Abstract: This study examined the dilemma of Nigerian economic development in historical perspective. It maintained that, the economic development of a society is vital for the welfare, and satisfaction of the needs of members of the society. However, post-colonial Nigeria appears to be at the economic crossroad and faces a dilemma of economic development. In that, since the decolonization of Nigeria in 1960, economic development efforts have suffered many setbacks. This paper held that although conceptualized development planning began in Nigeria during the colonial era in 1946; but that real economic development efforts in the country were undertaken after independence, since the colonial economic policies introduced by Britain were primarily for the satisfaction of British economic interest. In colonial Nigeria, British need for raw materials led to the introduction of new farm products, and a shift from the production of food crops to cash crops. Taxation was also introduced to encourage farmers to grow cash crops; and economic institutions and infrastructures provided to support the colonial economy of Nigeria. These economic developments aided the monetization and commercialization of the Nigerian economy during the period. However, the contact with the Western civilization exposed Nigeria to new models and perspectives of economic development; which this paper argued created the dilemma of what economic development path to take to achieve sustainable economic development. Hence, it concluded that, economic development efforts should be domesticated, and politically regulated, and not determined by government as the people remain the means and ends of development in any society.
Keywords: Economic, Development, Dilemma, Post-Colonial Nigeria, Model.
Title: Nigerian Economy and the Dilemma of Development in Historical Perspective
Author: WILLIAMS EHIZUWA ORUKPE, BRIDGET OGHALE OMORUYI
International Journal of Social Science and Humanities Research
ISSN 2348-3156 (Print), ISSN 2348-3164 (online)
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