Economic Stability during the Colonial and Post-colonial Era: The Case of Nigeria

Abstract

Based upon library research, this study analyses the economic activities of the Nigerian people in the pre-colonial times and the impact of the British colonialism on these traditional activities. The study found that various types of economic activities reached its peak of production before the colonial administration. Geographical features played an important role in the emergence of the economic sector with different types of manufacturing and agricultural varities. The British colonial policies resulted in the economic backwardness and poverty in the region. The independence of Nigeria did not change the situation as the authorities pursued similar policies which was worsened by the discovery of oil. The country remains poor despite oil money. Thus, there exists a direct link between the colonial economic policies and the devastating economic situation at present.