Analysis of the Cost of Governance and Options for its Reduction in Nigeria

Nigerian Journal of Economic and Social Studies, Volume 49, No. 1 (2007)

23 Pages Posted: 5 Oct 2015

Date Written: October 5, 2007

Abstract

Government at any given level and over a defined territory can be treated as a typical example of a natural monopoly in the sense that only one can exist at any particular time. Thus, the traditional theories of costs and monopoly can be very useful in the analysis of the cost structure of government. Like any other unchecked private monopoly, government and by extension governance, can produce sub-optimal units of public good in which it has comparative advantage. Depending on the resources at its disposal and the tax-elasticity of public goods, massive deadweight costs, among others, often result from a high cost governance structure. This paper explores the effects of destructive political competition. It suggests constitutional provisions that will guarantee true separation of powers, restructure the mechanism of governance to, among other measures, limit the size of the cabinet to reduce the high cost of governance in Nigeria.

Keywords: Governance, Costs, Predation, Nigeria

JEL Classification: D72, H11, H41

Suggested Citation

Adewole, Musiliu Adeolu and Osabuohien, Evans S. C., Analysis of the Cost of Governance and Options for its Reduction in Nigeria (October 5, 2007). Nigerian Journal of Economic and Social Studies, Volume 49, No. 1 (2007), Available at SSRN: https://ssrn.com/abstract=2669328

Musiliu Adeolu Adewole (Contact Author)

Elizade University ( email )

P.M.B. 002
Ilara-Mokin, Ondo State
Nigeria

Evans S. C. Osabuohien

Covenant University ( email )

P.M.B. 1023
Km 10 Idiroko road
Ota, Ogun State 234
Nigeria

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