As Nigerians contend with deepening economic hardship and escalating living expenses, a financial analyst, Kalu Aja, has ignited widespread public discussion by claiming that the nation’s economy was stronger during the era of British colonial administration than it has been since independence in 1960.
According to reports, Aja made the assertion in a post on his 𝕏 (formerly Twitter) account on Saturday, January 17. In his commentary, he drew a comparison between Nigeria’s economic performance in the 1950s and its present-day challenges, with particular emphasis on the decline of the agricultural sector.
While acknowledging that his position might be uncomfortable for many, Aja maintained that it was grounded in historical realities. He argued that Nigeria’s economy before independence was better structured and more efficiently managed, largely due to the administrative systems put in place by colonial authorities.
He noted that Nigeria was once a major player in global agricultural markets, producing not only food for local consumption but also export commodities that generated significant foreign exchange earnings. Crops such as groundnuts, palm oil and cocoa, he said, positioned the country among the top producers worldwide at the time.
“Everyone knows Nigeria was an agricultural powerhouse in the 1950s,” Aja wrote, stressing that the country ranked among the leading global exporters of groundnuts, palm oil and cocoa. He questioned how such a vibrant sector collapsed in the decades following independence, pointing to the disappearance of iconic symbols like the groundnut pyramids and expansive palm plantations.
Aja attributed the decline of agriculture and other productive sectors to poor leadership and weak governance in the post-independence period. According to him, the success recorded in those years was driven by strict administrative discipline, which he believes was lost after colonial rule ended.
“The uncomfortable truth,” he argued, “is that those sectors thrived under colonial administration, and once that structure disappeared, decay set in.”
His comments come at a time when many Nigerians are struggling with rising food prices, higher transportation costs and diminishing purchasing power. Although official data from the National Bureau of Statistics indicates that headline inflation eased to 15.15 per cent in December 2025, the impact of high living costs remains palpable across both urban and rural areas.
Meanwhile, the Federal Government under President Bola Ahmed Tinubu has continued to push back against claims of economic deterioration. The administration insists that recent policy reforms, including subsidy removal and broader fiscal restructuring, are deliberate measures intended to stabilise the economy and drive sustainable growth in the long term.
Government officials have repeatedly acknowledged the short-term difficulties faced by citizens but maintain that the reforms are necessary to correct long-standing structural weaknesses and lay the groundwork for economic recovery.
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