Nigeria’s socio-economic stability hinges on rule of law – Aniagolu-Okoye

The Regional Director of Ford Foundation West Africa, ChiChi Aniagolu-Okoye has emphasised the importance of the rule of law in achieving good governance and socio-economic stability in Nigeria.

Aniagolu-Okoye made the observation while speaking at the 2024 Annual Law Week of the Nigerian Bar Association (NBA), Enugu State chapter.

She noted that Nigeria’s current socio-economic challenges, including a declining gross domestic product (GDP) growth rate and rising inflation can be addressed by strengthening the rule of law.

“The rule of law is the foundation upon which socio-economic development is built. It guarantees equality, equity, human rights, and protection of basic freedoms, which are essential for attracting investments, promoting economic growth, and reducing poverty,” she said.

Aniagolu-Okoye also noted that socio-economic development, which refers to social conditions of equality, stable economic growth, guarantee of basic freedoms, employment/investment opportunities, access to social services, and predictability in terms of social order and security, depends largely on a society governed by the rule of law.

“This is because the rules of engagement in business, provision of services, and human relations must be seen to be fair and legitimate to give citizens and investors the confidence to flourish economically,” she emphasised.

Highlighting the critical role that lawyers and the NBA can play in promoting the rule of law and good governance in Nigeria, she urged lawyers to seize the moment and demand accountability from those in power.

“The NBA has a unique opportunity to shape the course of Nigeria’s history. By promoting the rule of law and good governance, lawyers can help create a society where every Nigerian can live with dignity, hope, and prosperity,” she said.