What are the main problem of Nigeria?

The major factors hurting the Nigerian economy include inflation, unemployment, government policy, monetary policies, inadequate infrastructures and power supply, inadequate health facilities, insecurity, ineffective leadership and corruption, and over-reliance on oil.

What are the causes of bad governance in Nigeria?

Causes

• Lack of Voice and Weak Accountability.
• Political Instability.
• Corruption.
• Poor Economic Growth.
• Corruption.
• Transparency.
• Dealing with Corruption.

How is federalism described?

Overview. Federalism is a system of government in which the same territory is controlled by two levels of government. Both the national government and the smaller political subdivisions have the power to make laws and both have a certain level of autonomy from each other.

How has inflation affected Nigeria economy?

Though much has been written about inflation, all the authors agree that it has an impact on Nigerian economic growth. During inflationary period, fixed amount of money buys less quantity of goods and services. The real value of money is drastically reduced i.e. the purchasing power of money of consumers are reduced.

How does poverty cause poor governance?

The Governance Model asserts that corruption affects poverty by influencing governance factors, which, in turn, impact poverty levels. First, corruption reduces governance capacity, that is, it weakens political institutions and citizen participation and leads to lower quality government services and infrastructure.

When did federalism start in Nigeria?

Before and right after independence Bernard Bourdillon the Governor-general at that time initiated and laid the foundation of federalism in Nigeria in 1939 by creating three provinces. He later handed over the constitution to his successor Arthur Richards and it became the Richards Constitution of 1946.

What is federalism short answer?

Answer: Federalism is a system of government in which the power is divided between a central authority and various constituent units of the country. This vertical division of power among different levels of governments is referred to as federalism.

What is corruption describe its causes and evil consequences?

Corruption is the misuse of public power (by elected politician or appointed civil servant) for private gain. Corruption is the misuse of entrusted power (by heritage, education, marriage, election, appointment or whatever else) for private gain.

What are the effects of corruption in the economy?

However, just as elsewhere in the world, the negative effects of corruption are the same; it reduces foreign direct and domestic investments, increases inequality and poverty, raises the number of freeloaders (renters, free-riders) in the economy, distorts and exploits public investments and reduces public revenues.

How does corruption affect the economy?

Because corruption creates fiscal distortions and redirects money allocated to income grants, eligibility for housing or pensions and weakens service delivery, it is usually the poor who suffer most. Income inequality has increased in most countries experiencing high levels of corruption.