Oil rents, international loans and Agrarian policies in Nigeria, 1970–1992

Okolie, Andrew C.

doi:10.1080/03056249508704121

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Review of African Political Economy

Volume 22, Issue 64

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Oil rents, international loans and Agrarian policies in Nigeria, 1970–1992

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Author(s): Andrew C. Okolie ^a

Publication date (Print): June 1995

Journal: Review of African Political Economy

Publisher: Review of African Political Economy

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Abstract

In 1970 the Nigerian government shifted the focus of its agrarian policies from peasant‐produced and state‐marketed cash (export) crop production to mechanisation and the concentration of land and food production in the hands of highly subsidised elites — mainly serving retired top military officers, bureaucrats and wealthy business people. It also tried to regulate production through public ownership, indigenisation of foreign enterprises, price, interest and exchange rate controls and the restriction of certain capitals from certain sub‐sectors. Contradictorily the government at the same time promoted the importation of large quantities of food. The elite farmers remained few, produced little food, and the welfare of the vast majority of the people was not improved; meanwhile bureaucracies were created and continued to reproduce themselves. By 1986 the government had begun to reverse those policies in compliance with a structural adjustment programme imposed by the IMF/World Bank. Subsidies, price, interest and exchange rate controls and the government's direct involvement in production were reduced or ended. The productivity impact of this shift was also minimal and welfare has suffered. These policy shifts result not from the impact of internal or external forces alone, but rather from a complex interaction between them.

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Journal

Journal ID (publisher-id): crea20

Journal ID (archive): CREA

Title: Review of African Political Economy

Publisher: Review of African Political Economy

ISSN (Print): 0305-6244

ISSN (Electronic): 1740-1720

Publication date (Print): June 1995

Volume: 22

Issue: 64

Pages: 199-212

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^a Department of Sociology , University of Toronto

Article

Publisher ID: 8704121 Coden ID: Review of African Political Economy, Vol. 22, No. 64, June 1995, pp. 199-212

DOI: 10.1080/03056249508704121

SO-VID: 28639072-14fd-4542-ad15-da6e6e68f68a

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All content is freely available without charge to users or their institutions. Users are allowed to read, download, copy, distribute, print, search, or link to the full texts of the articles in this journal without asking prior permission of the publisher or the author. Articles published in the journal are distributed under a http://creativecommons.org/licenses/by/4.0/.

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Figures: 0, Tables: 0, References: 34, Pages: 14

