HNosegbe: According to you know who, we practice a plutomobokakistocracy (or something like that)...

sharubutu: @op, sorry to ask; but which school did u attend? Besides, how did this kindergarten piece get to the FP? It's baffling!

ITbomb: Nigeria lacks the basic identical philosophy or ideal. It is each to himself, it depends on where you find yourself.
If you are in the north where one person has N1bn in his account and the neighbor next door is looking for a good spot to sit and beg then we have Communism , if you are in business then it is Capitalism, if you are in government where people flock around you for tips then it is Socialism.
And each of these live comfortably with each other.

mr_king: First find out †ђξ meaning of both concept! Then choose which one you think is being practised in Nigeria! Back then in high school, I read we practice mixed economy! But from M̶̲̥̅γ̲̣̣̥ own point of view and observation as a Social scientist, Nigeria is a full blown CAPITALIST state! Fvck what ever any teacher or book says! In social science, there's no one defination of a concept! In most cases, we disagree to Agree! There's nothing like mixed economy!! Is either you're here or there!! Malaysia is a very good example of a Socialist state. There, †ђξ Government owns almost all †ђξ means of Production and services! †ђξ Government provides all you need to survive as a citizen of that country! A pauper can own a house, good car, good health, and all that! No room for exploitation and slavery! Which CAPITALISM is known for!!

sunkoye: full blown capitalist keh! keynesian theory of general relativity messed u up!

sunkoye: full blown capitalist keh! keynesian theory of general relativity messed u up!

yemmit90:

May God bless you!

Aside the fact that Nigeria practice mixed economy,there's no absolute capitalism or socialism anywhere in the world.

EricDonn: The whitemen came up with those theories from their understandn and experience of what was happening in their home country, now in Nigeria our economic system doesn't fall into any of these classes, i tink its a challenge for our intellectuals to come up wit an economic theory dat can explain what is being practised here

Jarus: Actually, Nigeria is practising mixed economy, tilted more towards socialism (very large public sector) before, but now leaning more to capitalism.

Pre-IBB(pre-independence, thru first republic, Murtala, Buhari up to IBB): Mixed, tilting towards socialism

Post-IBB(esp Obj): Mixed, with greater capitalist bend).

yemmit90:

May God bless you!

Aside the fact that Nigeria practice mixed economy,there's no absolute capitalism or socialism anywhere in the world.

mr_king:

Every sector in Nigeria smells capitalism!

wirinet: I disagree with people that says we are practicing a mixed economy, we are sliding fast into absolute capitalism. The government has been selling all our collective assets to private individuals (cronies). The few assets left are the four refineries(which we are benefiting little from), NTA and FRCN, the airports, federal roads (some of which will be concessioned), the sea ports( heard some had been concessioned), the federal universities, polythechnics, and colleges of education (they have been commercialized), the newly revived railways, and a few others. Even the federal hospitals are being run like private concerns inspire of their high fees and poor services. So what social services is the government providing its citizens to have some semblance of socialism.

akintun: Dis is no debate, Nigeria practice extreme capitalism. D developed world try to amend d capitalist system by introducing social benefit 4 d less privilege, but 4 naija u are on ur own.

taiocol: ceteris paribus. Naija practise mixed economy

Jarus: Actually, Nigeria is practising mixed economy, tilted more towards socialism (very large public sector) before, but now leaning more to capitalism.

Pre-IBB(pre-independence, thru first republic, Murtala, Buhari up to IBB): Mixed, tilting towards socialism

Post-IBB(esp Obj): Mixed, with greater capitalist bend).

Danhumprey:
I keep wondering which type of economics system we are practising in this country. At times,it's get confusing,as it's keep swinging from Socialism to Capitalism and vice versa.

What economics system are we really practising?