BIOGRAPHY AND LIFE OF NIGERIAN BUSINESSMAN AND POLITICIAN, ATIKU ABUBAKAR.
Atiku Abubakar was the 11th Vice President of Nigeria from 1999 to 2007. He is a politician, business owner, and philanthropist. In 2019, he ran for president of Nigeria as a candidate for the People’s Democratic Party (PDP), but he lost to Muhammadu Buhari, who was running for the party that was already in power.
EARLY LIFE AND EDUCATIONAL BACKGROUND
Atiku Abubakar GCON was born in Jada, Adamawa State, on 25 November 1946 to Garba Abubakar and Aisha Kande. His sister died early, leaving him as his parents’ lone child. Abubakar’s father drowned in a nearby hamlet while he was young.
His father rejected Western education and wanted him to attend traditional school. Abubakar’s father was jailed for a few days because of that, until Aisha Kande’s mother paid the fine. Abubakar started school in Adamawa at age 8.
After finishing primary school in 1960, he joined 59 other pupils in Adamawa Provincial Secondary School. He graduated from secondary school in 1965 after making 3 grades on the WASSCE.
Abubakar attended Nigeria Police College in Kaduna after secondary school. He left the College because he couldn’t submit an O-Level Mathematics result and worked as a Tax Officer in the Regional Ministry of Finance until enrolling at the Kano School of Hygiene in 1966. He graduated in 1967 as Interim Student Union President.
On a government grant, he studied law at Ahmadu Bello University Institute of Administration in 1967. He joined the Nigeria Customs Service in 1969, during the Nigerian Civil War.
Abubakar served in the Nigeria Customs Service for 20 years, rising to Deputy Director; he left in April 1989 and moved into business and politics full-time. As a Customs Officer, he got into real estate.
Abubakar has 28 children from four spouses. He secretly married Titilayo Albert, 19, in Idi-Iroko in December 1971. Fatima, Adamu, Halima, and Aminu are Titilayo’s children.
In 1979, he married Ladi Yakubu. Atiku, Abba, Zainab, Ummi-Hauwa, Maryam, and Rukaiyatu are Ladi’s children.
He married Princess Rukaiyatu, late Lamido of Adamawa’s daughter, in 1983. Aisha, Hadiza, Aliyu, Asmau, Mustafa, Laila, and Abdulsalam are Princess Rukaiyatu’s children.
He wed Fatima Shettima in 1986. She has Amina, Mohammed, Ahmed and Shehu, Zainab and Aisha, and Hafsat.
After he divorced Ladi Yakubu, Atiku married a lawyer, Jennifer Iwenjiora Doughlas.
In 1974, he secured a loan to construct a rental property in Yola. He constructed a second residence using rent money. He built a large property portfolio in Yola, Nigeria.
In 1981, he began farming maize and cotton on 2,500 hectares near Yola. In 1986, the company closed. “My first attempt at farming in the 1980s failed,” he wrote in April 2014. He started trading rice, wheat, and sugar. In April 1989, he retired and entered business and politics full-time.
Abubakar’s best business move was as an Apapa Ports Customs Officer. Gabrielle Volpi, an Italian businessman in Nigeria, asked him to start Nigeria Container Services (NICOTES).
Atiku’s other businesses are in Yola, Adamawa, and include Adama Beverages Limited, an animal feed mill, and the American Institution of Nigeria (AUN), the first American-style private university in Sub-Saharan Africa.
Abubakar initially entered politics in the 1980s, when he worked on Bamanga Tukur’s gubernatorial campaign. He campaigned for Tukur and provided money.
He met General Shehu Musa Yar’Adua, second-in-command Chief of Staff, Supreme Headquarters, at the conclusion of his Customs career. Yar’Adua invited Abubakar to political discussions in his Lagos home, which led to the Peoples Front of Nigeria (PFN).
Umaru Musa Yar’Adua, Baba Gana Kingibe, Bola Tinubu, Sabo Bakin Zuwo, Rabiu Kwankwaso, and Abdullah Aliyu Sumaila were PFN members.
Abubakar was elected National Vice-Chairman of the Peoples Front of Nigeria in 1989. Abubakar was elected to represent his district in Nigeria’s 1989 Constituent Assembly.
The military administration refused to register the People’s Front, thus it united with the Social Democratic Party (SDP).
Abubakar ran for governor of Gongola State in 1990. A year later, before elections, the Federal Government split Gongola State into Adamawa and Taraba. Abubakar moved to Adamawa. He won the SDP primaries in November 1991, but the government disqualified him shortly after.
