Nigeria is a country that gained independent from the British colonial master since 1960 that will be approximately 48 years during this period Nigeria was practicing federalism to govern her people. During this period Nigeria economy as been a little bit satisfactory, but not satisfactory in the outside sense. Due to the fact that she can not boost of satisfying 50% of her citizen, leaving most of her citizen in abject poverty. Far gone Nigeria as odds with her economy, leading to low standard of leaving of her citizen to a low standard of living, they are giving second class level over the globe.
In point of fact, one may blame the leaders, because they where the once controlling the country economical source ruling out private ownership or let me call it privatization. The good the bad they all need to be blame, but sincerely the person I will not lay blames on his great AWO, ruling out nepotism he add visions for his mother land but he was not giving a chance to rule and administer. The little chance he hard was utilized by him neatly and that was while he was able to establish free education at primary and secondary level. I can go all the way to write is goods deeds but that is not my main motive of picking my pen to write. And I guess my main motive would have been made clear to my readers that deregulation as positive and negative effect to the nation's economy depending on how the country's private bodies can handle things in Nigeria.
From my own point of view deregulation as a lot of positive to Nigerian economy, because with deregulation been given a chance in Nigeria we will have private bodies handling the nation's economy or let me say petroleum industry and thus increasing and given rise to competition of service rendered.
it has increased the cost of living,made the cost of transportation high and even created job opportunities
corruption
It is the process we use to consume goods. actually in the Nigerian economy, capitalism is being practiced in paper while in the real context, Nigeria practives mixed economy because the key sectors of the economy like Oil, power, etc are being owned and handled by the government. For now nigeria has adopted many measures to transit from a mixed economic system to a capitalist economy such as the privatisation and comercialization of the Electric sector, Deregulation of the oil sector, etc. CONTRIBUTION BY AFOMACHUKWU OKAFOR ECONOMICS DEPT. ESUT
It would depend on what the deregulation was for but it is intended to make a particular market more competitive.
Yes it does Nigeria actually has the best economy in Africa
it has increased the cost of living,made the cost of transportation high and even created job opportunities
It has no effect
corruption
negative effect especially if they are pirated
Deregulation brings about efficiency in the oil sector as a result of heathy competitiin.
Effect of fuel subsidy removal in nigeria economy
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A mono economy refers to an economy heavily dependent on a single industry or sector. The effects of a mono economy include vulnerability to fluctuations in that industry, lack of diversification leading to economic instability, and limited opportunities for growth and development in other sectors. Additionally, a mono economy can hinder innovation and resilience in the face of external shocks.
It depends on the amount of it. Too much is bad but sometimes it is needed.
It is the process we use to consume goods. actually in the Nigerian economy, capitalism is being practiced in paper while in the real context, Nigeria practives mixed economy because the key sectors of the economy like Oil, power, etc are being owned and handled by the government. For now nigeria has adopted many measures to transit from a mixed economic system to a capitalist economy such as the privatisation and comercialization of the Electric sector, Deregulation of the oil sector, etc. CONTRIBUTION BY AFOMACHUKWU OKAFOR ECONOMICS DEPT. ESUT
It would depend on what the deregulation was for but it is intended to make a particular market more competitive.
is nigeria a market economy, or a custom based economy, or directed.