omohayek:

Britain didn't "kill" anything, the oil boom did. Look up Dutch Disease: the influx of huge sums of petrodollars after 1970 made domestic agriculture uncompetitive with imports, which destroyed the commercial basis for groundnut farming in the north (as well as the textile industries in the region). Unfortunately, Nigerians were too busy scrambling for their share of the windfall profits from oil to know or care about how the domestic economy was being hollowed out by the "strong" Naira people love so much - until the oil boom ended and reality slapped them hard in the face.

Wow , this was really insightful.

Meanwhile sensible countries like Netherlands just used the oil boom to their advantage to create a sovereign wealth Fund