Observation

This was also a popular question and was widely attempted by the candidates. A large number of             candidates interpreted the question correctly but some of them mixed up the colonial economy with             Christian missionary activities which resulted in low marks for the candidates. Generally, candidates             were expected to mention the following points in order to get good marks:

            (i)         The colonial economy of Nigeria emphasized the production of raw materials/cash                                    crops instead of food crops.
(ii)        Banking was introduced but credit facilities were denied Nigerian entrepreneurs.
(iii)       The economy was monopolized by the British merchants and companies
(iv)       Nigeria became a ready market for the sale of European manufactured goods.
(v)        The transportation networks were established.
(vi)       Establishment of communication network.
(vii)      The British currency was introduced and became the legal tender.
(viii)     Establishment of few industries.
(ix)       Establishment of foreign trading companies e.g. P. Z; UAC; S. C. O. A etc.
(x)        Repatriation of huge company profits to Britain
(xi)       Determination of fixed prices on all commodities.
(xii)      Construction of roads and railways mainly to promote external trade.
(xiii)     Establishment of air and sea transportation system.
(xiv)     Taxation was used as a veritable source of raising funds for British administration.
(xv)      Establishment of marketing boards.