Nigerian Elite and the Culture of Primitive Accumulation

Stanley Edebiri Egharevba; Friday Osaru Ovenseri-Ogbomo

doi:10.46281/aesr.v4i1.211

Stanley Edebiri Egharevba Doctoral Student,Department of Political Science, University of Benin, Benin City,Nigeria
Friday Osaru Ovenseri-Ogbomo Senior Lecturer, Economics, Banking & Finance Department, Benson Idahosa University, Benin City, Nigeria

DOI: https://doi.org/10.46281/aesr.v4i1.211

Keywords: Elite, Primitive Capitalist, Rent-entrepreneur, Multilateral Imperialism.

Abstract

Nigeria is endowed with vast human and material resources to engender development but it still continues to luxuriate within the confines of a top speed in reverse to oblivion. As its relics, neocolonialism has given birth to industrialization, urbanization and militarization of the political process which generally has created “sudden billionaires” on one end of the ladder (elected or appointed public officials) and extremely poor masses (unemployed graduates and depressed masses) at the other end of the ladder. This paper basically exposes the developmental retrogressive outlooks of the masses due to primitive capitalist accumulation by the few elites who have piloted the affairs of the nation.

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