On the political economy of Nigeria – Tribune Online


In Nigeria, we don’t hate capitalism but the cruel actors who make it work. In fact, capitalism itself has never been a diabolical system and has its merits like all other existing economic modules, but the diabolical activities and unwelcoming behaviors of the actors surrounding capitalism have given the impression that the capitalism is bad and have shaped people’s impression to inevitably see it as bad.

Unlike any other system, capitalism is the only existing economic system that advocates that individuals run an economy with less or no government oversight and despite knowing a man’s selfish nature, it allows them to determine the price of goods. goods at the expense of the lower class who unfortunately make up about 70% of the Nigerian population.

Therefore, when you feel the need to believe that everything should be deregulated, including education, health and electricity, with the aim of improving it at the expense of lower-class citizens, then you encourage indirectly and work to keep the lower class wallowing in misery.

And worse is the situation of the oil industry; On this I can’t argue too much because even if I could, it wouldn’t make any sense for the government to have done it apocryphally and subtly in the way that only a few citizens can understand how it works.

The case of the electricity sector is one that raises a myriad of questions. Does deregulation make it affordable for citizens? Does this make power stable in the country? If you can answer these questions correctly, you can hardly support the privatization of such a sensitive sector. Gas is now fully deregulated but rather than making life easier people are now struggling to deal with the consequences of this decision and few can afford the cost especially as many people have lost their jobs while many do not have jobs and those who do are owed back wages already too low to meet their needs.

We then come to education and health. Even with free education at the basic level, some people find it difficult to enroll their children in education, especially those who hate western education in particular. Some still die for lack of funds to buy medicine after being diagnosed freely in public hospitals.

Think how many people will suffer when these sensitive sectors are transferred into the hands of wicked Nigerian capitalists who often look for opportunities to subjugate the weaker class through rising prices and many other unpleasant factors.

How do you think such a total capitalist system can operate successfully in a poor environment like Nigeria without subjecting the poor to additional misery? We must also consider the fact that our people are always busy looking for the slightest opportunity to enrich themselves before the other financially handicapped people in our society. Do you think with such greedy minds we can have a better society with this system? Never, I think.


Obviously, Nigeria has never grown enough to practice pure capitalism at present. Rather, we should argue for a system that will return a certain percentage of control to the government lest it be bruised by the iron hands of a greedy capitalist.

Let us first look at the status of the poor before we think of anything else because the poor are the government on their own, without them there will be no entity called government, much less talk about leaders or elites .

However, it is a fact that we like to see businesses thrive but in the hands of saner people with compassion and sympathy at its peak. Not in the hands of capitalist beasts who often wish to eat our flesh and add a burden to the yoke of the poor.

May poor Nigerians overcome all obstacles.

Yunusa, a social and political affairs analyst sent this Bauchi article via [email protected]

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