Abubakar ran in 1933’s SDP primaries. Moshood Abiola received 3,617 votes, Baba Gana Kingibe 3,255 votes, and Abubakar 2,066 votes in Jos. Abubakar and Kingibe combined 5,231 votes to challenge Abiola.
Shehu Yar’Adua urged Atiku Abubakar to withdraw, and Abiola promised to be his running partner. SDP governors encouraged Abiola to choose Kinigbe as his running partner in the June 12 election.
After June 12 and during General Sani Abacha’s transition, Abubakar indicated interest in running for governor of Adamawa State under the United Nigeria Congress Party. General Abacha’s death ended the transition program.
In 1998, Abubakar joined the Peoples Democratic Party (PDP) and later secured nomination for Governor of Adamawa State, winning the December 1998 governorship elections. Before he could be sworn in, he accepted a position as the PDP presidential candidate, General Olusegun Obasanjo, who went on to win the 1999 presidential election ushering in the Fourth Nigerian Republic.
Abubakar became Nigeria’s vice president on May 29, 1999. In his first tenure, he was Chairman of the National Economic Council and chairman of the National Council for Privatization, managing the sale of hundreds of loss-making and poorly managed state firms with Nasir El Rufai.
During Abubakar’s second stint as vice president, he and Obasanjo clashed. In 2006, Abubakar fought publicly with President Olusegun Obasanjo over the latter’s ambition to change the constitution to run again (Third Term Agenda).
The unsuccessful constitutional amendment provoked a divide in the PDP. The National Assembly blocked Obasanjo’s reelection.
Abubakar lost out with Olusegun Obasanjo in 2006 and quit the PDP for the ACN ahead of the 2007 elections.
Abubakar rejoined the PDP after the 2007 elections. He declared his candidacy in October 2010.
On November 22, a Committee of Northern Elders chose him over former Military President Ibrahim Babangida, former National Security Adviser Aliyu Gusau, and Kwara State Governor Bukola Saraki.
In January 2011, Abubakar ran for his party’s presidential nomination against President Jonathan and Sarah Jubril. He lost the primary with 805 votes to Jonathan’s 2736.
In a November 2013 interview, Abubakar said Obasanjo told him, “I left power twenty years ago, I left Mubarak in office, I left Mugabe in office, I left Eyadema in office, I left Umar Bongo, and even Paul Biya and I came back and they are still in power; and I just did eight years and you are asking me to go; why?” I told him, “Nigeria is not Libya, Egypt, Cameroon, or Togo; you must go, even if we both lose.”
On 30 March 2014, Nigerian media claimed that a team from the Northern Youth Leaders Forum visited Obasanjo at his house in Abeokuta and asked with him to “forgive your former vice-president, Alhaji Atiku Abubakar of whatever political fault or crime he may have perpetrated against you.” Obasanjo said, “As a leader and parent, I have forgiven everyone.
INEC registered two new parties in August 2013. PDM was one. Local media reports said Abubakar founded the party as a backup plan in case he couldn’t run for president on the PDP platform. Abubakar said that his “political allies” established the PDM, but he remained a PDP member.
Atiku Abubakar has run for Nigeria’s presidency six times since 1993, in 1993, 1998, 2007, 2011, 2015, and 2019. In 1993, he lost the SDP primaries against Moshood Abiola and Baba Gana Kingibe. The campaign for the 2023 presidential elections marks the seventh time he will be running.
In 1998, he ran for president, but General Sani Abacha ordered all five major parties to support him.
He was the Action Congress’s 2007 presidential candidate, finishing third behind Umaru Yar’Adua of the PDP and Muhammadu Buhari of the ANPP. He lost the PDP presidential primaries to incumbent President Goodluck Jonathan in 2011.
Abubakar declared his candidacy on November 25, 2006. On 20 December 2006, he was named Action Congress’s presidential candidate (AC). INEC issued the final list of 24 presidential candidates on March 14. Abubakar didn’t vote.
INEC said Abubakar’s name was absent because he was accused for corruption by a government tribunal. Abubakar sued to reverse his disqualification on March 16.
On 16 April, the Supreme Court declared that INEC couldn’t dismiss candidates. The verdict permitted Abubakar to run, although ballots bearing his name may not be ready by April 21, the election date. INEC confirmed Abubakar’s candidacy on April 17.
Abubakar placed third, behind Umaru Yar’Adua and Muhammadu Buhari, with 7% of the vote (2.6 million votes). Abubakar labeled it Nigeria’s “worst election ever” and demanded its annulment. He said he wouldn’t attend Umaru Yar’Adua’s inauguration on 29 May since the election wasn’t genuine. He didn’t want to “dignify such a meaningless ceremonial with my participation.”
