LIST OF REASONS

Deregulation , defined as the reduction or elimination of government oversight within specific industries, has emerged as a critical policy direction for fostering market competition and stimulating economic growth in Nigeria . The government has increasingly argued that deregulation allows businesses to operate with fewer bureaucratic constraints, thereby freeing up capital and resources that can be reinvested into further innovation and expansion. In Nigeria’s context, proponents of deregulation contend that by transferring the role of supplier from the government to the private sector, particularly in strategic areas like the petroleum industry, market forces can determine prices more efficiently, leading to a more dynamic and responsive economic environment (Stiglitz, 1989). Deregulation stimulates competition, ensures efficiency, and promotes transparency in the economy of Nigeria. Extensively, the issues are hereunder discussed.  One of the core arguments for deregulation, as...

The National Broadcasting Commission (NBC), established in 1992 by Decree 38,  serves as Nigeria’s apex regulatory authority for the broadcast industry. It derives its powers from the NBC Act Cap N11, Laws of the Federation of Nigeria, 2004. The Act mandates the Commission to license, monitor, and regulate the industry while also addressing public complaints. However, the NBC faces significant challenges in fulfilling its responsibilities , particularly in regulating certain content—especially political broadcasts—which have become increasingly pervasive. Additionally, the Commission is frequently accused of inaction or bias in favor of certain interests, despite its statutory duty to address public complaints and enforce broadcasting regulations. NBC regulates broadcast stations, accredits educational programs, enforces ethical standards, and mediates industry conflicts. Pundits explain that the National Broadcasting Commission was established to create a regulatory framework that...

Industrialization is the process of transforming an economy from one based primarily on agriculture and raw material extraction into one centered on manufacturing and production. It involves the adoption of modern technologies, increased mechanization, and structural shifts that boost productivity, foster innovation, and drive economic growth. Poor industrialization in Nigeria results from inadequate access to credit, emanates from insufficient skilled labour, and among other things, suffers insecurity in the country. Authors explain that Nigeria’s failure to transition from an extraction-based economy to a manufacturing powerhouse largely stems from its chronic inability to secure sufficient credit. They argue that industrialists often refuse to share ownership of their enterprises with potential investors, a decision that limits the infusion of necessary capital. Banks and financial institutions impose onerous loan requirements and steep interest rates, while government policies exh...