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It has been viewed by some Eurocentric writers that pre-colonial West African economy was stagnant, subsistence and that it lacked real market status before British colonization. This argument stems from some anthropological perceptions (substantivist stand point) that the main sector of this economy was basically subsistence agriculture, which had been made stagnant as a result of application of simple technology without organized specialization. Production target is said to ensure human existence with little or no exchange as a result of limited output1. To this view, simple and non-industrial region, such as pre-colonial West African societies lacked certain necessary prerequisite for market economy and as such economic terms and theories should not be applied to explain their economic structure2.

The study therefore intends to unravel the pre-colonial Nigerian indigenous economy both in scope and structure and attempts to establish that it was dynamic and that it possessed real market status of high standard, given its characteristics. The study is divided into three major segments – general features of an economic system, structure of pre-colonial Nigerian economy and justification of pre-colonial Nigerian economy as a dynamic and market oriented economy. A market economy is the one in which decision-making is decentralized, that is market issues are mainly determined by market forces; that is, demand and supply. This is unlike command economy in which decision making is decentralized and controlled by an authority 3. In every economic system, there are three basic economic functions, no matter the nature, type and level of the government or economy4. These are, what and how much to be produced, how will it be produced, and for whom will it be produced. These implies that every economic system takes care of production, distribution and consumption of goods and services. Every economy system is tied to a political system through which people decide what their society desires.

A vital role of any economic system is co-ordination. It must see that individuals’ decisions about what they do are co-ordinated with the society’s wants and with what other individuals do. This co-ordination also includes, moral, social and political values, an economic integration which ensures that what an individual wants will not exceed what are available in the society5. This partly explains why there is no economic system that can easily operate successfully outside the socio-cultural context of its indigenous environment.

Given this background, it would be gainful to examine the structure and scope of pre-colonial Nigerian economy. The main spring and life-wire of any society are mostly referred to as its economic and human potentials. Nigeria does not take exception to this universal rule. The kingdoms, states and empires that existed in pre-colonial Nigeria were great and prosperous not only because of their sound socio-political institutions, but also as a result of the natural resources such as bountiful agriculture, trade and crafts. A close observation of the Nigerian terrain and climate reveals the diversity of its natural potentials which gave rise to economic viability and a variety of occupations. The structure of pre-colonial Nigerian economy rested basically and extensively on the nature of vegetation, household labour and the main components being agricultural activities, crafts, trade, and its transportation system.



Agriculture is a primordial economic activity in Nigeria which formed the means of livelihood of the peoples and a strong factor for the rise of states and empires just as the case everywhere in the world. From the words of Evans – Pritchards “the first evolution that transformed human economy gave man control over his own food supply, man began to plant, cultivate and improve by selection of edible grasses, roots, and trees”6. This economic advancement has been described as “neolitic revolution”. Like in modern time, in pre-colonial Nigeria , a major determining factor for the choice of settlement was availability of favourable climate, free of epidemics, fertile land suitable for cultivation and grazing, congenial littoral environment for fishing and security such as absence of war and other natural and supernatural disasters. When these factors were lacking, people resorted to migration in search of comfortably habitable areas. Considering these phenomena, the reasons for shifting cultivation in planting in agriculture, normadism in grazing and itinerancy in fishing could be understood. In other words, ecological factors play decisive roles in human settlement7.

The form of agriculture practised and the crops planted were determined by the nature of soil and the terrain of the region. Shifting cultivation and crop rotation characterized agricultural practices in pre-colonial Nigeria , owing primarily to land tenure practice and lack of knowledge of highly mechanized farming. There were natural problems such as erosion, drought, pests and diseases. These problems were tackled locally, depending on individual communities. For instance, traps were set to catch birds and destructive animals in the farms and gutters were also dug to drain away water in order to check flood. Wetting of farms during drought had been an ancient agricultural practice among Nigerians. All these practices were not necessarily influenced by conservation as viewed by some western observers but the most effective and correct maintenance of soil fertility and assessment of the prevailing economic situation of the period8

