Nigeria
Economics
Oil and Petroleum

What is the effect of deregulation on Nigeria's economy?

Answer

Wiki User
04/15/2010

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.