By: Tehetina Shewakena

NORTHSOUTH  (15th ) Hausa people came under the influence of Islam.  ( 18th ) The Fulani took over and established the Sokoto Caliphate.  Controlled most of the North  Introduced trade with the Europeans  (16th ) Coastal groups began exchanging captives and prisoners for goods with the European trading ships  Wars among various kingdoms sustained trade  20,000 slaves

 ( 1807): British parliament outlawed slave trade - British established themselves on the coast - Intervene in local politics  1866 The Royal Niger Company was granted royal charter to control Nigerian trade  On January 1, 1914: Nigeria was unified under one colonial administration

 Nigerian system developed into a sophisticated form of government - Central/ Local Gov.  - New forms of money, transportation, and communication  1886: The United Africa Company was granted charter - Oversee Commerce - Collect taxes  A system of cash economy developed  Nigeria remained an agricultural country, exporting raw materials to Britain and importing from it finished goods

 Oct. 1, 1960  Establish Federal system - System is questioned  Established First Republic ( )  Ended in violent military coup

 Since independence Nigeria has had: - 9 constitutions - 4 republics - 7 Military Coups  Hinders Democracy  Increase in Corruption

YearRulerType of gov.Reason for Transition Tafawa BalewaRepublicCoup 1966Johnson Aguyi- Ironsi Military dictatorshipMilitary coup Yakubu GowoMilitary dict.Military coup Murtala Muhammed Military dict.Military Coup Olusegun ObasanjoMilitary Dict.Replaced by democratically elected pres Shehu ShagariPresidential democracy Military coup Muhammed BuhariMilitary Dict.Military Coup Ibrahim BabangidaMilitary Dict.Military Coup Sani AbachaMilitary Dict.Death Olusegun Obasanjo Presidential Dem.Two term presidency 2007-presentUmaru Yar’ AduaPresidential Dem.

 (1970) Price of oil increased - Nigerian export grew - Increase in revenue - Investment in industrial dev.  ( 1971) Joined OPEC and formed the Nigerian National Oil Corporation (NNOC)  By 1973, oil revenue represented almost 90% of foreign exchange earning and 85% of total exports  Import food  1980) Price of oil plummeted - Inflation -debt owed to World Bank

 1970’s :Fiscal indiscipline - Nigeria government borrowed from foreign banks - Price of oil fell  : Buhari regime approach IMF for relief -IMF put conditions -Maintained the exchange rate  1985: Babangida created Structural Adjustment Program (SAP) - Failed  1997 : Experienced Fuel shortage - Black market - 80 Niara per liter  By 2004: Nigeria debt totaled US$ billion

 Oct 2000: Debt Management Office was established - Nigeria was considered for debt relief Paris Club : (2005)  Nigeria and the Paris Club agreed on a US$18 billion or 60 percent write-off -Debt decreased - Credit worthy country Neo Liberalism: a political orientation started in the 1960s; blends liberal political views with an emphasis on economic growth

 Gini Index: 42.9  GDP growth rate : 7.2% in 2011 Trend toward privatization CIA World Fact book

SETBACKS POTENTIAL FOR DEVELOPMENT - Corruption - Gov. controlled economy - lack of initiative for private sector -unequal distribution of wealth  Availability of resource  Democratization  Maintain successful programs  Considered a regional power