Abubakar quit the People’s Democratic Party on 2 February 2014 and founded the All Progressives Congress to run for president in 2015. Muhammadu Buhari received 3,430 votes, Rabiu Kwankwaso 974, Atiku Abubakar 954, Rochas Okorocha 400, and Sam Nda-Isiah 10 in the APC presidential primary in Lagos.
In 2018, Abubakar ran for president and won the PDP nomination in Port Harcourt on 7 October. He won 1,532 votes, 839 more than Sokoto Governor Aminu Tambuwal.
Atiku Abubakar vowed to finish abandoned projects in Kogi State. He also visited the Emir of Daura in Katsina on 7 February 2019. However, Atiku defeated to President Muhammadu Buhari by almost 3 million votes on Feb. 27. The appellants called the election “the worst in Nigeria’s democratic history.”
Since then, conflict of interest claims have followed him due to his business activity as a supervisory federal worker. Abubakar has justified the choice, stating his engagement was restricted to share ownership (which government laws allowed) and he wasn’t engaged in day-to-day commercial operations.
His firm NICOTES was renamed INTELS and featured extensively in U.S. money laundering claims against Abubakar during his vice presidency.
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How To Get CBN Loan
How To Get CBN Loan
If you are planning to venture into a new business or to expand your existing business, a loan can help you achieve this financing goal. There are times when finding financial institutions to get loans from at affordable rates becomes a daunting task for a Nigerian business owner or a prospective business owner. Let’s look at how to get CBN loan.
The CBN provides various credit schemes and programmes designed to help you access credit facilities depending on the type of business you need the credit facility for. As a business owner, you have to understand the workings of financial institutions, to know the ones that can provide you the loan you need to keep your business operating. In this guide, we’ll discuss about CBN loans, what they entail, and how to apply for loans with the CBN.
The CBN is the Central Bank of Nigeria, it serves as the lender of last resort for the federal government of Nigeria, and is the bank for the banks. The CBN as the apex financial institution in Nigeria is in charge of the monetary policies of the country, the CBN is also in charge of managing the foreign reserves of the country. The CBN also has the responsibility of regulating the financial activities of all the banks in Nigeria. The CBN is in charge of issuing the legal tender currency of Nigeria and helps to maintain the financial systems in the country.
Does CBN Give Loans
Yes, the Central Bank of Nigeria provides a wide range of loan facilities for various economic schemes. The CBN provides these loan facilities are provided to help ramp up economic activities in the Nigerian economy. CBN loans approved are often disbursed to beneficiaries through the participating financial institutions. This means that potential applicants for these loans that potential borrowers are required to have an account with. The CBN offers loan facilities for as little as ₦500,000 and as much as ₦500,000,000, the loan amount you get disbursed to your account is dependent on your reason for applying for the loan.
Types of CBN Loans
The Central Bank of Nigeria makes available to its citizens different types of loans that are categorised depending on the needs of Nigeria’s economy and sectors of the economy needing funding support from the apex bank or government of the day. Some of the main types of loans given by the CBN include:
AGSMEIS Loan for SMEs and Agricultural Businesses
As a business applying for this loan you do not need to have collateral, this loan is open to SMEs and agricultural businesses. This loan allows you access funds up to to up to N10 million at an interest rate of 9%. This loan is disbursed by NIRSAL Microfinance Bank and other participating banks.
Accelerated Agricultural Development Scheme loan (AADS)
This loan is targeted at the youth to help engage them in agricultural production. To access this loan you need to be a Nigerian between the age of 18 – 35 years of age. You are required to sign an undertaking on the terms and agreements as directed by the CBN. You can get up to ₦1.5 millions at an interest rate of 9%.
Micro, Small, and Medium Enterprises Development Fund MSMEDF Loan
This loan is targeted at SMEs, the instruction is that this loan should be given to available SMEs and micro-enterprises, to get this loan you need to be involved in any of these kinds of businesses agriculture value chain, cottage. industries, artisans, services, renewable energy, trade and commerce, and or the businesses allowed by the CBN.
Anchor Borrowers Program Intervention for Agriculture (ABP)
This loan is offered to small farm owners engaged in producing specific commodities in the country. You need to be a member of 5 – 20 groups or cooperatives.
Creative Industry Financing Initiative Loan (CIFI)
The CIFI credit scheme was developed to boost job creation among young individuals in the creative and information technology (IT) industry. To get this loan Your business must be in the creative and information technology (IT) industry. A business can get this loan of ₦500,000,000
CBN Healthcare Research and Development Grants
CBN makes this loan available to businesses in the healthcare sector and research and development. Your business must be one of the eligible businesses to for the loan. You can get up to 500,000,000.
