The Nigeria 1999 economic policy and objective: An unfulfilled mission of expectation

Author:Ajagbe Toriola Oyewo
Position:Professor A. Toriola Oyewo Ph.D (Law), Ph.D (Admin). MPA, M.phil, MA, MILGA ACIS, FCE (Nig.) FCE (Ghana) BL, Jp, Profesor of Law, Lead City University, Ibadan
Pages:31-43
SUMMARY

The 1999 Constitution of Nigeria contains beautiful provisions for economic policy and objective under chapter two of the country’s fundamental objectives and direct principles of the state policy. And by section 16 of the said Constitution, the economic objectives of the state are well spelt out that if followed to the letters, Nigeria would have been a paradise on earth and a country to be... (see full summary)

 
FREE EXCERPT
AGORA International Journal of Juridical Sciences, www.juridicalj ournal.univagora.ro
ISSN 1843-570X, E-ISSN 2067-7677
No. 3 (2014), pp. 31-43
31
THE NIGERIA 1999 ECONOMIC POLICY AND OBJECTIVE:
AN UNFULFILLED MISSION OF EXPECTATION
A. T. Oyewo
Ajagbe Toriola Oyewo
Professor A. Toriola Oyewo Ph.D (Law), Ph.D (Admin). MPA, M.phil, MA, MILGA ACIS,
FCE (Nig.) FCE (Ghana) BL,
Jp, Profesor of Law, Lead City University, Ibadan.
www.facebook.com/pages/Moboluwaduro-Chamber-by-Prof-Ajagbe-Toriola-Oyewo
Abstract
The 1999 Constitution of Nigeria contains beautiful provisions for economic policy
and objective under chapter two of the country’s fundamental objectives and direct principles
of the state policy. And by section 16 of the said Constitution, the economic objectives of the
state are well spelt out that if followed to the letters, Nigeria would have been a paradise on
earth and a country to be recognized as a developed nation. But alas, the operators of the
Constitution have woefully failed in this direction. Thus the majority of the people in Nigeria
are left to wallow in despicable hunger, unemployment, poor living condition and lack of
many indices of social and welfare developmental services.
The condition is so bad that unless all these unpalatable and monumental factors are
well addressed, the country may sooner or later reach its waterloo of extinction.
Introduction
The people of the Federal Republic of Nigeria have made a Constitution in 1999 for
the purpose of promoting the good government and welfare of all persons in their country on
the principles of freedom, equality and justice, and for the purpose of consolidating unity
among themselves.
It must be noted however that CHAPTER II of the said Constitution deals with the
FUNDAMENTAL OBJECTIVES AND DIRECTIVE PRINCIPLES OF STATE POLILCY,
while section 16 of it deals essentially with the economic objectives of the state.
The provisions in section 16 may be stated essentially in a nutshell as follows:
1. That the state should control the resources of the Nation in such a way as to
promote national prosperity for every citizen on the basis of social justice and equality of
status and opportunity.
2. That the state should control the national economy in such manner as to secure the
maximum welfare, freedom and happiness of every citizen on the basis of social justice and
equality of status and opportunity.
The state should protect the right of every citizen to engage in any economic activities
outside the major sectors of the economy.
3. Lastly it is provided that the state shall direct its policy towards ensuring
(a) The promotion of a planned and balanced economy.
(b) That the material resources of the nation are harnessed and distributed as best as
possible to serve the common good.
(c) That the economic system is not operated in such a manner as to permit the
concentration of wealth or the means of production and exchange on the hands of few
individuals or a group; and
(d) That suitable and adequate shelter, suitable and adequate food, reasonable national
minimum living wage, old care and pensions, and unemployment, sick benefits and welfare of
the disabled are provided for all citizens.

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