International Trade and Imperial Precursors: The Evolution of a New Nigerian Economy in the 19th and 20th Centuries

Abstract

Capitalism has perpetuated class antagonism which breeds dissatisfaction amongst people in a bid to seek equality and justice in the distribution of power and economic resources. This study analyses International Trade and Imperial Precursors into the New Nigerian Economy in the 19th and 20th Century. Using data generated from secondary sources and descriptive analysis, it has been realized that the Nigerian economic elite play negative role in the economic dependency processes of the country. Finding also reveals that, Government policies in Nigeria are foreign oriented in nature, therefore, favoring foreign western economies at the detriment of Nigerian interest. The study conclude that there is a need to channel our energies to producing for internal needs and consumptions but these calls for a change in the values of principle of the indigenes, there are far too many acts of indiscipline and self–indulgence on the part of the generality of our people in all the starter of our society.

Keywords

• Foreign Debt
• International Trade
• Imperial Precursors
• Nigerian Economy
• International Financial Institution (IFI)