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12 - Colonial Economy

from Part III - Colonial Societies

Published online by Cambridge University Press:  21 November 2024

Toyin Falola
Affiliation:
University of Texas, Austin
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Summary

Chapter 12 details the economic exploits of Nigeria’s colonial government and private foreign firms and explores the responses from local economic and political forces. The extraction and exploitation of Nigeria’s natural and labor resources were the primary driving factors behind British efforts, aiming to create a lucrative territorial possession that would fit snugly into a global imperial patchwork. To do so, the colonial government and some Indigenous polities promoted the construction of expansive, colony-wide infrastructure projects and extensive investments into its extraction economy, such as the development of commercial cocoa plantations. Such efforts yielded significant economic growth, but, as this chapter details, British actors would receive the most economic gains due to the attempted monopolization of these growing industries. The integration of indirect and legal forms of discrimination would harm local economic actors and non-British foreign firms, resulting in widespread poverty and social disturbance. With the onset of World War I and the economic depressions which followed, even this imbalanced economic growth would slow. Because Britain could no longer focus as much on its colonies, Nigeria’s growing class of educated elites would slowly gain more political representation.

Type
Chapter
Information
Understanding Colonial Nigeria
British Rule and Its Impact
, pp. 254 - 275
Publisher: Cambridge University Press
Print publication year: 2024

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  • Colonial Economy
  • Toyin Falola, University of Texas, Austin
  • Book: Understanding Colonial Nigeria
  • Online publication: 21 November 2024
  • Chapter DOI: https://doi.org/10.1017/9781009337205.014
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  • Colonial Economy
  • Toyin Falola, University of Texas, Austin
  • Book: Understanding Colonial Nigeria
  • Online publication: 21 November 2024
  • Chapter DOI: https://doi.org/10.1017/9781009337205.014
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • Colonial Economy
  • Toyin Falola, University of Texas, Austin
  • Book: Understanding Colonial Nigeria
  • Online publication: 21 November 2024
  • Chapter DOI: https://doi.org/10.1017/9781009337205.014
Available formats
×