•From Regional Powerhouses to Fragmented States
•Strategies to Reclaim Nigeria’s Former Glory, According to Leading Economists
By Nnamdi Ojiego
When Nigeria gained independence on October 1, 1960, it was a nation brimming with optimism and potential. Blessed with abundant natural resources and led by a cadre of young, visionary leaders, Nigeria aspired to join the ranks of the world’s emerging economic powerhouses. Fast forward 65 years, and the country’s initial promise has largely faded into frustration and decline.
Once a shining example for Africa, Nigeria now grapples with erratic electricity, decaying industries, and a political elite more skilled in patronage than in institution-building.
At independence, Nigeria’s leadership was characterized by foresight and dedication. Without the windfall of oil wealth, they established schools, industries, agricultural projects, and financial institutions, planning for the long term rather than short electoral cycles. Their initiatives transformed society and laid the groundwork for a prosperous nation. However, decades of corruption, mismanagement, and shortsighted policies have gradually dismantled these foundations, leaving the country directionless.
Regional Experiments in Development
In the years surrounding independence, Nigeria’s regions served as incubators for innovative development models. The Western Region, under Chief Obafemi Awolowo, emerged as a leader in industrialization and education. The Eastern Region, guided by Dr. Nnamdi Azikiwe and later Dr. Michael Okpara, embarked on what was termed an “economic revolution.” Meanwhile, the Northern Region, led by Sir Ahmadu Bello, prioritized agriculture and education as pillars of growth.
Awolowo transformed cocoa revenues into lasting infrastructure. The iconic Cocoa House in Ibadan, once the tallest building in West Africa, symbolized prudent financial stewardship. Facilities like Liberty Stadium and Western Nigeria Television-the continent’s first TV station-reflected a pioneering spirit. His policy of free primary education dramatically increased literacy and opportunity, while the Western Nigeria Development Corporation (WNDC) fostered factories, banks, and insurance companies that generated employment. These achievements were realized without reliance on foreign aid or oil income, relying instead on judicious resource management.
In the East, Okpara championed both agriculture and industry. Agro-industrial estates thrived in Aba, Enugu, and Port Harcourt. Enterprises such as Nigercem in Nkalagu, Golden Guinea Breweries in Umuahia, and various textile and glass factories expanded the industrial landscape. Palm oil and rice plantations propelled the East to become one of Africa’s fastest-growing economies. The University of Nigeria, Nsukka, became a vital institution for developing skilled professionals.
The North, historically marginalized, found a transformative leader in Bello. Ahmadu Bello University in Zaria grew to be the largest university in sub-Saharan Africa. The Bank of the North and the Northern Nigeria Development Corporation (NNDC) invested in textiles, manufacturing, and hospitality. Agricultural prosperity was epitomized by Kano’s groundnut pyramids, which symbolized export-driven wealth.
A Heritage Squandered
These milestones were achieved with far fewer resources than those available to Nigeria’s current leaders. Before oil reshaped the economy, visionary governance delivered enduring progress. However, the oil discovery soon became a double-edged sword. The military’s intervention dismantled the parliamentary regional governments, replacing them with 12 states and a dominant federal government, reducing states to mere administrative units.
Subsequent state creations increased the number to 19, then 36, but instead of growing stronger, these states weakened. The adoption of a presidential system after military rule further centralized power. Since then, trillions of naira have been misappropriated, leaving behind widespread poverty, insecurity, and hopelessness.
Factories that once employed thousands now stand abandoned. Nigercem’s plants are silent. Cocoa and palm plantations that once funded schools and roads have been overtaken by neglect. The iconic groundnut pyramids have disappeared. Instead of industrial estates, politicians hand out motorcycles and pepper grinders as “empowerment” tools.
The crisis is not merely incompetence but blatant corruption. Public funds are routinely embezzled. Loans disappear into private accounts. Public office has become a pathway to immense personal wealth, while the populace suffers hunger and joblessness.
From Visionaries to Inept Administrators
At 65, Nigeria’s leadership standards have plummeted. Awolowo, Okpara, and Bello governed entire regions with clear development plans. Today’s governors struggle to account for their monthly allocations. The federal government fails to maintain refineries, yet pours billions into subsidies and repairs with no results.
Universities, once regional pride, are crippled by strikes. Agriculture, once export-oriented, is abandoned as insecurity drives farmers from their lands. Industries have been replaced by inflated contracts and offshore accounts. The national ambition that once inspired millions has evaporated.
