A method for inhibiting erosion (wear)-corrosion of downhole components in a secondary lift system, the method comprising: introducing a corrosion inhibitor and a lubricating agent into a wellbore; allowing the corrosion inhibitor and the lubricating agent to mix with a produced fluid to form a mixture; and recovering the mixture from the wellbore through a production tubing, wherein the corrosion inhibitor and/or the lubricating agent contact one or more of the downhole components of the secondary lift system. A system for inhibiting wear in secondary recovery comprising: a casing disposed in a producing wellbore; a production tubing extending into the casing; a downhole equipment disposed in the production tubing, wherein the downhole equipment comprises at least one equipment selected from the group consisting of a sucker rod, a plunger, and an electrical submersible pump; a treatment fluid for introduction into an annulus disposed between the casing and the production tubing.