Financial analyst Kalu Aja has ignited a significant debate by suggesting Nigeria’s economy performed better under British colonial rule than it has since gaining independence in 1960. This assertion comes amid widespread economic hardship and rising costs of living across the nation, prompting a re-examination of Nigeria’s post-independence trajectory. Aja’s controversial claims, shared on his 𝕏 (formerly Twitter) account, draw a stark comparison between Nigeria’s agricultural prowess in the 1950s and its current economic struggles.
Kalu Aja described his position as difficult but factual, arguing that Nigeria’s pre-independence economy thrived due to the effective governance and structure implemented by colonial administrators. He posited that the nation was once a dominant force in global agricultural production, not just for subsistence but for earning substantial foreign exchange through export-oriented commodities.
What is Nigeria’s economic situation post-independence?
Nigeria’s economic situation post-independence has been marked by significant challenges, including leadership failures, corruption, and a decline in key productive sectors. While the nation possesses vast natural resources, it has struggled to translate these into sustainable economic growth and prosperity for its citizens, leading to widespread economic pressure and rising living costs.
“Everyone knows Nigeria was an agricultural powerhouse in the 1950s, not just for yams, but for foreign currency cash crops like groundnuts (top two globally), palm oil (top three globally), and cocoa (top three globally),” Aja stated, highlighting the nation’s former economic strengths.
The analyst expressed lament over the disappearance of iconic agricultural landmarks and industries that once defined Nigeria’s economy, questioning their decline after independence. “What happened after independence? Where are the pyramids of groundnuts or palm plantations today?” he asked, underscoring the visible decay of these once-thriving sectors.
Aja attributed the collapse of these crucial sectors to leadership failure in the post-independence era, insisting that agriculture and other productive sectors flourished largely because of the administrative discipline of the colonial masters. “The truth is those sectors prospered because of oyibo; when oyibo left, everything decayed,” he added, directly linking the decline to the departure of colonial administrators.
These remarks by Aja arrive at a critical juncture when many Nigerians are grappling with worsening economic conditions. Rising food prices, escalating transportation costs, and a shrinking purchasing power are daily realities for citizens across the country.
Despite recent data from the National Bureau of Statistics (NBS) indicating a reported decline in headline inflation to 15.15 per cent in December 2025, citizens continue to feel the strain of high living costs in both major cities and rural communities.
However, officials within the current Federal Government, led by President Bola Ahmed Tinubu, have consistently dismissed claims of economic decline. They maintain that recent reforms, including subsidy reforms and fiscal restructuring, are essential short-term pains that are laying the groundwork for recovery and sustainable long-term growth.
The debate initiated by Kalu Aja’s statement brings to the forefront critical questions about Nigeria’s economic management and its path forward. Understanding the historical context and the factors contributing to the nation’s economic challenges is crucial for charting a course towards future stability and prosperity.
Nigeria’s economic future hinges on effective governance, diversification, and the revival of its productive sectors. Addressing the root causes of the perceived decay is paramount for rebuilding confidence and achieving sustainable development that benefits all citizens.
