NIGERIA!!NLC,TUC BOTH HAVE NO ECONOMIST BY ABDULMUMINI ADEKU..

 

NIGERIA!!NLC,TUC BOTH HAVE NO ECONOMIST

BY ABDULMUMINI ADEKU..

It is very strange but yet very true ,that both of The Nigerian Labour Congress[N.L.C]and the Trade Union Congress of Nigeria [T.U.C] both have no team of economists to advise them on quarterly basis within which they are to form a structured opinion on matters regarding the Nigerian state and the global community.

Analysts find  it very strange that the issue of fuel hike is raising so much dusts from the organized trade unionists even when they could have done the nation a favor by being sincere in there pursuits .

For example ,it is generally a known fact that apart from being a petroleum dependent economy ,Nigeria produces lesser than it consumes .

Aside from the aforementioned is the issue of the proper regulation of Nigeria's population demography with more Nigerians competing a lesser volume or quantum of resources.

An Economist [names with held] with  the Lagos State University Ojo in Lagos,Nigeria lamented the fact that subsidy removal as far as the oil and gas sector was concerned is only beneficial to a tiny portion of the population .

He disagreed with the trade unionists decision to go on strike but was quick to agree to the fact that an act of Parliament should be put in place to check the nation's population demography..

According to him ,it is pertinent to note that many people who were not productive in any way in the nations value chain were giving birth to more than four children and marrying more than one wife thus creating problems for the entire system as people available far out weights the resources available ..

What Is Economics?

Introduction

Economics is about making choices. We make all kinds of choices every day. How much should I spend on gas? What’s the best route to work? Where should we go for dinner? Which job or career should I go for? What are the pros and cons of finishing college versus taking a job or inventing the next, best Internet startup? Which roommate should take care of washing the dishes? Can I get that dog as a pet? Should I get married, have children, and if so, when? Which politician should I vote for when they all claim they can improve the economy or make my life better? What is “the economy,” anyway? What if my personal or religious principles conflict with what people tell me is in my best economic interest?

Many people hear the word “economics” and think it is all about money. Economics is not just about money. It is about weighing different choices or alternatives. Some of those important choices involve money, but most do not. Most of your daily, monthly, or life choices have nothing to do with money, yet they are still the subject of economics. For example, your decisions about whether it should be you or your roommate who should be the one to clean up or do the dishes, whether you should spend an hour a week volunteering for a worthy charity or send them a little money via your cell phone, or whether you should take a job so you can help support your siblings or parents or save for your future are all economic decisions. In many cases, money is merely a helpful tool or just a veil, standing in for a partial way to evaluate some of the goals you really care about and how you make choices about those goals.

You might also think economics is all about “economizing” or being efficient–not making foolish or wasteful choices about how you spend or budget your time and money. That is certainly part of what economics is about. However, that’s just the tip of the iceberg. We all know that we can save money or time by being more efficient in our planning. A trip to the supermarket can be coordinated with a trip to take your child to school or to deposit a check at the bank across the street to save on gas. But we sometimes don’t choose the most efficient options. Why not? Economics is also about plumbing the depths of why we sometimes do and sometimes don’t make what seem like the most economizing or economical choices.

Is economics a science (like physics), or is it a social science, or even an art? What is the difference, and what do we know about what we can’t or don’t know for now? Can economic problems be solved by better government, more experts, bigger computers, more engineering, better education, less government, more dispersed knowledge, more markets? How can we make informed choices?

You’ve probably heard that economists disagree about a lot of things. Actually, what economists disagree about is politics or public policy, not economics. Exploring the interface between politics and economics is part of the fun.

WITH ADDITIONAL INFORMATIN FROM GOOGLE,WIKIPAEDIA