By Abayomi Odunowo
The Structural Deficits of a Post-Colonial Economy, Less than a century ago, Nigeria was a crucial supplier of food during colonial times, functioning as the "breadbasket" for colonial powers. Yet, despite gaining independence, the dominion of foreign economic interests has persisted, creating a paradox where Nigeria, despite its rich agricultural potential, has become increasingly food insecure. Simultaneously, Nigeria has turned from an oil-rich nation into a paradoxical situation where it imports all its gasoline, revealing an energy deficit that worsens its economic vulnerability. The colonial architecture imposed on Nigeria led to a redesign of its agricultural, energy, and manufacturing systems that continues to disadvantage the nation today.
The Agricultural Quandary and Economic Dependency. The transformation of Nigeria's agricultural landscape began in earnest after colonial rule ended. By 1955, during the Treaty of Rome meeting in Europe, leaders recognized a food security crisis stemming from dependency on external food sources, notably Nigeria’s agricultural outputs. The response was the establishment of the Common Agricultural Policy (CAP), which incentivized European farmers through subsidies to cultivate basic crops like corn, wheat, and soybeans. These subsidies allowed farmers in the Global North to produce food at prices that Nigerian farmers could not compete against.
This scenario forced local agricultural practices to pivot away from subsistence and diversified food crops toward cash crops for export, such as cocoa, tea, and tobacco. Thus, Nigeria shifted from being a nation that could sustain its populace through domestic food production to one that is reliant on imported food, further exacerbating food insecurity. This redesign not only undermines local farmers but also compromises national sovereignty regarding food self-sufficiency, leading to dependency on imports that do not match local dietary needs.
Reimagining the Agricultural Landscape and Beyond. To rectify this systemic flaw, Nigeria must undertake a comprehensive reform of its agricultural policy, redirecting focus back toward supporting local food production rather than solely cash crops for export. Policies that prioritize the diversification of agriculture, combined with investments in technology and infrastructure to reduce reliance on the Global North, could enhance food security and stimulate economic resilience.
Furthermore, the energy deficit is another pressing issue that needs comprehensive solutions. Despite being Africa’s largest oil exporter, Nigeria's design forces the country to import refined fuel, showcasing severe mismanagement of its resources. The cycle perpetuates a colonially rooted economic structure where Nigeria remains locked into producing low-value exports while importing higher-value products. Investing in refining capabilities and modern drilling technologies has the potential to not only satisfy domestic energy needs but could also position Nigeria as a competitive player in the global market.
Addressing the manufacturing deficit presents a third avenue of reform. The current structure curtails Nigeria’s ability to develop a robust manufacturing base, largely reliant on imports for machinery and components. By establishing a framework that promotes local assembly and production through collaborative ventures and knowledge-sharing with developing nations, Nigeria could enhance its manufacturing capabilities, create jobs, and ultimately elevate the value of its exports.
Embracing a Sovereign Path to Economic Transformation. The reality is stark: Nigeria cannot achieve Sustainable Development Goals within a framework that is still shaped by colonial legacies. Structural trade deficits are exacerbated by a weaker currency, rendering essential imports unaffordable and placing a heavy burden on vulnerable populations. In parallel, government strategies that focus on borrowing to maintain superficial stability only entrench this cycle of dependency and prevent transformative growth.
The time for a paradigm shift is now. The call for policy changes must be backed by collective action, investment in human capital, and an unwavering commitment to economic sovereignty. By fostering a self-sufficient agricultural sector, enhancing energy autonomy, and revitalizing manufacturing, Nigeria can transition from a state of economic coloniality to one where it defines its trajectory, ensuring food security, energy sustainability, and a thriving manufacturing sector. The path to true independence requires dismantling the remnants of colonial economic structures and reimagining a future that prioritizes the needs of its people over external impositions. Only then can Nigeria arise as a nation that honors its heritage while forging a sustainable and prosperous future.
Otunba Abdulfalil Avayoni Odunowo
National Chairman AATSG
Mobile: +2349053535322.
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