In pre-colonial Nigeria , farmers depended on implements such as digging stick, hoe, cutlass and sickles. The common crops produced based on territorial specialization included, yam, okra, vegetables, maize, cocoyam, cassava, plantains, bananas, kolanuts and oil palm9. The independent growth and antiquity of agriculture in Africa and Nigeria in particular has been strongly proved by some African economic historians. Among them was Murdock, an ethnographer who argued that agriculture began in the upper Niger area among the Mende-speaking peoples in about 5000BC10 basing his research on yam cultivation in this region. While one cannot doubt the great antiquity of agriculture in Nigeria , we must, on the same note not rule out the possibility of cultivation of yams or other crops earlier than or around the period, (5000BC), in other parts of Nigeria . It is interesting to note that the diffusionist theory and hamitic hypothesis which tend to hold that all developments in Africa are imported have been proved wrong by the nature of agricultural development in the sub-regions11. While it is undeniable that some crops were introduced from other areas to Nigeria , it is evident that agriculture in Nigeria developed naturally and independently without foreign mechanism12. Whatever that was later introduced to it was supplementary to the existing system.





Fishing is an ancient economic activity in Nigeria . Its activities cover both the coastal and inland waterways and it was of tremendous economic value to the pre-colonial Nigerians13. Fish was one of the major articles among Nigerian commodities of trade. Fish of various kinds were either dried in the sun or smoked in order to preserve them for long or short distance market14. Fresh fish were said to be marketed mostly in short distance areas owing to the perishable nature and problem of storage facility. Professional fishing is characterized by craftsmanship and special skills, such as boat, canoe, paddle, float, buoy and net construction coupled with invention of a variety of indigenous fishing techniques and gear. Fishing in pre-colonial Nigeria till date engenders migration as many of its practitioners would have to leave their original settlements for better prospects elsewhere15. Fishing of the migratory type was very prominent among the Ilaje, Izon, Itsekiri, Efik, Jukun, Ijebu, Awori etc. From the pre-colonial period to date, the Ilaje are said to have been the most migratory, famous and professional both in inland and deep sea- fishing not only in Nigeria but in West and Central Africa16 . Around the early 16th century, fishing is said to be practised with rudimentary techniques and tools such as raffia materials, wood, and grasses ad with very limited scope17. By the late 18th century to early 19th century, most Nigerian fishermen had started developing improved fishing gear and techniques such as clapnets, castnets, ita, egho, asuren, ojijon, agada, ighee, iyanma, ekobi ufo, riro, 18 etc. Nigerian fishing economy was in this progressive stage of development on the eve of British colonization.


Hunting could be regarded as one of the earliest economic activities in pre-colonial Nigeria . It was very significant because, many people depended on it for economic survival at a stage of economic development. However, as time went on, hunting became a relevant supplement to agriculture19. Hunting in Nigeria during this period was of various levels. At lower level, hunting included setting of snares for birds, young animals, such as squirrels, monkeys, grass cutters, alligators, etc. Another level was hunting for larger animals such as crocodile, elephant, wild pig, antelope, etc. It was and perhaps, still, a belief in most local communities in Nigeria that hunting, especially at higher level, apart from special skills involves the use of charms and possession of supernatural powers20. Hunting was a reliable source of meat and animals skin for cloth, shoe and drum making. In addition to its economic value, it was a means by which foot paths and settlements were created before the advent of the European mode of road construction and town settlement. Consequently, these paths and hamlets later developed into roads, towns and villages. Hunters served as security agents by protecting people from attack of enemies or wild animals. Hunters also supplied animals and their special parts which have medicinal value among indigenous medicine practitioners21. Supplementary to hunting was fruit gathering. Collection of variety of fruits from the forest was an economic venture by some people, especially women in the pre-colonial Nigerian societies. Fruits and spices are important for food and herbal medicine hence, their demand was and is still high till date in Nigerian local market places22.




This was another economic practice in pre-colonial Nigeria . This is the rearing of animals, especially cattle, goats and sheep in commercial quantity by moving from one fertile land to another. As a result of infestation of the forest region by tsetse fly and scarcity of open land in the south, couple with the marshy nature of the plains, presence of rivers and creeks in the coastal region and the presence of open land in the north, pastoralism was mostly practised by the Fulani in the savanna region of northern Nigeria22. Both pastoralism and hunting are related to crop farming since they all directly and indirectly deal with animals. Though, mixed farming was not widespread, some form of symbiosis existed between the crop farmers and the postoralists. For instance, the droppings of the cattle formed manure to the soil which in turn supported the growth of crops while the postoralists depended on food crops of the farmers. Moreover, the production of cattle was a source of beef for the forest dwellers, the leather workers demanded the skin for production of shoes, bags, shield for war, quivers for arrow, harness for horses23 etc. Kano in northern Nigeria was famous for such skills. Pastoral activities were of immense economic value in pre-colonial Nigeria .     



