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Vision 5: Institutions and Why They Matter (Contd)
In Nigeria, after the era of military rule from 1984 to 1999, the return of Democracy in 1999 saw an effort to develop institutions. This happened largely under the Olusegun Obasanjo presidency.
Vision 5: Institutions and Why They Matter (Contd)
In Nigeria, after the era of military rule from 1984 to 1999, the return of Democracy in 1999 saw an effort to develop institutions. This happened largely under the Olusegun Obasanjo presidency.
Examples of institutions established in this period included the Economic and Financial Crimes Commission (EFCC @officialEFCC ), Independent Corrupt Practices Commision, Pension Commission @PenComNig , Bureau of Public Enterprises, and Buteau of Public Procurement @BPP_NG.
These institutions were all created by legislation, giving them a sound basis in law and public policy. Although their track record has been mixed, their existence has created an institutional foundation on which we can build, with better governance, to make them more effective.
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VISION 5: INSTITUTIONS AND WHY THEY MATTER
To understand the state of development of any country, just look carefully at its institutions. Do they exist? If so, how strong and robust are they? Institutions are the foundation of modern statehood.
VISION 5: INSTITUTIONS AND WHY THEY MATTER
To understand the state of development of any country, just look carefully at its institutions. Do they exist? If so, how strong and robust are they? Institutions are the foundation of modern statehood.
By institutions we mean the structures of social order that organize and govern our individual behavior in a society, the conduct of the political leadership and government, and economic activity: the judiciary, military, security agencies, @cenbank , @inecnigeria etc
Institutions matter for four main reasons. First, because their basic function is to secure the security and stability of the state. They are meant to guarantee internal order and cohesion, and even protection from external threats such as military aggression. In today’s
