Question

in less than 200 words summarize colonial economic policies in pre Nigeria era practiced by the british that has impoverished our economy today.

Answer 1

Explanation:

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Answer 2

The implications of colonial economic policies in the pre-Nigeria era practiced by the British that has impoverished our economy today:

• The British government broke the backbone of the economy in Nigeria, by introducing the production of cash crops and supplying them to metropolitan places in Britain. These raw materials were being produced in Nigeria and supplied to the British industries to acquire them at cheap rates.
• It led to acute shortages of food supply in the country which resulted in acute poverty in the land where development was already nil.
• This policy destroyed the indigenous food crop production in Nigeria and forced the economy to further go into debt by exporting goods from foreign countries.
• The local governments were key forces behind the destruction of indigenous industries and agents of this gruesome policy by the British government.

The colonial powers stagnated the growth of its colonies Nigeria being one of them. Today, the impoverished condition of our economy can be blamed to a large extent on the cruel policies of the colonial powers.