Indeed, the Nigerian version of ‘small-government-market-activism’ was started by IBB , shunned by Abacha and reincarnated by OBJ . The actions or inactions of Yar’adua , GEJ portrayed them as, at best, neutral or uncommitted.
The market system must be appropriately guided especially in a developing economy with severe structural defects. Besides, putting more money into the purse of state governments doesn’t provide any solution to their rent-seeking and unproductive culture of over- dependence on government transfers. It is therefore too early to celebrate!
By 2010 Nigeria was ranked amongst the poorest countries in the World, with more than 54 million people -36% of the population- living in extreme poverty.First, it is important to sequence implementation. Other transformative interventions will seek to address the capacity of micro- and small enterprises, to increase aggregate productivity and absorb relevant skills; to re-build social and economic infrastructure to enhance the productive base of the rural economy and build resilience. Interventions to create economic opportunities for the economically marginalized demographics will represent significant implication for social cohesion and national security.
Reach out to the most vulnerable in society through Social Protection Programmes that provide income support to adults without livelihoods.
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