Maize Aggregation Scheme (MAS)
The Maize Aggregation Scheme is designed to be a working capital loan facility, the loan is provided by the CBN. This loan is of great benefit to maize farmers across the country, this loan is designed to help Agro-businesses purchase home-grown maize.
Some of the businesses that are to benefit from this MAS fund scheme include Confectionery, Feed Millers, Poultry Farmers, Silo Operators, and Warehouse Operators. Businesses can borrow up to 2 billion Naira on this MAS fund at an interest rate of 9%.
Real Sector Support Facility (RSSF)
The main aim of this loan facility is for the Real Sector of the economy, this loan Facility is designed to increase the output in the real sector of the economy, this loan is designed to help to generate employment, diversify the revenue base of businesses, and provide inputs for the industrial sector sustainably for the sake of the economy. This loan is offered to certain businesses such as Agro businesses, Manufacturing, Mining, and Solid minerals. This loan is open to businesses that do not deal with simple trading activities that are not covered by this scheme.
CBN Loan Interest Rate
CBN loan interest rates vary depending on the sector of the economy your loan is intended to be used, loan is intended to impact, this means that the loans given by the CBN are given at very low interest rates especially when the loan facilities are targeted at very critical sectors of the economy of Nigeria. The official lending interest rate of the CBN is 18.5%.
CBN Loan Eligibility
To be eligible for any loan provided by the Central Bank of Nigeria you need to have the following and more specific conditions:
- Your business has to be fully registered with the CAC this is because the CBN does not find or lend money to individuals
- You must have your BVN
- Your business needs to have an account in any of the participating financial institutions(PFIs)
Note that the participating financial institutions for CBN loans include: microfinance banks, non-governmental organizations-microfinance Institutions (NGO-MFIs), financial cooperatives, finance companies, development finance institutions such as the Bank of Agriculture and Bank of Industry, and all fully licensed deposit money banks (commercial banks).
CBN Loan Application Process
To apply for any CBN loan requires you to visit any of the PFIs and fill in the required forms for the particular CBN loan you require. Your participating financial institution does the work of forward your application to the CBN, if you meet the criteria for the loan your loan amount will be disbursed into your PFI account when the loan is approved.
Pros & Cons of CBN Loan
There are advantages and disadvantages to getting loans from the CBN.
Pros Of CBN Loans
- The loan is accessible to everyone in any given sector the loan is targeted at.
- The CBN loan caters to the needs of businesses in various sectors of the Nigerian economy.
- The eligibility criteria for the CBN loans are not very stringent as is the case with deposit money banks( commercial banks).
Cons Of CBN Loans
- The CBN loan disbursement time is often long due to the enormous protocols involved in the process.
- The CBN loan application process can be cumbersome given the documentation and processes involved.
The Central Bank Of Nigeria loans helps to keep the Nigerian economy in many ways especially by providing loans to critical sectors and businesses operating in the Nigerian economy. These CBN loans help keep many businesses running, through the provision of timely loans for those businesses in dire need of it. Anyone whom is fully eligible for any of the CBN loans can apply for a CBN loan.
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The Judiciary’s Influence On Fiscal Policies
The Judiciary’s Influence On Fiscal Policies
The economic environment of a nation is greatly influenced by its fiscal policies. They decide how to manage spending, produce money, and distribute public resources. Although the administrative and legislative arms of government are largely responsible for formulating fiscal policies, the judiciary is extremely important for preserving financial stability and advancing national growth. This article examines how the court shapes fiscal policy and how that affects a country’s overall progress and financial stability: THE JUDICIARY’S INFLUENCE ON FISCAL POLICIES: SAFEGUARDING FINANCIAL INTEGRITY AND PROMOTING COUNTRY DEVELOPMENT.
MEANING AND SCOPE OF FISCAL POLICIES
The choices and actions a government makes in relation to taxation and spending are referred to as its fiscal policy. In addition to other macroeconomic goals, it attempts to achieve economic stability, encourage economic growth, and manage inflation.
The purpose of fiscal policies and their range are best described as follows:
- Economic Stabilization: Fiscal measures are used to keep the economy steady during business cycle swings. In order to boost economic activity during times of recession or slowdown, the government implements expansionary fiscal measures, such as raising spending and lowering taxes. On the other hand, contractionary fiscal measures, such as lowering government spending and raising taxes, are put into place during times of inflation or overheating to calm the economy.
- Encouragement Of Economic Growth: Long-term economic growth is strongly encouraged by fiscal measures. The government can make investments in infrastructure development, R&D, education, and other fields that boost economic competitiveness and productivity. Fiscal policies can promote private investment and entrepreneurship by creating a welcoming business environment, hence promoting economic growth and job creation.
