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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Trade as exploitation: perspectives on the political economy of colonial West Niger Igbo area, c. 1886-1930
Author:Nkem-Onyekpe, J.G.
Year:2008
Periodical:Lagos Historical Review
Volume:8
Pages:1-19
Language:English
Geographic term:Nigeria
Subjects:trading companies
modes of production
mercantile history
Abstract:The period from 1886, when the Niger Company was granted a royal charter to operate and dominate the commerce of the Lower Niger, through to 1930, marked the colonial penetration of this part of Nigeria and its subordination to merchant capital. The activities of the Royal Niger Company and those of its rival, John Holt and Company, which was established in the area in 1900-1901, heralded significant political and economic development, the development of trade in palm produce (palm oil, palm kernels), and the alteration of the structure of the local economy and the concomitant increase in the 'exchange value' component of production. The author analyses the economic impact of colonial penetration on production and exchange. He argues that, although the penetration of merchant capital in the area provided a 'vent for surplus' and therefore was a big fillip for the expansion of production, much of the benefit of expanded production was appropriated by merchant capital and its local agents, not only through the unequal terms of trade built into the system, but also through chicanery and deceit. Notes, ref., sum. [Journal abstract]
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