Maduawuchukwu:
I enjoyed the debate on this thread. Both sides maintained decorum. I love history and love to hear from both sides; as long as there is no rancour and insults.

proeast:
There is no doubt that most people, particularly those that do not have either basic or international economics background are overwhelmed by the subject of INDIGENIZATION OF FOREIGN COMPANIES IN NIGERIA because of their inability to understand the economics of it and the efficacies to make the necessary connections and relate it to the present economic doldrums, some simply brush it aside or worse, simple minimize its far reaching implications particularly on the Igbo. In so doing, majority of us dabble into analysis of how terrible Igbo has managed their affairs since after the civil war, while leaving out a huge chunk of the elements that need to be factored into their analysis. The unspeakable effect of the policy of indigenization on the Nigerians was wicked and dastardly. The economic damage on the Igbo is impossible to calculate. The psychological toll on the Igbo is still reverberating amongst the Igbo today and creating identity crisis.


Some folks will argue that we should drop the subject because it happened forty years ago, which is equivalent to saying that because slavery, Jim Crow and the holocaust happened years ago, and for that reason, they have no relevance in today’s analysis. How can any credible analysis of American history not include slavery and its implications, or how can any Jewish history not include the Holocaust and its implications and effects, but that is what some folks want us to do, to avoid or forget one of the most devastating economic policies that changed the economic landmark of Nigeria, second to the genocide of more than three million Igbo committed by the same man, Awo, and still arrive at any meaningful analysis. I believe that the incredulity that any ethnic group is capable of visiting such devastation on another is still an obstacle that the subject is struggling against and must overcome. It is not that most people do not know what happened, it is simply that they do not want to believe that it happened because it is mind-bending. I also believe that if we do not tell the story over and over, the Yorubas will not tell and neither will the Hausa tell it, as a matter of fact they always wish that it will go away. So whether they like it or not, we must continue to broadcast what happened until people start to understand the effect of the policy not only on the Igbo but on the nation as a whole. Suffice to say that after Awo and the Yoruba succeeded in executing the indigenization decree and became overnight millionaires, many Igbo packed their bags and left Lagos to the East –ala Igbo, where they shortly died out of heart break because some of them also suffered the deprivation of their properties due to Abandon Property Policy in Lagos and Port Harcourt.

proeast:

It is no more news worthy to point out that before the civil war that Igbo out of their capacity for honesty, to work hard, to produce, to innovate, to manage, create and persevere were able to penetrate all facets of Nigerian endeavor, when the British used merit as a yard stick. It is an irrefragable fact that even Yoruba would not dare challenge that fact, if not, what started the Yoruba hate, envy and jealousy against the Ibo in the first place, Yoruba and Hausa claimed that Ibo was dominating everything in the country but what they will not acknowledge publicly was the fact that the British were making the decisions about who to hire by their own standard and not by Igbo standard and that Igbo was good at what they did and better than them. The Yoruba and Hausa wanted not only equal opportunity they also wanted equal outcome regardless of effort and everyone knows that that is impossible.

There is one very important fact in my analysis that I want everyone to get, and that is that before the civil war, Nigeria as a nation did not have an economy of its own. Let me say it again, that Nigeria as a nation before the British/Biafran civil war did not have an economy of its own. I emphasized that point in other to say that whatever seemed like Nigerian economy were British owned. Put differently, if you excluded few of the regional cooperatives and some joint ventures businesses which were mostly British engineered to make buying raw materials easy for the British, every other aspect of the economy were owned majorly by the British, even the military, given the fact that almost every military supply came from Britain. It is then safe to say that British investment in Nigeria amounted to a great totality of Nigerian economy or that Nigerian economy was at that time synonymous to the total investment of the British....

horsepower102:
"I believe that the question that the benign ignorant should be asking going forward is what did Yoruba do with all these assets and corporations that they stole. How did the country fair under the Yoruba management of the Nigerian economy? How did the Yoruba managed economy relate to today’s economic malaise? Hope they can make the connections......"


Great question. I have asked them similar questions in the past.

proeast:


They're obviously not good managers. People that has owambe and Jaye-Jaye attitude to life can't possibly be good managers. It becomes worse when such a person or people are giving big businesses and companies to manage at short notice.

It will definitely go downhill and that's what happened when Awo handed them all those companies on a platter of gold.

How can you give such person loan and still ask him to use the same loan to buy huge companies he obviously can't run efficiently?

