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THE EFFECT OF WAR ON THE NIGERIAN ECONOMY

Updated on August 23, 2010

 

 

The last war Nigeria experienced was the Civil War that started July 6 1967 and ended January 15 1970 and even now, the Nigerian economy still has scares from the war. At the end of the war, the south-east of Nigeria had suffered a great blow in every area of survival. Lands and properties were destroyed, starvation and all kinds of diseases came upon the land and the people's condition was critical. Things were as bad as the people of the south-east of Nigeria feeding on dead human flesh to survive. It was a great blow to Nigeria including economically.

It is now 38 years after the civil war and Nigeria (though would have had a far better economy if not for the war) is doing very well compare to some other countries that share the same class as a Developing Nation with Nigeria. There are a lot of rich raw materials that the soil of Nigeria is blessed with for example Nigeria has oil, cocoa, timber, palm kernel, ash and so many others and these raw materials are exported helping the economic growth. The industrial companies owned by Nigerians and foreign organizations that see Nigeria as a place to invest are greatly contributing to the growth of the Nigerian economy. The Nigerian stock market is growing so rapidly now and the Federal government is always trying to make sure the economy is stable and stays stable to attach more investors.

A war in this era of growth in the Nigerian economy will be a disaster to the economy because it is not strong enough to with stand it. No matter what kind of war, a civil war or a national war, the Nigerian economy will cripple and it will take more years to revive it than it took since the first civil war. Oil companies and other investors in Nigeria will have to shut down. The instability of the country will make the economy crumble. The prices of product will go so high; life in the country will become unbearable. Farm crops will be destroyed and survival will be difficult for the common man.

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    • sir_tallest profile image
      Author

      sir_tallest 2 years ago

      I will love you help if you need me to, just let me know what you might need and I will try to guide you to answer

    • profile image

      Shanequagriffin 2 years ago

      I am to write a research paper about the nigerian civil war in 1000 words and im stuck

    • profile image

      mubaarak ABDUR-RAHMAAN 2 years ago

      Infact,worth an inpresive job.you should not relent,because "a writer never die"

    • Mr. Happy profile image

      Mr. Happy 5 years ago from Toronto, Canada

      Thank You for the response Sir Tallest.

      "the country's government sold us out to them and keep selling us out" - Maybe it is time for a different government, with leaders who will support their own people and represent their own people and not give all your countries richness away to some multinational corporation who does not really care about the well-being of the Nigerian people.

      Just an opinion. I wish You all the best! And I wish Shell to have as good of a future as it has provided for the people where it takes the oil from. Just to be fair.

    • sir_tallest profile image
      Author

      sir_tallest 5 years ago

      sincerely....Most Nigerians are not happy with the idea....they make so much from us and offer close to nothing and we cant blame them....the country's government sold us out to them and keep selling us out,,,,

    • Mr. Happy profile image

      Mr. Happy 5 years ago from Toronto, Canada

      Thank You for writing this article. I am curious to know, what You think about the multinational corporations which are extracting natural resources from your country? Like Shell for example? Are you fine with what they do?

      Thank You for the conversation. All the best.

    • Joshuad profile image

      Joshuad 6 years ago from The World Of Making The Assumed Impossibilities Possible.

      Nigeria can become economically rich when the youths (leaders of tomorrow) plan well for their future.

      It's so impressive that many Nigerian youths are not Lazy.

    • Tom Cornett profile image

      Tom Cornett 7 years ago from Ohio

      Hopefully...the people of Nigeria can prosper well into the future. Welcome to HubPages! :)