- Income Distribution: To combat income disparity, fiscal policies might be implemented. The government can put in place progressive tax systems that tax people with greater incomes more heavily, so eliminating economic disparities. A more fair distribution of wealth can also be achieved by supporting low-income households with social welfare programs and targeted spending.
- Price Stabilization: By affecting aggregate demand, fiscal policies have an impact on price stability. The government can manage inflationary pressures and stop unwarranted price increases by altering taxes and spending. By tightening fiscal guidelines, cutting back on government spending, and raising taxes, surplus aggregate demand can be lowered, which in turn lowers inflation.
- Management Of Public Debt: Fiscal policies are crucial to managing public debt. Governments frequently use borrowing to pay for budget shortfalls, make infrastructure investments, or fund other expenditures. Prudent borrowing and debt management techniques that guarantee debt sustainability and avoid a negative impact on the economy are key components of appropriate fiscal policy.
- Reverse-cyclical Actions: Fiscal policies can be employed as counter-cyclical measures during economic downturns to mitigate their negative consequences. The government seeks to stimulate demand and increase economic activity during times of low private sector investment and consumption by raising government spending and enacting tax cuts.
JUDICIARY’S ESSENTIAL DUTY ON FINANCIAL POLICY
By guaranteeing their legality, fairness, and compliance with constitutional principles, the judiciary contributes significantly to the promotion of fiscal policies for national growth. Following is a summary of the judiciary’s influence in this regard:
1.Constitutional Analysis: The judicial system is the authority to examine the legality of fiscal policies and actions. By doing this, it is made sure that the government’s financial decisions comply with the constitution’s rules. The judiciary can overturn a fiscal policy if it is found to be unconstitutional, preventing any potential abuse of authority or rights violations.
- Legal Examination Of Taxation: To make sure that tax rules and regulations adhere to legal principles, the judiciary can examine and review them. This serves as a protection against capricious or unjust taxation methods, ensuring that tax laws are fair and do not disproportionately affect particular people or groups. A more fair and open fiscal system can be supported by judicial intervention, which can be used to address any unfair or discriminatory tax policies.
- Protection Of Property Rights And Contract Enforcement: A functioning judicial system is crucial for enforcing contracts and defending property rights. This is essential for encouraging investment and economic growth. Contracts and property rights are frequently involved in fiscal policy, such as in public-private partnerships, tax incentives, or land use rules. Stability and predictability are fostered by the judiciary’s role in upholding these agreements and safeguarding property rights, which promotes economic progress.
- Dispute Resolution: In settling fiscal disagreements between the government and taxpayers or other interested parties, the judiciary is crucial. This includes situations involving tax assessments, tax evasion, or disagreements regarding how tax rules should be interpreted. The judiciary guarantees that fiscal disputes are justly addressed and promotes adherence to fiscal policies by all parties through fair and unbiased adjudication.
- Maintaining Financial Restraint: The courts can serve as a safeguard against abuse of authority or poor financial management. It can examine and judge if government borrowing, contracts, or spending decisions are reasonable and legal. The judiciary encourages fiscal prudence and avoids corruption or inefficiency in the use of public monies by holding the administration responsible for its financial decisions.
- Upholding Economic And Individual Rights: Fiscal decisions can directly affect people’s rights and economic liberty. The judiciary makes ensuring that fundamental rights and freedoms are not violated by fiscal policies. The judiciary’s role in advancing fiscal policies for example, can defend property rights against arbitrary expropriation or make sure that the government’s tax laws do not unfairly restrict economic activities or inhibit innovation and entrepreneurship.
THE IMPACT OF THE JUDICIARY ON FISCAL POLICY IN NATION-BUILDING
Maintaining Fiscal Accountability and the Rule of Law:
Maintaining the rule of law and interpreting and enforcing financial regulations are the judiciary’s main responsibilities. This comprises:
- Legal Compliance and Accountability: In order to ensure that fiscal laws and regulations are followed, the judiciary is essential. It makes people and organizations answerable for financial criminality, corruption, and dishonest business methods. The judiciary supports openness, accountability, and the overall integrity of the financial system by adjudicating instances involving fiscal wrongdoing in a fair and unbiased manner.
- Eliminating Corruption: The fight against corruption, which may seriously harm a nation’s financial management and development, requires an open and impartial judiciary. A strong message that financial misbehavior will not be allowed is sent when the judiciary effectively punishes corrupt behavior, creating an environment that encourages investment and economic progress.
Protecting Economic Stability and Investor Confidence:
An environment that is stable and predictable economically is a result of a functioning judiciary. In preserving investor trust and fostering economic stability, it plays a number of roles, including:
- Resolving Financial Conflicts: In financial conflicts, the judiciary acts as the final arbiter. making sure that disputes over contracts, taxes, investments, and other financial issues are resolved fairly. It promotes economic growth and development by providing a dependable and unbiased legal system that inspires trust in both domestic and foreign investors.
