Indigenous Entrepreneurship in Nigeria and International Trade: Travails and Resilience, 1918-1940

Abstract

Apart from the short period of trade boom of 1918 to 1921, the period between 1918 and 1940wastraumatic for business operators – European and African alike. It is well known that for any commercial activity to thrive, the conduciveness of its environments at the domestic and international levels are key factors. Between 1918 and 1940, overseas trade by colonial territories came under stresses and strains because the international commercial environment put serious check on export expansion, which contracted the frontier of market economy. Both the expatriate and African commercial interests as well as the colonial governments experienced financial set-back. The worst affected group was the indigenous commercial class who from the onset of colonial rule had been considerably limited by economic policies, which hindered their accessibility to the international markets. Largely, colonial commercial policies tilted in favour r of its strategic partners, namely, the European firms. As the struggle for survival of all stake-holders became inevitable during the depression, the prospects of the indigenous business group in overseas trade continued to fade out. The Lagos, Kano, Calabar and Port Harcourt Chambers of Commerce that protected European mercantile in various ways during the depression years continued to co-ordinate policies in the private sector in favour of their members. The commercial activities of the Levantines as well as the Indians and Japanese in the distributive trade further obfuscated the environment of operation for Africans. The paper aims to critically examine the factors that stunted the growth of indigenous entrepreneurship in the inter-war years. The resilience of the indigenous commercial group is equally discussed in terms of its ingenuity and making the colonial government to recognize its relevance.