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Accepted Paper:
Paper short abstract:
Nigeria's economic crisis reveals the flaws of capitalist crisis management in fragile economies. Communitalism, a community-centred model focusing on solidarity and shared resources, offers practical solutions. This paper explores Communitalism's potential for economic resilience.
Paper long abstract:
Nigeria’s economic crisis, triggered by fuel subsidy removal and the naira’s floating under President Tinubu in 2023, exposes the shortcomings of capitalist crisis management in fragile economies. These policies have led to rising fuel prices, heightened inflation, exchange rate volatility, and widespread public dissatisfaction, revealing capitalism’s inherent tendency to prioritize profit over the welfare of vulnerable populations. This paper examines the ripple effects of these reforms and explores Communitalism—a community-centered model emphasizing solidarity and shared resources—as a viable alternative. Communitalism offers practical strategies to address economic challenges by fostering grassroots collaboration and resilience, highlighting its potential to deliver equitable, sustainable solutions where market-driven approaches fall short. Amidst these systemic challenges, Communitalism has provided practical, community-focused strategies for survival and advancement. Communitalism is based on the principles of solidarity, communal resilience, and equitable resource sharing, promoting grassroots collaboration and mutual aid. This study presents instances in which Nigerians have utilised cooperative networks, traditional practices, and communal initiatives to address the negative impacts of economic reforms. These approaches have effectively met immediate needs, including food security, transportation, and financial support, while strengthening the social fabric. This paper argues that while the government's initiatives, such as enhanced revenue sharing, economic diversification, and anti-corruption measures, present opportunities for systemic reform, they must be supplemented by grassroots solutions and socio-economic models such as Communitalism. This approach contributes to a broader discourse on reimagining development pathways prioritising human and communal flourishing rather than profit and exploitation.
Resiliently responding to the polycrisis: absorbing, adapting to and transforming crisis situations in an uncertain world
Session 1