Economic Development in Nigeria

Though there’s archaeological proof that societies were living in Nigeria for over Twenty-five hundred years, the borders of contemporary Nigeria weren’t established until the British consolidated their ancestral power over the area in 1914. Archaeologists have found evidence of Neolithic men who inhabited what’s now Nigeria as far back as 12, 000 B.C.E.The histories of the individuals in southern and northern Nigeria before colonization followed hugely different paths. In 1914, after suppressing the last of the native opposition, Britain formally established that the Colony and Protectorate of Nigeria. The spread of overt colonial control resulted in the first and only time the cultural groups in contemporary Nigeria came together under a generally felt a feeling of national identity.

The nationalistic movement grew from a number of the modernization the British had established in Nigeria. Until the previous few decades, Nigeria was self sufficient in producing sufficient food to feed the population. As oil production and business started to boom in Nigeria, a lot of the national resources were focused on the new sectors at the expense of agriculture. Nigeria, which had turned into a net exporter of agricultural products, shortly needed to import huge quantities of food it formerly was effective at generating itself. Since the 1960’s, Nigeria’s economics has been based on petroleum production. As a leading member of that the Organization of Petroleum Exporting Countries, Nigeria has played a significant role in influencing the cost of oil on the world market.

The oil rich economics resulted in a major economic boom for Nigeria throughout the 70s, changing the African nation in the thirtieth richest nation on earth. Falling oil prices, severe corruption, political instability, and financial mismanagement since then have left Nigeria no better off today than it was at independence. Since that the restoration of civilian rule in 1999, Nigeria has started to make strides in economic reform. While oil is Nigeria’s biggest industry with regards to output and revenue, oil reserves are located only in the Niger Delta area and along the coast. Typically, only men hold land, but since the wealth construction carries on to change and develop in Nigeria, it’d not be unheard of for a rich woman to buy land for herself. Apart from oil and oil based products, the majority of that the goods produced in Nigeria are consumed within Nigeria. Although the textile industry is quite strong, nearly all the fabric produced in Nigeria goes to clothing that the big Nigerian population.

However there is another area in which Nigeria hope to expand it’s economic base and provide jobs and employment for people – technology. Although Nigeria has a somewhat ‘tarnished’ reputation with regards the digital economy there is no doubt it’s one of the most advanced African nations. The reputation of Nigerian scams and con men though makes it difficult for legitimate Nigerian digital entrepreneurs to do business online. Fortunately there are methods of bypassing these problems and many Nigerian online businesses. First they’ll use remote offices in different countries and setup websites abroad too. In communications it’s relatively easy to relocate digitally by investing in a simple proxy/VPN like the one demonstrated in this post about a BBC live VPN. In some ways it’s quite sad that the reputation Nigeria has inadvertently developed but with some innovation they are largely overcoming the problem. Ironically many individuals within the middle classes all ready use some of these programs to bypass internet blocks and filters. For example to access US and UK news and TV sites, you can use these programs to change your IP address to a non-blocked one. They are effective from anywhere, read about online IP changers in this post and you can see how effective they are for accessing the internet.