A discussion of the development of crafts among pre-colonial Nigerians requires a description of their arts and industries at various levels. The major arts and craft works in which Nigerians were famous included; salt extraction, soap production, metal work, woodwork and weaving activities. This enormous development reminds us of the extent to which indigenous technology had progressed in Nigeria in pre-colonial period. It is evident that iron technology had developed considerably in pre-colonial Nigeria and this revolutionalized crafts and manufactures in Nigeria and indeed Africa24 .

Salt production was one of the mineral extractions, which was not available in most areas, but an important locally needed product and an import commodity of foreign merchants25. In pre-colonial Nigeria , production of salt at large quantity was naturally restricted to the coastal areas owing to the availability of raw material such as salt water. The method of production was by evaporation of seawater either by boiling or sunning. Among the coastal settlers in Nigeria, especially the Ilaje, Itsekiri and Ijaw, the process was by collecting seawater in a large clay pot, cooked it till it was dry, leaving white and solid substance at the bottom. This would be scooped, using a small basket to filter the dirt26. What remained was salt which could be to a large extent free of impurities. This industrial activity enhanced the growth of trade between the coastal and inland dwellers in pre-colonial Nigeria . In the inland region too, salt is said to be produced in perhaps relatively small quantity especially among the Jukun of the Benue region and the Igbo of the eastern Nigeria27.

Closely related to this pre-colonial economic venture was soap production. This was predominantly carried out by the Nigerian forest region settlers. The major raw materials for soap production were palm oil and ashes. These would be boiled together and molded28. In pre-colonial Nigeria for instance, various kinds of soap were produced. In addition to domestic and commercial purposes, soap also had medicinal value29. The Ose dudu (black soap) among the Yoruba for instance, is still used up to date for these purposes.

Two important aspects of pre-colonial Nigeria crafts which deserve attention in this study are metal and woodwork. A careful study of the Nigerian history would reveal that, of all crafts, iron working was most significant to the overall economic and political development in pre-colonial period. The iron age was the period in which Nigerians started to actively dominate and control their environments. The discovery of iron gave rise to the manufacturing of iron tools such as hoes, knives, cutlasses, spears, axes and these influenced higher productivity in crafts, farming, fishing and hunting30. Apart from the economic revolution brought about by iron smelting, it also equipped most leaders with higher and stronger political power. For instance, the possession of iron weapons influenced military growth and subjugation of weaker communities by stronger ones31. The introduction of iron to Nigeria gave rise to black smithing all over the region. The earliest proof of iron smelting in West Africa was Nok, a village in central Nigeria , northeast of the Niger confluence and the Benue Rivers and southwest of Jos Pleateau32. The Yoruba , Igbo (especially Awka people) and Uneme (in Benin ) were famous in iron smelting technology in pre-colonial era. The Uneme, for instance, are said to have developed black smithing before C1370 and iron is said to have played important commercial role as it was used as a medium of exchange (native currency)33.

An important mineral production in pre-colonial Nigeria was gold. Gold was mined, consumed locally and exported. It has more economic value than other products, as it was mainly an article of foreign exchange earning34. In the pre-colonial period, Benin and Ile-Ife were famous for bronze casting and reputable centers of tin production existed in Jos Plateau and that of zinc in the lower Niger and Benue Rivers35. It is however important to note that production was hampered by high level of wood artistry of symbolic cultural value.

Ife and Benin had been regarded as the most famous among west African states in the use of brass and bronze. In skill, quality and beauty, the antique bronzes of Benin is said to have equalled those produced in any part of the world­43. It was once claimed by some Nigerian writers that both the Nigerian art of bronze casting and its use to portray natural figures of  humans and animals was imported by Europeans, either by legitimacy or through smuggling. If this was real, it would indicate that Nigerian art had already reached an admirable and enviable status of world standard before the advent of the imported art. The vital view to be accepted here is that, although European imports of brass and bronze supplemented Nigerian artistic output, much  Nigerian works in these alloys predated the arrival of the Portuguese in the 15th century44.

Studies have shown that naturalistic figures had been found in the Chad region in the So burial sites before the 15th century. Also, early peoples not known to have worked in bronze and brass had produced similar figures in other media. The ancient Nok people for instance, produced replicas of human heads and animals of high artistic merit and value as well as stylized motifs in wood, clay, gold, and ivory45.

