ABSTRACT
This chapter on wealth accumulation in Nigeria provides the context in which one can examine the extent to which wealth accumulation by the new generation of the Nigerian economic elite, such as Aliko Dangote, Folorunsho Alakija and Michael Adenuga, has reinforced uneven development. This chapter raises the question whether this indigenous elite serves the interest of the international capitalist class or are driven by national interests. The chapter provides a background of the political economy of post-colonial Nigeria and the emergent class contradictions, and then addresses the question of why Nigeria has not been able to benefit from capitalist development despite the emergence of a new class of elites – who are members of the world billionaire club.
