The significance of the rule of law lies in its foundational role in maintaining structured governance and ensuring that all individuals and institutions are subject to the law, irrespective of status or power. This principle promotes fairness, equality, and justice, safeguarding against arbitrary decision-making and abuse of authority. By fostering a legal framework that upholds rights and responsibilities, the rule of law supports social order and helps build public trust in governmental institutions. It is essential for the protection of individual liberties and the promotion of political and economic stability.