Bibliographic note

Adelakun Olufemi A. . 1984. . ‘Social Structure and Rural Development in Nigeria: A Study of Plateau State’ . , University of Cardiff. .
Alavi H. . 1979. . “‘The State in Post‐Colonial Societies: Pakistan and Bangladesh’. ”. In State and Society in the Third World . , Edited by: Goulbourne H. . London : : Macmillan. .
Andrae G and Beckman B. . 1985. . The Wheat Trap: Bread and Underdevelopment in Nigeria . , London : : Zed Press. .
Asobie H A. . ‘Nigeria: The Political Economy of Foreign Aid, 1960–1986 — an Overview'. In: . paper presented at the 14th Annual National Conference of the Nigerian Society of International Affairs; . Port Harcourt .
Awoyemi O. . Agricultural Credit and Finance in Nigeria. In: . proceedings of a seminar organised by the Central Bank of Nigeria; . April 27–30– 1981 ; , Lagos . . ‘Problems of Agriculture in Nigeria’. , Edited by: Ojo M O. . Central Bank of Nigeria. .
Bates R. . 1981. . Markets and States in Tropical Africa: The Political Basis of Agricultural Policies . , Berkeley : : University of California Press. .
Beckman B. . 1985. . ‘Bakolori: Peasants Versus State and Capital’. . Nigerian Journal of Political Science . , Vol. 4((1/2))
Block F. . 1977. . The Origins of International Economic Disorder . , Berkeley : : University of California Press. .
Bryan R. . 1987. . ‘The State and the Internationalization of Capital: An Approach to Analysis’. . Journal of Contemporary Asia . , Vol. 17((3)): 253––275. .
CBN (Central Bank of Nigeria). . 1977. . Annual Report and Statement of Accounts, 1977 . , Lagos : : Central Bank of Nigeria. .
D'Silva B and Raza M. . 1980. . ‘Integrated Agricultural Development in Nigeria: The Funtua Project’. . Food Policy . , Vol. 5((4))
Faruqee R. . 1994. . “‘Nigeria: Ownership Abandoned’. ”. In Adjustment in Africa: Lessons from Country Case Studies . , Washington , DC : : World Bank. .
Federal Office of Statistics. . Nigeria's Principal Economic Indicators, 1970–1990 .
FMAWRD (Federal Ministry of Agriculture, Water Resources and Rural Development). . October. 1989 . Agricultural Political for Nigeria . October. , p. 19
Freund B. . 1978. . ‘Oil Boom and Crisis in Contemporary Nigeria’. . Review of African Political Economy . , Vol. 13:
Grant C. . 1982. . ‘Africa's Untapped Wealth Still Fascinates Bankers’. . Euromoney . , May;
Heyer J. , eds. 1981. . Rural Development in Tropical Africa . , London : : Macmillan. .
Johnson GL, Scoville OJ, Dike GK and Eicher CK. . 1969. . Strategies and Recommendations for Nigerian Rural Development, 1969–1985 .
Kimmage K. . 1991. . “The Evolution of the ‘Wheat Trap’: The Nigerian Wheat Boom”. . Africa . , Vol. 60((4))
Kolko J. . 1988. . Restructuring the World Economy . , New York : : Pantheon Books. .
Lele U, yedeji A O, Bindlish V and Bumb B. . 1989. . Nigeria's Economic Development, Agriculture's Role and World Bank's Assistance, 1961–88: Lessons for the Future . , Washington DC : : World Bank. .
McMichael P and Myhre D. . 1991. . ‘Global Regulation vs. the Nation‐State: Agro‐Food Systems and the New Politics of Capital’. . Capital and Class . , Vol. 50:: 1––18. .
Mohammed A S. . 1986. . “‘Management of the Economy and the Current Economic Crisis’. ”. In Nigeria: a Republic in Ruins . , Edited by: Mohammed S and Edoh T. . p. 131––145. . Zaria : : ABU, Department of Political Science. .
NACB (Nigerian Agricultural and Cooperative Bank). . Guide to Applicants .
Obasanjo O. . 1990. . Not My Will . , Ibadan : : University Press. .
Okolie A C. . 1987. . ‘Rural Development and the Nigerian Peasantry: a Study of the Imo State Agricultural Development Project’ . , University of Port Harcourt. .
Oluwasanmi H A. . ‘Agriculture and Rural Development’. In: . Reconstruction and Developmenti in Nigeria: Proceedings of a National Conference; . Ibadan . . Edited by: Ayida A and Onitiri HMA. . Oxford University Press. .
Onimode B. , ed. 1989. . The IMF, the World Bank and the African Debt, vol. 2: The Social and Political Impact . , London : : Institute of African Alternatives and Zed Press. .
Tukura D. . 1985. . ‘The Political Economy of Food Dependency in Nigeria: a Case Study of the Lafia Agricultural Development Project’ . , Zaria : : Ahmadu Bello University. .
Watts M. , ed. 1987. . State, Oil and Agriculture in Nigeria . , Berkeley : : Institute of International Studies. .
Wood R E. . 1986. . From Marshall Plan to Debt Crisis: Foreign Aid and Development Choices in the World Economy . , Berkeley : : University of California Press. .
World Bank. . 1974. . Nigeria: Options for Long‐Term Development . , Baltimore : : Johns Hopkins University Press. .
1975. . The Assault on World Poverty . , Baltimore : : Johns Hopkins University Press. .
1989. . Sub‐Saharan Africa: From Crisis to Sustainable Growth . , Washington , DC : : The World Bank. .

Comments

Comment on this article

[1] Adelakun Olufemi A. . 1984. . ‘Social Structure and Rural Development in Nigeria: A Study of Plateau State’ . , University of Cardiff. .

[2] Alavi H. . 1979. . “‘The State in Post‐Colonial Societies: Pakistan and Bangladesh’. ”. In State and Society in the Third World . , Edited by: Goulbourne H. . London : : Macmillan. .

[3] Andrae G and Beckman B. . 1985. . The Wheat Trap: Bread and Underdevelopment in Nigeria . , London : : Zed Press. .

[4] Asobie H A. . ‘Nigeria: The Political Economy of Foreign Aid, 1960–1986 — an Overview'. In: . paper presented at the 14th Annual National Conference of the Nigerian Society of International Affairs; . Port Harcourt .

[5] Awoyemi O. . Agricultural Credit and Finance in Nigeria. In: . proceedings of a seminar organised by the Central Bank of Nigeria; . April 27–30– 1981 ; , Lagos . . ‘Problems of Agriculture in Nigeria’. , Edited by: Ojo M O. . Central Bank of Nigeria. .

[6] Bates R. . 1981. . Markets and States in Tropical Africa: The Political Basis of Agricultural Policies . , Berkeley : : University of California Press. .

