From Developing Economy to International Monopoly (Dependency) and Unequal Exchange: Historicizing Economic Woes of the Nigerian Region since Colonial Period
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Before the advent of colonialism, the African region was towing a path towards developing a self-sufficient and sustaining economy, in which Trade apart from being a medium of exchange, served as a tool for integration and exchange of idea of the various peoples occupy what today constitutes the Nigerian area and beyond. The activities surrounding agriculture and trade/exchange also allowed for the development of a compact network of other related economic activities (i. e. establishing a link from and between the production of raw agricultural raw materials to manufacturing) as well as specialization. However, the integration of the area and her neighbors into the web of international trade destroyed the indigenous network, thus encouraging dependency. This paper employing historical methodology seeks to examine the relationship between international trade, colonialism and the economic woes of the region and its impact years after colonial rule.
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