PERFECT SOLUTION TO 58 YEARS OF ECONOMIC PROBLEM OF NIGERIA
by Ajimoko odunayo
Since independence of Nigeria from 1960 till now,as a nation we have found it hard to turn Nigeria to a highly developed nation.But there is one bitter truth,a nation can not be fully developed if her citizens are wallowing in poverty.I hereby come up with these perfect solutions that will make Nigeria and her citizens become highly developed through economic freedom.
Economic freedom is the ability to prosper through the free exercise of economic activity while letting others do the same.
The five principles of economic freedom: property rights, rule of law, free trade, a constitutionally limited government and sound money supply have a proven record of generating long-lasting economic growth, opportunity and prosperity. It is the difference between nations that thrive and those that linger in poverty and corruption. A country or state that upholds these principles see less poverty, more jobs, better quality of life, healthier environments and longer life expectancy in their societies. Now more than ever,as libertarians it is our responsibility to defend the principles of economic freedom as the best way forward for the Nigeria. For libertarians, freedom entails the right of people to live their lives any way they choose, so long as their conduct is peaceful. For conservatives, freedom entails the right of government to do just about anything it wants, even if its conduct is violent. Any society that would give up a little liberty to gain a little security will deserve neither and lose both.
(1) Property Rights: Clear and well-defined rules of authority that determine how a resource is used should be free from corruption and fully enforced by the state to allow us to confidently improve or invest in our private property and ideas.
(2) Rule of Law: Concise, consistent and systematic enforcement of three fundamental democratic principles: supremacy of law, equal protection under the law and impartial enforcement for infractions of the law, provide us all with a clear understanding of available options and empowers us
to better plan our choices.
(3) Free Trade/Open Markets: This system allows nations to compete in the global market by producing high quality/low cost goods and services to consumers. It also provides incentives for countries to open new business opportunities and create jobs.
(4) Constitutionally Limited Government: The role of government is to uphold and protect the Constitution of the Nigeria. Unlimited government gets in the way of prosperity by passing regulations that create dependency and stifle opportunity for individuals and businesses to thrive. A limited government allows the people to control government intervention through representation and the power to vote.When the people fear their government, their is tyranny; when the government fears the people, there is liberty.
(5) Sound Money Supply: Protecting the value of our naira protects our investments and enables job creation, which directly impacts our opportunity and prosperity in the Nigeria.This the secret of any advance nation anywhere in the world.Nigeria must be economically libertarian before our nation can achieved rapid development.This is a perfect solution to Nigeria economic problem,any other solution will just be a jamboree.
A libertarian is a person who believes that no one has the right, under any circumstances, to initiate force against another human being, or to advocate or delegate its initiation. Those who act consistently with this principle are libertarians, whether they realize it or not. Those who fail to act consistently with it are not libertarians, regardless of what they may claim.Economic freedom gives individuals equal economic opportunity, full control and responsibility of their property, skills and ideas. It reduces poverty and improves our well-being and the future of our families. Studies show that individuals who live in countries that are economically free enjoy more economic security. For many who have left their native country looking for a better life in the advance nations, the principles of economic freedom are proven to be key in their long-term success.
To God be the glory