- Defense of Property Rights: The judiciary is essential in defending property rights, notably those relating to intellectual property. A powerful and independent judiciary guarantees that the rules protecting assets are upheld, promoting investment and innovation. People and enterprises are more likely to participate in economic activities that support national development when they are confident that their property rights will be upheld.
Judicial Review of Fiscal Policies
Using its judicial review authority, the judiciary can determine whether fiscal policies imposed by the government are constitutional and legal. the executive and judicial branches. This makes sure that laws are followed and that no constitutional or individual rights are violated or infringed upon by policies. Judicial review encourages responsibility and averts arbitrary behavior, which improves the overall efficacy and fairness of budgetary programs.
- Balancing Interests and Promoting Social Welfare: Through the interpretation of fiscal policy, the court also plays a crucial part in balancing the interests of various stakeholders and promoting social welfare. This comprises:
- Ensuring Equitable Fiscal Policies: To ensure that fiscal policies are equitable and free from any discriminatory practices, the judiciary carefully examines them. The judiciary supports social and economic equality by guarding against policies that unduly burden particular societal groups, ensuring that fiscal policies support inclusive growth.
- Encouragement of Sustainable Development: By interpreting fiscal policies in a way that stresses environmental preservation, resource management, and social responsibility, the judiciary can uphold fiscal policies that support sustainable development objectives. As a result, the judiciary is better able to contribute to the development of a society that is robust, sustainable, and economically thriving.
PERSPECTIVE OF JUDICIAL INFLUENCE ON FISCAL POLICY IN THE FUTURE
The judiciary’s potential impact on fiscal policy in the development of a nation is important and changing. The judiciary is essential to maintaining the rule of law and ensuring that budgetary policies are interpreted and applied correctly. Here are some crucial factors to think about for the foreseeable future:
- Legal Obstacles: Legal challenges to fiscal policy are probably going to increase given the continuously shifting economic situation. Individuals, organizations, and corporationsmay ask a judge to review budgeting decisions and tax laws. Since courts issue legal interpretations and decisions that have an impact on the implementation of fiscal policies, this can modify and improve such policies.
- Constitutional Interpretation: A nation’s budgetary policies are greatly influenced by the judiciary’s role in interpreting its constitution. The boundaries and scope of taxation, expenditure, and debt issues may be decided by the courts. Their choices could have a long-term impact on a country’s overall economic development and sustainable budgetary policies.
- Power Balance: A key tenet of democratic governance is the separation of powers. In order to ensure that budgetary policies comply to the values of equality, fairness, and constitutional restraints, the court serves as a check on the powers of the administrative and legislative branches. As theThe judiciary’s role in overseeing and upholding openness and accountability is anticipated to expand as the importance of these values rises.
- Public Trust and Confidence: Public trust and confidence in the legal system are key factors that the court uses to affect fiscal policy. Citizens’ confidence in the court’s judgements on financial issues will be increased if they believe the judiciary to be impartial and fair. This may lead to increased adherence to and adoption of fiscal policies, which would improve the success of attempts to develop a nation.
- Global Implications: As globalization progresses, international norms and agreements frequently have an impact on fiscal policy. A country’s reputation and position in the international world can be impacted by the judiciary’s judgements on matters like tax evasion, trade disputes, and financial laws. The court’s function inFiscal policies will continue to be shaped in the future by using international legal principles and making sure that international responsibilities are met.
- Technological Developments: The judiciary may face new issues as a result of the increase in digitalization and the use of technology in fiscal affairs. Courts will need to have expertise in comprehending and making decisions on cutting-edge topics like cryptocurrencies, e-commerce taxation, and data privacy as fiscal policies become more complex. To stay up with technological changes, the judiciary will need to continually adapt and modernize.
By influencing fiscal policy, the judiciary is crucial in preserving financial integrity, fostering accountability, and advancing national development. Its capacity to respect the law, settle financial conflicts, safeguard property rights, and make fair policies, promote social welfare, economic stability, and investor trust. An effective and independent judiciary can have a big impact on a nation’s ability to manage its finances, draw in investment, and promote long-term economic growth. As a result, it is critical to understand and value the judiciary’s role in determining fiscal policies for societal advancement and overall national development. See
The judiciary’s potential impact on fiscal policy and nation-building, however, is varied and dynamic. The judiciary will continue to be crucial in interpreting and guaranteeing the adherence to fiscal policies as they change and encounter legal challenges, so influencing the economic development and general well-being of nations.
