ABSTRACT
Nigeria's attainment of political independence pushed the issue of national economic development and economic independence into the center of domestic politics most intensively from 1961 to 1962. The foreign economic strategy proposed by the ruling regime had the effect of strengthening Nigeria's colonial ties to the Western political economy. To show how the Nigerian leadership perceived the development concerns, this chapter focuses on the first national development plan, 1962-1968, and the highly controversial debate on the question of nationalization. Projections were made and targets were formulated for the performance of the entire Nigerian economy—both public and private sectors, both current and capital needs. The chapter illustrates the proposition that the post-independence ruling elite in Nigeria consciously sought to cultivate a relationship of dependence with the United States primarily in order to guarantee the attainment of vital state interests both internally and externally.
