SOME SOCIO-ECONOMIC IMPACT OF NEOCOLONIALISM IN NIGERIA: AN ASSESSMENT

Abstract

Post-colonial Nigeria has been at the mercy and dictates of the neo-colonialists who have been influencing the development of the country in terms of economy, education, and other social system. Despite the termination of colonialism in 1960, Nigeria's development remains primarily tied to the dictates of those that had raped, balkanized and dehumanized its existence and sense of dignity during the inglorious years of colonialism. The European colonialists have now been joined by new imperialists like the United States of America to exploit the country's resources. There is virtually no section of Nigeria's development in which a U.S. presence would not be found. Through aid, loans, and construction of infrastructures, the U.S. and its counterparts, like Britain, France, China, Italy, Germany, and Spain, have taken over many national assets of Nigeria. In a very hapless situation, Nigeria had been lured into taking loans and infrastructural aid from those powers with terms and conditions unfavourable to the country. Going by this background, the paper examines the socio-economic effects of neo-colonialism on Nigeria. To achieve this, Primary and secondary sources of historical research were applied.