Adewole, A. M. and Osabuohien, E. S. C.
ANALYSIS OF THE COST OF GOVERNANCE AND OPTIONS FOR ITS REDUCTION IN NIGERIA.
Nigerian Journal of Economic and Social Studies.
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.
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