Capitalism is an economic system in which capital goods are owned by private individuals or businesses. The production of goods and services is based on supply and demand in the general market (market economy), rather than through central planning (planned economy or command economy).
(i) Right of private Property:
-Every individual has the right to accumulate property.
-An individual is free to use his property according to his will.
-Right of inheritance, i.e., after death of an individual his property goes to his successors.
(ii) Price mechanism:
Price mechanism means the free working of the forces of demand and supply to determine, prices in product market and factor market.
(iii) Profit motive:
Profit is the soul of all the institutions of capitalist system. A capitalistic economy is individualistic because everyone is motivated by self-interest or private profit motive to undertake high risks.
(iv) Freedom of enterprise:
There is freedom of enterprise in a capitalist economy. It means people are free to choose their occupation, profession or business according to their will.
(v) Consumer’s sovereignty:
In a capitalist economy people have freedom of consumption. They can spend their income on consumption according to their choice.
Constitutional government is the government that adheres to the principles of laws and the provisions of the constitutions governing a state.
(i) It subscribe to the rule of law: The government must subscribe to all the principles of rule of law as dictated.
(ii) Fundamental Human Rights must be strictly adhered to: The fundamental human right must be considered sacred.
(iii) Fair hearing: Any offender must be given fair hearing and considered innocent until proven otherwise by the law court.
(iv) Principle of equality: All the citizens must be equal before the law without fear of intimidation.
(v) The organs of government must be autonomous: The three tiers of government must be given free hand to operate optimum and to perform their duties as provided by the constitution.
(i) Education: The education acquired by most people made them accept indirect rule system in the British West Africa.
(ii) Checks and balances: Most of the Obas were constitutional Obas and not absolute.
(iii) Decentralized political system:- The system was decentralized and not centralized, hence the partial success.
(iv) System of taxation: In the west, before indirect rule, there was a system of collecting tax which was acceptable to the people.
(v) Non-recognition of the educated elites: The educated
(vi) Religion: Christianity Was The dominant religion in the west. It is more democratic than Islamic religion.
(i) Common language:Though there are variations in Igbo language but all the communities that made up the Igbo land understand themselves and that helps to bring them together in entity
(ii) The Oracle: the Oracle in Igbo land contributed in uniting the various Igbo community.The Igbos has strong believe in the powers of these Oracle and as a result everybody abhorred harming his neighours in order not to be punished by the Oracle
(iii) Supreme God:The Igbos believe in the supreme God called Chineke or Chukwu who made everything in the world and that it was equally responsible for everything that is happening in their society
(iv) Simple form of government:The simple form of decentralized system of government of Igbos made it possible for families and clans to believe in common descendant from the same ancestors to have equal opportunities in airing the various views of members of their families and these United them
(v) Age grades:These age grades carry out a lot of uniting work maintained peace and order acted as army that warded off external attack and saw to the sanitation of the community
(vi) Marriage: Polygamous form of marriage that was common in the pre colonial era widened the scope of the unity and cooperation among the various communities that inter married
(i) Republican form of government: The constitution gave Nigeria a republican form of government.
(ii) Final court of appeal: The Supreme Court became the final court of appeal.
(iii) Fundamental Human Rights: The rights of citizens were fully entrenched and guaranteed.
(iv) Power of judicial review: The Supreme Court was given the power to check the excesses of the executive and the legislature.
(v) free from external interference: British undue external influence on the country ceased
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