Amid mounting economic pressure and rising living costs across the country, a financial analyst, Kalu Aja, has stirred public debate by asserting that Nigeria’s economy performed better under British colonial administration than it has since gaining independence in 1960.
Naijaonpoint reports that Aja made the controversial claim in a post shared on his 𝕏 (formerly Twitter) account on Saturday, January 17, where he compared Nigeria’s economic fortunes in the 1950s with its current struggles, particularly in the agricultural sector.
Describing his position as difficult but factual, Aja argued that Nigeria’s pre-independence economy thrived largely due to effective governance and structure imposed by colonial administrators.
“It’s uncomfortable to hear because it’s true,” he wrote.
According to him, Nigeria was once a dominant force in global agricultural production, not merely producing food crops for subsistence but earning substantial foreign exchange through export-oriented commodities.
“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.
The analyst questioned the disappearance of iconic agricultural landmarks and industries that once defined Nigeria’s economy, lamenting their decline after independence.
“What happened after independence? Where are the pyramids of groundnuts or palm plantations today?” he asked.
Aja attributed the collapse of these sectors to leadership failure in ...-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.
Aja’s remarks come at a time when many Nigerians are grappling with worsening economic conditions, including rising food prices, transportation costs and shrinking purchasing power.
Despite a reported decline in headline inflation to 15.15 per cent in December 2025, according to data from the National Bureau of Statistics (NBS), citizens continue to feel the strain of high living costs across major cities and rural communities.
However, the Federal Government, under President Bola Ahmed Tinubu, has repeatedly dismissed claims of economic decline, insisting that recent reforms are laying the foundation for recovery and sustainable growth.
Officials of the Tinubu administration have maintained that policy adjustments, including subsidy reforms and fiscal restructuring, are necessary short-term pains aimed at repositioning the economy for long-term stability.