of corruption's devastating impact on Nigeria's potential. World Bank Country Director Ndiamé Diop underscored the systemic challenges, particularly in fiscal transparency and data management.

"Our current data systems are riddled with manual processes that create opportunities for leakage," Diop explained. "Genuine transparency requires accurate, reliable data – something Nigeria has yet to consistently achieve."

MacArthur Foundation's Africa Director Kole Shettima was equally direct, stating that corruption has systematically undermined Nigeria's future. "Corruption has robbed our youth of opportunity and denied fundamental necessities like infrastructure and education," he said.

Adele Jinadu, a Senior Fellow at the Centre for Democracy and Development, described the situation as a moral crisis. "We seem to have lost our ethical compass," Jinadu observed. "The abuse of power has reached unprecedented levels of impunity."

The experts collectively called for sweeping reforms, including:

- Restructuring the political recruitment process

- Strengthening institutional frameworks

- Reforming the judicial system

- Enhancing anti-corruption mechanisms

Their message was clear: without addressing institutional corruption, Nigeria cannot realize its full economic and social potential.