Remember that Nigeria was at par with many of the Asian countries then. After that Indignization decree of 1972, the foundation of our economy was destroyed and we never recovered from it because it was structural. On the other hand, most of those Asian countries are economic Giants today.

solmusdesigns:

Lol

You lots are just revealing yourself more and more to over 300 tribes of Nigerians and they would judge you accordingly with all your propaganda because must understand the history and laugh at your sneaky attempt of rewriting history

An Average Hausa Fulani teenagers knows who whipped Sarduna and his last wife in cold blood , same as Ogbomosho people knows how Samuel Ladoke Akintola was murdered, all Ijaw people know how Ojukwu ended Major Isaac Adaka Boro ended


.

proeast:


Remember that Nigeria was at par with many of the Asian countries then. After that Indignization decree of 1972, the foundation of our economy was destroyed and we never recovered from it because it was structural. On the other hand, most of those Asian countries are economic Giants today.

helinues:
Mtcheeew..

Na copy and paste from Upper Iweka writer...

Summarize the damn epistle and let's argue about it

horsepower102:


But both sides cannot be right at the same time. Trust me I enjoy decorum too but one side is trying to maintain lies while the other side is trying to expose it.

I have said similar things in the past about Nigerian economy when the yorubas completely took over. They destroyed the economy with their Hausa Fulani masters.

It’s was finally during OBJ administration that he smartly put few igbos in key positions. That’s when some progress started being made.

Majority of the companies that they stole during indiginization policy are bankrupt and looted.

Difrent:


which merit? its not merit but because the ibos were mostly servants and messengers to the British they could speak passable pidgin english thats why the british employed them to fill administrative and public service vacancies which is no big deal.....lots of people are trooping to asia and eastern europe to teach english language are you saying its competence thats driving that? No its demand and supply thats why when the Northern elites led by Ahmadu bello felt they have people to fill those vacancies, the only reasonable thing to do is to fill them with indegenes and excuse the ibos.....thsi of course did not go down well with the ibos thats why they were reported to be jubilating the death of Ahmadu Bello in the hands of young ibo soldiers who had the backing of the igbo elites in the east, an action that fuelled public anger against the ibos in the north leading to the civil war .......im sure you will say its Awolowo that made Zik to be fighting for the control of western Nigeria, Typical of the greedy ibo man, your Political leaders want to control the western and eastern regions and when that failed they instigated their young ones in the army to plan a coup......they got trashed both ways..................i really understand the anger of the young ibo, but your enemy are your leaders and not leaders of other tribes.........it can really be painful being a member of a tribe whose name is so blemished ,no one trusts and worthless politically, i mean Buhari has proved that anyone can become president without ibo votes . PELE

Obamaofusa:


Indigenization was done by Gowon and not Awoliwo.Yorubas bought most of the companies because they have always been the richest people in Nigeria and very much business savvy than the Igbos who have always looked up to the Yorubas.

If anything is based on merit,it is common knowledge that Yorubas will always whip the Igbos almost in all endeavours. History,continual events and facts not propagandas are testifiers to this maxim.

horsepower102:


A study from one of America’s prestigious university (I forgot the name) in the 60s showed that the eastern Region was the fastest growing region in the world before the uncivil war. This is on record.

Also have you notice something. Whenever an outside organization comes to Nigeria to assess the situation, the East tends to do great on statistics but the statistics from Nigeria always show the opposite.

horsepower102:


SMFH are you for real? Ok believe whatever you choose to believe. There is no point debating with a delusional person.

proeast:


Yes, I have seen similar records of indices on human capital development prior to the civil war, and the East was tops.

If the economy was handed to the Igbos, instead of them, Nigeria wouldn't have been in this mess it has found itself.

Most progressive countries only use their best brains regardless of who or where the person came from. This is a policy America applied that helped them to become great. However, when it comes to Nigeria, a person's place of birth takes preeminence over competence.

Is it not mind boggling that despite all the unfair advantages and headstarts they have over Igbos including the devastating war that brought Igbos to their knees, the same Igbos have able to squeeze out wealth from the proverbial stone. In about 5 decades, we were able to overcome the handicap and odds they used and still using to hold us down.

Igbos have succeeded in clawing themselves back to the top of the food by sheer dint of hardwork and perseverance and are now running neck to neck with them and even ahead in some areas.

In trying to keep Igbos down, Nigeria shot itself at the foot. A classic example of cutting one's nose to spite his face

proeast:
obtain loans from their Yoruba dominated banks to make the most minimal of offers to the British as there were no competitions. The British had no choice but to accept any offer as the alternative was losing everything to the federal government.