Lessons from 65 Years
Nigeria’s decline is not a matter of destiny but of leadership failure. The founding fathers, with limited resources, built institutions that lasted. Their legacies prove that development is achievable when leaders prioritize vision over personal enrichment. Industrial estates, universities, and financial institutions were their gifts to future generations.
Today’s ruling class offers no such legacy. Instead, it presides over mounting debt, crumbling infrastructure, and widening inequality. Where the pioneers planned for decades, their successors focus on election cycles. Where the founders built, their heirs plunder.
A Call for Renewal
The greatest loss is not just in derelict factories or overgrown plantations but in the death of national ambition. Nigeria once competed with countries like Malaysia, India, and Indonesia. Today, those nations are global economic players, while Nigeria struggles to provide reliable electricity. Indonesia is a G20 member; Nigeria cannot guarantee power to its citizens.
At 65, the gap between Nigeria’s promise and its reality is stark. The nation’s story is one of missed opportunities and fading legacies. Without a new generation of leaders who embrace the courage and foresight of the founding fathers, the divide between Nigeria and its former peers will only grow.
The verdict on the current leadership is unequivocal: they have failed to govern effectively, plan strategically, or dream boldly. Until governance returns to the discipline, vision, and integrity of the first generation, the hopes of 1960 will remain a painful memory.
Collectively, the original three regional governments left behind at least 65 significant legacies, many of which, 65 years after independence, have either vanished or are struggling to survive.
Industries lie dormant, farm settlements abandoned, schools deteriorate, and politics has devolved into a contest for power and spoils. What caused this downfall?
Western Region under Obafemi Awolowo
Awolowo’s tenure was defined by a focused drive toward industrialization, education, and modern infrastructure.
Education & Social Services
• Introduced Africa’s first free primary education program.
• Expanded rural hospitals and clinics.
• Fostered cooperative movements leading to the Cooperative Bank (1953) and Cooperative College.
Industrialization & Finance
• Founded the Western Nigeria Development Corporation (WNDC) in 1958.
• Established enterprises including WAPCO Cement (Ewekoro), Nigerite Ltd, National Bank, Wema Bank, Nigerian General Insurance, Great Nigeria Insurance, Cocoa Processing Industry, Odua Textile Mills, Union Beverages, Phoenix Motors, and Nipol Plastics.
• Developed industrial estates in Ibadan, Ikeja, and Mushin, hosting over 120 factories producing textiles, aluminum, tires, beverages, and more.
• Constructed Western House on Broad Street, Lagos, through Wemabod Estates.
Infrastructure & Landmarks
- Cocoa House in Ibadan, the tallest building in West Africa at the time.
- Liberty Stadium, then the most advanced stadium in Africa.
- Western Nigeria Television and Broadcasting Service (WNTV/WNBS), Africa’s first radio and TV stations.
- Over 2,000 kilometers of road networks across the region.
All these accomplishments occurred between 1951 and 1959, without oil revenue.
Eastern Region under Dr. Nnamdi Azikiwe and Dr. Michael Okpara
The East embarked on an “economic revolution,” emphasizing agro-industrial estates, cooperatives, and indigenous entrepreneurship.
Industrial Estates and Public Corporations
• The Eastern Nigeria Development Corporation (ENDC) led industrial and estate development.
• Industrial estates in Trans-Amadi (Port Harcourt), Aba, and Enugu housed companies in textiles, glass, ceramics, and plastics.
• By 1964, the East had the highest concentration of small and medium-scale industries in Nigeria.
Flagship Enterprises
• Golden Guinea Breweries in Umuahia.
• Premier Breweries in Onitsha.
• Nigerian Cement Company (NIGERCEM) at Nkalagu, one of West Africa’s largest.
• Okatana Shoe Industry in Owerri.
• Enugu Vegetable Oil Products (ENUVOP).
• Aluminium Industry in Ikot Ekpene.
• Glass Industry in Aba.
Agricultural Estates and Plantations
• Extensive government-owned palm oil, rice, and cashew plantations across Abak, Uzo-Uwani, and other areas.
• The East was a leading global exporter of palm produce before the civil war disrupted the sector.
Education and Health
• Expanded secondary schools and teacher training colleges.
• Founded the University of Nigeria, Nsukka (UNN) in 1960, the country’s first indigenous university, championed by Azikiwe.
• Developed regional hospitals and rural health programs.
Infrastructure and Commerce
• Port Harcourt evolved into an industrial and commercial center.
• Onitsha and Aba became hubs of indigenous Nigerian commerce, nurturing the first generation of African entrepreneurs.
By the mid-1960s, the East was among Africa’s fastest-growing regional economies.
