The Nigerian political system is directly wired to promote monopoly which in turn makes it difficult for things entrepreneurship and private businesses to thrive. It all boils down to control. A lot of monopolistic business gets their patent and backing from the government and this is because of the money that's involved.
Before these businesses reach that level of monopoly, they'll need the support of the government to create policies or regulations that will floor or directly affect their smaller competitors. Competition is the opposite of monopoly.
The Nigerian system makes it difficult for small businesses to compete with extravagant policies, which are really not applicable to the businesses in liaison with them (the government).
Because it boils down to control, the government mostly makes regulations that aim to control bigger businesses while stifling the smaller ones. This is the same with crypto. The government made laws to shut out most physical crypto outlets and the judiciary is now tasked with enforcing these laws.
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