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THE TRUE ESSENCE OF FEMINISM: NOT ANTAGONISM
THE TRUE ESSENCE OF FEMINISM:
Originally, the word “feminism’ was brought into being for the advocacy of women’s rights based on gender equality; all genders having equal rights and opportunities.
The movement has been known for fighting for women’s rights, gender equality, and dismantling long-standing patriarchal conventions in our society. The genuine meaning of feminism, however, goes beyond these fundamental ideas. It incorporates a wholistic strategy with the goal of removing societal barriers that stand in the way of the advancement of people of all genders and building a society that values inclusivity, equity, and the empowerment of all people.
At its foundation, feminism is a sociopolitical movement that promotes gender equality. It opposes and seeks to destroy oppressive ideologies and institutions that support gender-based inequality and discrimination. The core of feminism is the empowerment of both men and women to reject conventional norms, biases, and restrictions.
This article explores the fundamental ideas of feminism, as well as common misconceptions and the value of inclusivity in the movement.
Charles Fourier, a French philosopher, first used the word ‘feminism’ (spelled ‘feminism’) in 1837. It originally referred to ‘feminine qualities or character’ but that meaning is no longer used. The phrase became synonymous with women’s equal rights by the turn of the 20th century.
Since the movement began, feminism is known to have been in four phases.
The first wave took place in the late nineteenth and early twentieth century. The goal was to open up opportunities for women with the focus of allowing them the rights to vote.
The second wave began in the 1960s and continued to the 90s. in this phase, sexuality and reproductive rights were dominant issues and feminism was focused on passing the Equal Rights Amendment to the Constitution guaranteeing social equality.
The third wave of feminism began in the mid-90s and was propelled by post-colonial and post-modern thinking.
The fourth wave is in a silhouette; in a progression to be practiced in this twenty first century.
COMMON MISCONCEPTIONS ABOUT FEMINISM
Feminism is a widely discussed and often misunderstood movement. Various preconceptions have risen over time, confusing people and impeding the advancement of fairness. These are some prevalent misconceptions:
- Feminism promotes female superiority
One of the most pervasive myths about feminism is that it seeks to establish female supremacy over men. While in reality, feminism actually promotes gender equality, treating men and women equally in all spheres. Feminism aims to overthrow patriarchal structures that promote gender-based prejudice so that everyone can have equal rights and opportunities.
- Feminism puts men at a distance
Another widespread myth is that men are demonized by feminism. The notion that feminism is only interested in furthering women’s rights at the expense of men is the source of this misconception.
Feminism, however, acknowledges that gender equality is advantageous to all. It strives to combat harmful cultural norms, assumptions, and expectations that have an impact on both women and men while promoting a society where everyone is able to thrive.
- Feminism opposes traditional gender roles
Some people erroneously believe that feminism seeks to eradicate all traditional gender roles, seeing them as inherently oppressive. However, feminism does not reject personal choices regarding gender expression or traditional roles.
Instead, it fights against the idea that individuals should be limited by these roles or face discrimination if they deviate from them. Feminism supports the freedom to make choices about gender identity and expression without societal pressure or consequences.
- The need for feminism has passed.
Some claim that since women now enjoy equality in many spheres of life, feminism is no longer required. However, there are still gender disparities in several areas, including the pay gap, the underrepresentation of women in leadership roles in, and social expectations. In order to ensure that everyone, regardless of gender, has equal chances and rights, feminism is still essential today.
- Feminism solely focuses on women’s Issues
Another prevalent misconception is that feminism just cares about women’s issues and ignores other forms of oppression. While in practice, feminism emphasizes interlocking forms of oppression such as race, class,
sexuality, and disability in addition to women-specific issues like reproductive rights and workplace discrimination.
Building a healthier and equitable society requires addressing common misconceptions about feminism. We may get a better grasp of feminism’s objectives and principles by dispelling these misconceptions. Feminism also benefits all of us by advancing social development, empathy and a more equitable future for everyone, regardless of gender identity. In order to create a society that embraces and supports gender equality, the society have to disprove those preconceived assumptions and engage in civil discourse.
WHAT REALLY IS FEMINISM?
As a result of the misconceptions about this movement, here are outlined key principles to clarify what feminism truly entails:
- Gender equality
In the social, political, economic, and personal spheres as well as other areas of life, gender equality is something that feminism advocates to. rather than supporting one gender over another, it is about fighting the power imbalances that currently favor one gender at the expense of the other. The true essence of feminism lies in recognizing that empowering one gender ultimately benefits society as a whole.
According to feminism, everyone should be treated equally in the world, irrespective of their gender. It recognizes that patriarchy places social pressures on men as well as negatively affecting women. Feminism aims to eradicate preconceptions and discrimination based on gender that hold both men and women back from reaching their full potential.
