This Constitutional provision in Nigeria is one example of how a legal-institutional framework can create perverse incentive system and hence retard the process of economic transformation. On the other hand, there are several new laws and institutions which have unleashed the momentum for progress.
A few examples suffice: •  A programme of economic liberalization and deregulation which has enlarged the domain of businesses that private sector can get into, and see how it has unleashed progress in the airline industry, banking and finance, telecommunications sector, private universities, etc.