Financial analyst Kalu Aja said that Nigeria’s economy was stronger under British colonial rule in the 1950s than it was following independence in 1960.
In a statement posted on his X account on Saturday, Aja revealed this.
He bemoaned the disappearance of Nigeria’s agricultural wealth, including groundnuts, palm oil, cocoa, and other commodities, following the post-independence period under the administration of the country’s most populous president, Bola Ahmed.
He claims that the leadership of colonial masters was responsible for the pre-independence prosperity of Nigeria’s agriculture industry and other industries.
Because it’s true, it’s unsettling to hear.
Everyone is aware that Nigeria was a global agricultural powerhouse in the 1950s, not only for yams but also for foreign exchange cash crops like cocoa (ranked third globally), groundnuts (ranked second globally), and palm oil (ranked third globally).
“What took place following independence? Today, where are the pyramids of palm plantations or groundnuts?
He wrote on X, “The truth is that those sectors prospered because of Oyibo; everything decayed when Oyibo left.”
According to the National Bureau of Statistics, the inflation rate was 15.15 percent in December 2025, but Nigerians are still struggling financially due to high living expenses.
Nonetheless, Tinubu’s administration maintained that the nation is headed toward recovery and expansion.