Northern Region under Sir Ahmadu Bello, the Sardauna of Sokoto
The North adopted a cautious but inclusive development approach, focusing on education, agriculture, and regional cohesion.
Education
• Prior to 1950, the North had fewer than 10 secondary schools. Under Bello, extensive investments established schools throughout the region.
• Founded Ahmadu Bello University, Zaria (1962), which became the largest university in sub-Saharan Africa.
• Established teacher training colleges and institutions like the Institute of Administration, Zaria, to build local expertise in governance and business.
Industrial and Commercial Development
• Created the Northern Nigeria Development Corporation (NNDC), paralleling WNDC and ENDC.
• Invested in banks, hotels, textiles, and agriculture.
• Kano became West Africa’s textile center with factories like Kano Textile Factory.
• Established the Bank of the North (1961) to support indigenous entrepreneurs.
Agriculture
- Expanded the groundnut pyramids in Kano and Sokoto, making Nigeria a leading global exporter.
• Modernized cotton, hides and skins, and livestock sectors with government support.
• Initiated large irrigation and river basin projects to boost farming.
Infrastructure and Utilities
• Developed precursor projects to Kaduna Refinery and industrial estates in Kaduna.
• Expanded hospitality with hotels like Hamdala Hotel in Kaduna.
• Extended regional road networks connecting remote communities to trade centers.
Health and Social Services
• Expanded general hospitals in major cities.
• Promoted community development programs supporting cooperatives and local industries.
Reclaiming Nigeria’s Paradise
The erosion or stagnation of these legacies represents a lost golden era. How can Nigeria restore this “Paradise”? Two prominent economists, Mr. Dele Oye, former President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), and Dr. Muda Yusuf, former Director General of the Lagos Chamber of Commerce and Industry (LCCI), share insights on Nigeria’s early economic foundations, the causes of its decline, and the path to recovery.
Foundations of Early Prosperity
Oye describes Nigeria at independence as “relatively affluent,” with an economy supported by a diverse export portfolio including cocoa, groundnuts, palm oil, rubber, cotton, tin, and coal.
He highlights the role of small-scale farmers and traders in sustaining productivity, alongside banks, missionary schools, and a professional civil service that underpinned administration and commerce.
Yusuf emphasizes the federal structure’s role in enabling regions to capitalize on their strengths. “The regional governments were the engines of growth,” he notes. “Awolowo in the West, Bello in the North, Okpara in the East. Decentralization allowed regions to manage their resources and compete, each setting its own priorities.”
The Decline
The 1970s oil boom marked a turning point. Oye explains that oil dependence triggered “Dutch disease,” diverting focus from agriculture and manufacturing and fostering rent-seeking behavior. “Oil revenues concentrated power, weakened tax systems and accountability, and encouraged patronage and corruption,” he says. Military regimes and fragile institutions further eroded governance, while underinvestment in education and infrastructure stifled productivity.
Yusuf points to leadership failures as central. “Corruption was rampant. Infrastructure development was inadequate. Without good leadership, infrastructure suffers, and without infrastructure, productivity and competitiveness decline,” he observes.
While Oye views Nigeria’s trajectory as one of lost wealth, Yusuf notes some progress remains. He cites advances in ICT, entertainment, media, and finance.
“Our musicians have global reach. Today, we have nearly 600 broadcast stations, compared to just NTA and Radio Nigeria in my youth,” he says. Yet rapid population growth has outpaced economic gains, deepening poverty and inequality.
Why Asia Surged Ahead
Both economists agree that governance and policy choices explain the divergence from Asia.
Oye points to the Asian Tigers and India as examples of meritocratic institutions, consistent long-term planning, and disciplined macroeconomic management. Countries like South Korea, Malaysia, and Indonesia invested heavily in education, built export-driven industries, and fostered productivity incentives while combating corruption.
Yusuf concurs, emphasizing leadership deficits. “Our peers built infrastructure and human capital while we were distracted by corruption and mismanagement,” he asserts.
Path to Recovery
Both experts propose reforms to restore Nigeria’s trajectory.
Oye advocates for a “national compact” uniting government, business, labor, and civil society around clear targets: macroeconomic stability, transparent fiscal management, diversified industrialization, and human capital development. His plan includes immediate fiscal discipline and digital transparency, medium-term investments in education and industrial parks, and long-term institutional reforms.
Yusuf prioritizes initiatives with the greatest social impact: infrastructure, education, job creation, and transparency. “We must invest in education to reduce the number of out-of-school children who risk becoming terrorists,” he warns. For him, fighting corruption and strengthening productive sectors beyond services are essential.