Trade and transport system were equally germane to the growth and development of pre-colonial Nigerian economy. The Nigerian peoples had organized both regional and inter-regional trade based on regional specialization of production which implies the practice of the principle of comparative cost advantage. They developed local transportation system of the use of land (head portage) and water ways (canoes) and some forms of media of exchange, such as barter, Manilla, brass, iron, copper and cowry shells46. The various states, empires or kingdoms in pre-colonial Nigeria developed to prominence as a result of organized trade and relatively good means of transportation. Organization of market during this period was largely influenced by the bountiful agricultural and non-agricultural production of the peoples. As a result of variety of supply of commodities to market places, there was departmentalization of goods, orderliness and periodic market system in Nigerian states such as pre-colonial Yoruba society47. However, poor transportation system hindered mobility, production and distribution of goods and services to some extent.

It could be argued that since production was beyond family consumption and there was exchange of inter-regional level based on territorial specialization, the pre-colonial Nigerian economy was therefore beyond subsistence level. It has equally been argued that the organization of the trans-Saharan and trans-Atlantic trade in which Nigeria was an active participant was international in outlook48.

It has been opined by some western economists that factors of production were not well-co-ordinated and that there was no division of labour or specialization in pre-colonial Nigerian economy. This appears spurious and misleading. In the African traditional society, males and females are intrinsically assigned to different special socio-economic duties in which each sex would excel (sexual division of labour). Specialization was admittedly applicable to many aspects of Nigerian economic activities. For instance, the coastal dwellers who specialized in fishing took net mending as an area of specialization, while some people specialized in deep sea fishing (Oko-Ota or Ade-Odo), others were skillful in inland or fresh water fishing (eremi). In both areas of fishing activities, there were still many departments of special skills49. There is a saying among the Yoruba fishing people of the Niger Delta, “Oghomayi emayi” (specialization and skill vary from one person to another). This shows the extent to which specialization and skill acquisition was acknowledged in some pre-colonial Nigerian societies.

Labour was very crucial in the production process and free labour was more economical hence, pre-colonial Nigerians recruited labour through their wives, children, slaves and relatives. In some cases, supply of labour was through communal assistance. One tenable reason for marriage of many wives among Nigerian men was to secure adequate, cheap and steady supply of labour. Adam Smith, in his Wealth of Nations affirms “a numerous family of children, instead of being a burden was a source of opulence and prosperity to the parents”50. This strongly reinforces the economic philosophy of African practice of polygany.

Land tenure system was practised to suit socio-economic requirements of the period. Admittedly, land was plentiful in relation to the Nigerian population51. Capital was raised through personal savings, borrowing from friends, relatives, co-operatives (egbe or esusu) or from family or community coffer.

A vital factor in the structure of pre-colonial Nigerian economy was entrepreneurship. This is an important factor of production in any economy at any time. It would be gainful to look into what an entrepreneur is in order to ascertain if pre-colonial Nigerians actually merited the quality. Some think of entrepreneurship primarily as innovators, others think of them chiefly as managers of enterprises, others again place major emphasis on their function as mobilizers and allocators of capital52. Hosetitz further argued that an entrepreneur is a business leader, who guides the action of a private productive enterprise and who makes the crucial decisions on the use of productive factors on their remuneration on the nature and style of commodities or services to be produced, and on the timing and other aspects of the production and marketing process53.

In the pre-colonial Nigeria , as in other parts of the world, other factors of production such as capital, land and labour were effectively organized and utilized for production. It therefore follows that all factors of production which existed would not be useful without entrepreneurs. The pre-colonial Nigerian entrepreneurs were rulers, chiefs, potentates, war chiefs, and other influential men and women who had enough wealth and power to mobilize other factors of production54. For instance, the Kano potentates organized the production of leather works, the Ijebu chiefs organized production of textiles, the Ilaje chiefs organized fish production, Ikale chiefs also organized production of farm crops. Madam Tinubu of Egbaland and Efunsetan of Ibadan also were among the notable women that organized slaves in their farms55. Distributions of goods were also made by Nigerian entrepreneurs by organizing long and short distance market bilaterally and multi-laterally within and outside their regions.

