Nigeria.2 - Nigeria Political Economy and Development The...

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Nigeria Political Economy and Development
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The State Central fixture partly due to Colonial legacy.
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State and economy State directly owns much of industry and services and controls much of the rest. Revenues channeled through the government. Earnings- rents Rent-seeking
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Huge gap between rich and poor Possibly 70% survive on subsistence level. Petty trade/ subsistence agriculture
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Economic decline since end of colonialism Previously- agriculture for domestic consumption and export. Cocoa- west Palm oil-east Groundnuts, cotton- north Direct taxation, forced cultivation, Euro firms
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Nigeria was self-sufficient in food production Sorghum, maize, cassava, yams Move to export –oriented…
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Factors that lead to destruction of agricultural sector. Biafran war- reduced palm oil production Drought in 1969. . Famine later Development of petroleum industry
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Increased expenditures on education, infrastructure… But lacking in fiscal discipline lead to debts. Increase in taste for imported goods.
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Nigeria.2 - Nigeria Political Economy and Development The...

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