In seeking foreign aid for our development, our Government has allowed itself to be led into a blind alley by its Western masters and mentors.

“MONEY HAS NO EARMARK”
So says an old adage which is as true as ever. But our present Government has so imbibed the prejudices of Britain that it appears to see the very Devil himself in any foreign currency other than British or American.

Every vestige and every channel of the undue influence of Britain and her allies in and on Nigeria should be totally eradicated. This, in my view, can be done in three significant ways
FIRST, by the widening of the circle of our international friendship, and in particular by the immediate establishment of diplomatic, cultural, trade and other mutually beneficial relations with Soviet Russia, China, and Eastern Germany.

SECOND, by the progressive but accelerated termination of our undue economic dependence on British and other Western Agencies and Business concerns.

THIRD, by the translation or transformation of Nigeria into a Republic, and by the initiation, at an early date, of steps to this end.
The foreign policy of Nigeria should be independent, and should be guided by the following principles…In respect to the world in general:
a) The promotion of economic relations with all nations of the world.
b) Co-operation with all nations of the world in so far as they respect the ideals for which we stand.
b) Respect for the sovereignty of nations and non-interference in their domestic affairs.
c) Attraction of foreign assistance (capital, technical skills and training opportunities for Nigerians) on the most advantageous terms.

Chief Obafemi Awolowo. 3rd September, 1961

Excerpts Extracted by Ibrahim Olatoye Lawal

Source:http://www.osundefender.org/?p=243358

1961?

Awolowo 1961 hmmm?

@Op, How strong were dollar, pounds, and euro back then?

Answer me before both of us begin exchange spits now.