While it can be argued that most of the economic institutions and principles found in the industrial societies have their equivalence in non-industrial or simple societies such as pre-colonial Nigeria , it is still essential to note that, the factors of production and other elements in the structure of pre-colonial Nigerian economy such as agriculture and crafts had their peculiarities. Therefore, in order to make the work of economic historian and economist more meaningful to their audience, careful selection and application of relevant economic terms and principles are imperative.



Given the general features and myriads of sub-sectoral components of pre-colonial Nigerian economy, it is convincing that the economy was progressive in growth and responsive to innovation before colonization by Britain in the late 19th century. The study has shown that, pre-colonial Nigerian economy was a traditional African economic system in which production depended largely on families, communal efforts and professional groups or guilds. It should be noted that this traditional economic system, which can be referred to as “communalism” was intrinsically practised similarly in different autonomous regions of the geographical expression later known as Nigeria .

As a scientific analysis which relates to value-free nature of enquiry, the positivist stand-point reinforces the claim that, pre-colonial Nigerian economy was dynamic and market-oriented. It is the position of this economic philosophy that, the fundamental economic problem in any society, irrespective of place and point in history, is to provide a set of rules for channeling competition and resolving conflict among individuals who cannot satisfy all their wants given the constraints of scarcity. It has been argued by Roger Leroy for instance, that the aim of production throughout ages in the world remains the same and that human behaviours towards economic issues are universally similar56.

All these fundamental economic rules are said to be embedded in a framework of formal societal institutions such as laws and customs. The specific function of every economic system in any society would be, to take care of production, distribution and consumption of goods and services in order to create utility57. Pre-colonial Nigerian economy would not therefore, be an exception to these universal rules and principles. This study has in the light of these features demonstrated that pre-colonial Nigerian economy was dynamic, progressive and market-oriented.











1.                A detailed discussion and critique of the substantivist and formalist views could be found in zeleza J. A, Modern Economic History of Africa Vol. 1 ( Senegal : CODESTRIA) 1993 Pp 15 –16.

2.                See A. G Hopkins , An Economic History of West Africa: London : Longman, 5 –9.

3.                Roger Leroy Miller, Economics Today, New York : Harper Collins College Publishers, 1996, 122.

4.                Roger Leroy, Economics Today, P. 122.

5.                David C. Colander, Economics: Irwin Burr Ridge Sillinois Boston , Massachusetts Sydney , Australia 1994, 60 – 62.

6.                G. T Stride, C. Ifeka, Peoples and Empires of West Africa, ( Hong Kong : Thomas Nelson, 1971, 158.

7.                S. W Wooldridge and W. G East, The Spirit and Purpose of Geography: London, Hutchinson & Co Publishers, 1951, 23 –24.

8.                See Ogunremi G. O “The Structure of Pre-colonial Economy” P 16.

9.                Ogunremi, “The Structure of Pre-colonial Economy”     P 16.

10.           G. P Murdock, Africa, Its Peoples and Their Culture History: London , 1959, P 64.

11.           G. O. Ogunremi, P 15.

12.           G. O. Ogunremi, P 15.

13.           Ehinmore, O.M “Fishing in South-Western Nigeria in the 19th Century: A Study of the Ilaje Fishing Economy” AAU African Studies Review, Lagos , First Academic Publishers, Vol. 1, No 1, 2002, 56.

14.           See G. T Stride, C. Ifeka, People and Empires of West Africa , Hong Kong: Thomas Nelson, 1971, P 159.

15.           Ayodeji Olukoju: “Fishing, Migrations and Inter-group Relations in the Gulf of Guinea ( Atlantic Coast of West Africa ) in the 19th and 20th Centuries” Itinerario, Vol. XXV, European Journal of Overseas History P 70.

16.           Ayodeji Olukoju, P 70.

17.           Interviews held with Kalejaye Eniola, fisherman, about 85yrs, at Odonla, 20/5/2006 .

18.           Ehinmore, Omorele M. “A History of Fishing in Ondo State , 1950 – 1997: A Case Study of the Ilaje Coastal Area” (M. A Thesis, University of Lagos , 1998), 19-24.

19.           See G. O. Ogunremi, “The Structure of Pre-colonial Economy” 20.

20.           Interview held with Ariyo Odegbemi, hunter, 92yrs, at Erinje, 10/5/2006 .

21.           Ariyo Odegbemi gave detailed value of various kinds of animals and their special parts in preparation of traditional medicine before and even after the introduction of orthodox medicine.

