ECONOMIC JUSTICE AND INEQUALITY: ANALYSIS OF ECONOMIC DIMENSIONS TOWARDS THE REALIZATION OF SOCIAL JUSTICE IN NIGERIA

Abstract

Economic justice is one of the main aspects of social justice, concerned with ensuring equitable distribution of wealth, opportunities, and privileges within a society. This paper examines the concept of economic justice and its relationship with social justice. With particular reference to Nigeria, a country endowed with abundant natural and human capital resources, economic disparities remain obvious and persistent in view of the large-scale income disparity, high rate of unemployment and poverty. This suggests the need to critically engage the theoretical, as well as the legal and policy frameworks underpinning economic justice in Nigeria, focusing on wealth distribution, poverty, the minimum wage debate, universal basic income (UBI), and taxation and redistribution policies. This paper demonstrates how law and institutions or the lack of institutions enable economic inequality in Nigeria, while discussing the social justice implications of these economic challenges. It evaluates how legal reforms and institutional interventions can bridge the gap between the rich and poor, and promote inclusive development and foster economic justice.