- Defying gender stereotypes
The dismantling of gender stereotypes is one of the key tenets of feminism. Feminism challenges the idea that certain social positions, professions, or behaviors are only appropriate for a particular gender, not to elevate women over men. It acknowledges that people’s abilities, talents, and goals should be considered instead of their gender in limiting or defining them.
Feminism challenges traditional gender roles and stereotypes that limit individuals’ potential based on their gender. It seeks to liberate both men and women from the constraints of these societal expectations.
Feminism acknowledges that men, too, can be affected by patriarchal norms, such as being pressured to conform to rigid standards of masculinity. By dismantling these stereotypes, feminism paves the way for individuals to express themselves authentically, free from the fear of judgment or discrimination.
- Addressing systemic oppression
As gender-based discrimination connects with other types of prejudice, such as unfairness based on socioeconomic status, sexuality, and ability, feminism also addresses systemic oppression.
The phrase “intersectional feminism,” popularized by scholar Kimberlé Crenshaw, emphasizes the value of inclusive activism that takes into account the particular problems that women from different backgrounds experience. This strategy calls our attention to the frequently ignored struggles of oppressed communities and exhorts us to elevate and amplify the voices of all feminism’s voices.
Because, the true essence of feminism lies in its commitment to intersectionality. Intersectional feminism acknowledges that the experiences and struggles of women differ based on these intersecting identities, and strives to be inclusive of all women, irrespective of their backgrounds.
- Promoting empowerment
Feminism is grounded in the belief that all individuals deserve equal rights, opportunities, and access to resources. It seeks to empower women by challenging gender norms, advocating for reproductive rights, equal pay, and combating violence against women. Furthermore, feminism encourages women to reclaim their voices, own their narratives, and pursue their dreams without judgment or societal constraints.
- Promoting equal opportunities
Supporting equal chances in all facets of life is at the heart of feminism. This entails advocating equal compensation for equal labor, dismantling glass ceilings in the workplace, and removing obstacles that prevent women from filling leadership positions. Example, the 19th Amendment to the US Constitution, guaranteeing women the right to vote, was as a result of the feminist activists of the 19th century. According to feminism, everyone should be able to pursue their goals and objectives on an equal basis, regardless of their gender.
Other important aspects of feminism include consent, bodily autonomy, and reproductive rights. It aims to give people the freedom and independence to make decisions about their bodies without intrusion or pressure. By defending reproductive rights, women are guaranteed access to safe and legitimate options for their reproductive healthcare.
HOW CAN FEMINISM BECOME MORE EFFECTIVE TO YIELD POSITIVE IMPACT?
Women and girls still experience daily abuse, unfair pay and prejudice in this 21st century. In order to achieve social justice, feminism continues to fight against gender and sexuality-based abuse and exploitation.
It will take a take a group effort and constant dialogue to dispel preconceptions and promote a more accurate understanding of the movement to produce more effective results. The following actions can aid in this process:
- Education and awareness: It begins with the society learning about feminism’s objectives and history. Recognize the many feminism-related philosophies and perspectives. This will help in dispelling myths with the feminism movement.
- Open communication: Have polite, unrestricted dialogue with others. Encourage conversations where individuals can express their feminism-related opinions, worries, and inquiries. Pay close attention, then react empathetically with intelligent observations and clarifications.
- Dispel stereotypes: Stereotypes that portray feminists as radical, anti-male, or anti-family tend to be the root of feminism misconceptions. By highlighting that feminism is about gender equality, empowering all people, and fighting for social, economic, and political rights, you may
dispel these preconceptions.
- Share personal experiences: Talk about your own experiences or give illustrations of how feminism has improved lives and pushed for gender equality. Describe historical examples of effective feminist movements and accomplishments.
- Speak in inclusive terms: To demonstrate how feminism benefits all people, regardless of gender. Emphasize that the goal of feminism is to promote equal rights and opportunities for all, not to battle against men.
- Collaboration and intersectionality: Recognize and advance feminism’s intersectional character. Point out the connections between feminism and other social justice movements, such racial equality and disability rights.
- Media literacy: Examine and question inaccurate narratives in the media’s portrayals of feminism. To assist others in differentiating between positive preconceptions of feminism and accurate portrayals of it, encourage media literacy skills.
- Lead by example: Individually, we all should advocate for gender equality in our personal life and behaviors. Treat others with respect and fairness, promoting equality in everyday interactions.
Feminism aims for gender equality, inclusivity, and empowerment by challenging patriarchal norms and stereotypes. It celebrates diverse talents and experiences, recognizing intersectionality and dismantling systemic barriers to create a fair, equal, and just world for all.
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