22.           Interview held with Ariyo Odegbemi.

23.           G. O. Ogunremi, P 21.

24.           Bassey W Andah, Nigerians Indigenous Technology, (Ibadan, Ibadan University Press, 1992), Pp 1-4.

25.            See G. T Stride, C. Ifeka, P 159.

26.           Interview held with Edema Mejebi, at Warri, 16/6/2006 , 94yrs, an old trader and fisherman. This fact was reinforced by Ehinmore Ajao, a palace historian and an old musician, 10/6/2006 , about 82yrs interviewed at Mahin.

27.           A. E Afigbo, “Economic Foundations of Pre-colonial Igbo Society” in I. A Akinjogbin and S. O Osoba (eds), Topics on Nigerian Economic and Social History (Ile-Ife: University of Ife Press, 1980), P 15.

28.           G. T. Stride, C. Ifeka, P 159.

29.           See Interview held with Ariyo Odegbemi, 10/5/2006 .

30.           Dennis Williams: “An Outline History of Tropical African Art” in Joseph C. A Nene and Godfrey Brown (eds), Africa in the Nineteenth and Twentieth Centuries, (Ibadan: University Press, 1966), Pp 60-65.

31.           Nene and Godfrey Brown, P 60.

32.           Thurston Shaw, “The Pre-history of West Africa” in J. E Ade Ajayi and Michael Crowder (eds), History of West Africa, (London: Longman 1971), P 69.

33.           See Dennis Williams, “An outline History of Tropical African Art”, in African in the Nineteenth and Twentieth Centuries, P. 65.

34.           G. O. Ogunremi, P. 22.

35.           G. T Stride, and C. Ifeka, P. 161.

36.           G. T. Stride, and C. Ifeka P. 101.

37.           Richard and Jon Lander, Journal of the expedition to Explore the course and Termination of the Niger , ( London : 1932), 197.

38.           G. T Stride, and C. Ifeka, P. 159.

39.           N. A.I, Ilaje Intelligence Report, Ondo Province , by R. J. M. Curwen, file No O. D 119, 1937, P 35.

40.           Interview held with Fibilia Majofodun, at Ereke, 12/6/206, about 80yrs, a fish trader and mat weaver.

41.           Dennis Williams, P 70.

42.           See Bassey, W. Andah for detailed explanation of Nigerian Building Technology, Pp 55-70.

43.           G. T Stride, and C. Ifeka, P 160.

44.           Stride and Ifeka, P 160.

45.           Stride and Ifeka, P 160.

46.           Toyin Falola, “Trade and Market in Pre-colonial Economy” in G. O Ogunremi and E. K Faluyi (eds), An Economic History of West Africa Since 1750, Pp 61-71.

47.           I. A. Akinjogbin, “The Economic Foundations of the Oyo Empire” in I. A Akinjogbin and S. O Osoba (eds),        Topics on Nigerian Economic and Social History, Ife : University of Ife Press , 1980, Pp 35-42.

48.           E. E Evans-Pritchard, The Nuer: A Description of the Modes of Livelihood and Political Institutions of Nilotic People, Oxford , 1940, P 77.

49.           See detailed discussion of different areas of specialization in fishing in O. M. Ehinmore, “Fishing in Southwestern Nigeria in the 19th century: A study of the Ilaje Fishing Economy” Pp 58-62.

50.           Adam Smith, An Enquiry into the Nature and Causes of the Wealth of Nations: London , 1901, Book 1, P. 29, cited in G. O Ogunremi and E. K Faluyi, An Economic History of West Africa Since 1750, P 34.

51.           G. O. Ogunremi, “Traditional Factors of Production in Pre-colonial Economy in G. O Ogunremi and E. K Faluyi (eds), An Economic History of West Africa Since 1750, P 33.

52.           Bert F. Hoselitz, “The Development of African Entrepreneurs” in E. F Jackson (ed), Economic Development of Africa, Oxford, 1965, P 86. Cited in An Economic History of West Africa since 1750.

53.           Hoselitz: “The Development of African Entrepreneurs” P. 87.

54.           G. O Ogunremi, “Traditional Factors of Production”      P. 39.

55.           G. O. Ogunremi, P. 40.

56.           Roger Leroy Miller, Economics Today, P. 122.

57.           Roger Leroy Miller, P. 122. 

About the Author


O. M Ehinmore is a Lecturer I in the Department of History and International Studies,

Adekunle Ajasin University,

Akungba-Akoko, P.M.B 001, Nigeria ,

West Africa


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