The British lost pretty much all their investment to the Yoruba whose stock in trade is robbing and stealing any and everything they can get their hands on. Thousands of Yoruba became millionaires overnight and there was jubilation and owanbe all over Yoruba land. Yoruba had parties day and night and weekends. They closed streets to display their new found wealth as they partied.

horsepower102:


I am an Igbo man yet I marvel at the rate of recovery that the igbo people made after the war despite all the evil limiting policies against them. Now imagine how those who actually created those policies feel. They are angry and extremely disappointed that their plans didnt work out the way they hoped. If anything, it backfired,

horsepower102:


I am an Igbo man yet I marvel at the rate of recovery that the igbo people made after the war despite all the evil limiting policies against them. Now imagine how those who actually created those policies feel. They are angry and extremely disappointed that their plans didnt work out the way they hoped. If anything, it backfired,

Eriksson:


I thought Yoruba did not dominate the banks till after indigenization? So how were they able to do as you claimed up there?

Eriksson:


Drugs and Rituals bro...Drugs and Rituals are the secret

No need to marvel at any goddamned 'rate of recovery'

masseratti:
I don't have the time to be stating you the author blatant lies, 1st you said the indigenization decree was 1972 right? Are you aware Awolowo resigned as finance minister in 1971? You said wema bank was owned by the British how? When, I can count five companies you stated that were founded by Nigerian not foreigners.

Stop lying to your kids against people who did nothing wrong to you, its on records that yorubas kept your fathers houses for you in lagos, ogún and Ibadan after the Civil war, dont repay good with evil the Bible preached against it, try and make heaven, even the Bible you read in your language was written by a yoruba man.

proeast:


Lol, funny people. At the first bold part, your assertion is quite ridiculous to say the least. Do you even know that during colonial times, most Nigerians were just illiterate farmers, hunters, petty traders and other basic vocations. So anyone who was working with the British either as Messengers or interpreters were relatively highly regarded. These were highly sought after jobs but the British would only employ those that are competent which made most of those jobs to be taken by Igbos. These set of people will eventually form bulk of the elite and their children ended up being educated and enlightened.

The second bold part is another indictment on Awolowo. Ziks party, the NCNC won a majority in the Western region. Zik as the leader of the party was naturally expected to become the premier of the Western region. Remember that at this same period in the East, an Ibibio man, I think his name is Eyo Ita, was also about to become the premier of Eastern region where Igbos are the overwhelming majority. What did Awo did? Instead of accepting that his party did not win enough seats for him to be the premier of Western region, he resorted to tribalism. This was actually how tribalism and ethnocentrism became a major criteria for one to qualify for any political position. Awo called a meeting of his people and told them that Zik is omo Igbo and shouldn't be allowed to become their premier. This was how the infamous cross-carpeting of Yoruba NCNC to AG occurred. If Zik was allowed to become the Western premier and Eyo Ita as premier of Eastern region, today, all these tribalism that has rubbished our claim as a nation wouldn't have taken hold.

Lastly, you said that Buhari has shown that anyone can become president without Igbo support. Well, yes, I agree with you but also remember that anyone can become president without Yoruba support. All the North needs to do to win any election is to either team up with Igbos or Yorubas. So, your point here too is baseless.

masseratti:
I don't have the time to be stating you the author blatant lies, 1st you said the indigenization decree was 1972 right? Are you aware Awolowo resigned as finance minister in 1971? You said wema bank was owned by the British how? When, I can count five companies you stated that were founded by Nigerian not foreigners.

Stop lying to your kids against people who did nothing wrong to you, its on records that yorubas kept your fathers houses for you in lagos, ogún and Ibadan after the Civil war, dont repay good with evil the Bible preached against it, try and make heaven, even the Bible you read in your language was written by a yoruba man.

Eriksson:


Nothing prestigious in being a lapdog of the white man and betraying your own people. That's why it was only in the east we had warrant chiefs who became to Ezes and Obis of today.

And till tomorrow the most irresponsible traditional rulers are the Ezes of ala Igbo. Till tomorrow.

Eriksson:


Don't mind that bunch of liars.

The same WEMA bank, Agbonmagbe?

Dedetwo:


Point of correction. Samuel Ladoke Akintola committed suicide. Isaac Adaka Boro was killed by a Yari.ba egocentric loudmouth. Sardauna and wife were killed by one of them.

proeast:


So many companies and brands were mentioned so why pick out only one?
What about former Barclays Bank and several others?

masseratti:
you lie too much, are you not ashamed?

Eriksson:


Nothing prestigious in being a lapdog of the white man and betraying your own people. That's why it was only in the east we had warrant chiefs who became to Ezes and Obis of today.

And till tomorrow the most irresponsible traditional rulers are the Ezes of ala Igbo. Till tomorrow.

masseratti:
you lie too much, are you not ashamed?