Economic Development in Nigeria

Abstract

Economic development and deliberate policy to accelerate its pace are relatively recent concepts, but the facts of development and economic policies to bring it about are, of course, ancient. Mercantilist, Colbertian, cameralism Smithian policies, all had in mind what now is called development; and much of the discussion of the stages of growth with which German economists during the nineteenth century were so preoccupied is obviously a preoccupation with growth at a time at which pure theory concentrated on the allocation of resources and on slowly developing an intellectual apparatus of which one could cease to be ashamed.