[7] Beckman B. . 1985. . ‘Bakolori: Peasants Versus State and Capital’. . Nigerian Journal of Political Science . , Vol. 4((1/2))

[8] Block F. . 1977. . The Origins of International Economic Disorder . , Berkeley : : University of California Press. .

[9] Bryan R. . 1987. . ‘The State and the Internationalization of Capital: An Approach to Analysis’. . Journal of Contemporary Asia . , Vol. 17((3)): 253––275. .

[10] CBN (Central Bank of Nigeria). . 1977. . Annual Report and Statement of Accounts, 1977 . , Lagos : : Central Bank of Nigeria. .

[11] D'Silva B and Raza M. . 1980. . ‘Integrated Agricultural Development in Nigeria: The Funtua Project’. . Food Policy . , Vol. 5((4))

[12] Faruqee R. . 1994. . “‘Nigeria: Ownership Abandoned’. ”. In Adjustment in Africa: Lessons from Country Case Studies . , Washington , DC : : World Bank. .

[13] Federal Office of Statistics. . Nigeria's Principal Economic Indicators, 1970–1990 .

[14] FMAWRD (Federal Ministry of Agriculture, Water Resources and Rural Development). . October. 1989 . Agricultural Political for Nigeria . October. , p. 19

[15] Freund B. . 1978. . ‘Oil Boom and Crisis in Contemporary Nigeria’. . Review of African Political Economy . , Vol. 13:

[16] Grant C. . 1982. . ‘Africa's Untapped Wealth Still Fascinates Bankers’. . Euromoney . , May;

[17] Heyer J. , eds. 1981. . Rural Development in Tropical Africa . , London : : Macmillan. .

[18] Johnson GL, Scoville OJ, Dike GK and Eicher CK. . 1969. . Strategies and Recommendations for Nigerian Rural Development, 1969–1985 .

[19] Kimmage K. . 1991. . “The Evolution of the ‘Wheat Trap’: The Nigerian Wheat Boom”. . Africa . , Vol. 60((4))

[20] Kolko J. . 1988. . Restructuring the World Economy . , New York : : Pantheon Books. .

[21] Lele U, yedeji A O, Bindlish V and Bumb B. . 1989. . Nigeria's Economic Development, Agriculture's Role and World Bank's Assistance, 1961–88: Lessons for the Future . , Washington DC : : World Bank. .

[22] McMichael P and Myhre D. . 1991. . ‘Global Regulation vs. the Nation‐State: Agro‐Food Systems and the New Politics of Capital’. . Capital and Class . , Vol. 50:: 1––18. .

[23] Mohammed A S. . 1986. . “‘Management of the Economy and the Current Economic Crisis’. ”. In Nigeria: a Republic in Ruins . , Edited by: Mohammed S and Edoh T. . p. 131––145. . Zaria : : ABU, Department of Political Science. .

[24] NACB (Nigerian Agricultural and Cooperative Bank). . Guide to Applicants .

[25] Obasanjo O. . 1990. . Not My Will . , Ibadan : : University Press. .

[26] Okolie A C. . 1987. . ‘Rural Development and the Nigerian Peasantry: a Study of the Imo State Agricultural Development Project’ . , University of Port Harcourt. .

[27] Oluwasanmi H A. . ‘Agriculture and Rural Development’. In: . Reconstruction and Developmenti in Nigeria: Proceedings of a National Conference; . Ibadan . . Edited by: Ayida A and Onitiri HMA. . Oxford University Press. .

[28] Onimode B. , ed. 1989. . The IMF, the World Bank and the African Debt, vol. 2: The Social and Political Impact . , London : : Institute of African Alternatives and Zed Press. .

[29] Tukura D. . 1985. . ‘The Political Economy of Food Dependency in Nigeria: a Case Study of the Lafia Agricultural Development Project’ . , Zaria : : Ahmadu Bello University. .

[30] Watts M. , ed. 1987. . State, Oil and Agriculture in Nigeria . , Berkeley : : Institute of International Studies. .

[31] Wood R E. . 1986. . From Marshall Plan to Debt Crisis: Foreign Aid and Development Choices in the World Economy . , Berkeley : : University of California Press. .

[32] World Bank. . 1974. . Nigeria: Options for Long‐Term Development . , Baltimore : : Johns Hopkins University Press. .

[33] 1975. . The Assault on World Poverty . , Baltimore : : Johns Hopkins University Press. .

[34] 1989. . Sub‐Saharan Africa: From Crisis to Sustainable Growth . , Washington , DC : : The World Bank. .

Review of African Political Economy

Oil rents, international loans and Agrarian policies in Nigeria, 1970–1992

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