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THE ECONOMIC RECOVERY OF NDIGBO AS NARRATED BY MY FATHER.
This is a thread of the amazing economic and financial recovery of Ndigbo in the years following the Biafran civil war as Narrated by my Father in his own words.
This is a thread of the amazing economic and financial recovery of Ndigbo in the years following the Biafran civil war as Narrated by my Father in his own words.
#2
Ndigbo were not just decimated by weapons of warfare but also by the some of the economic policies that were implemented during the course of the war. More people died from hunger than from bullets.
Ndigbo were not just decimated by weapons of warfare but also by the some of the economic policies that were implemented during the course of the war. More people died from hunger than from bullets.
#3
After the war ended on January 19th, 1970, there was still some fear as people were not yet certain if the killing had ended. But people gradually began to return to their home towns especially those who were not displaced by the fighting.
After the war ended on January 19th, 1970, there was still some fear as people were not yet certain if the killing had ended. But people gradually began to return to their home towns especially those who were not displaced by the fighting.
#4
Luckily for us, our hometown Oraukwu wasn’t affected much by the fighting. So we returned home. I remember us going to Abagana and on the way we met some Hausa folks at Eziowerre. The Hausa folks were full of excitement and greeting everyone and everyone greeted them in return
Luckily for us, our hometown Oraukwu wasn’t affected much by the fighting. So we returned home. I remember us going to Abagana and on the way we met some Hausa folks at Eziowerre. The Hausa folks were full of excitement and greeting everyone and everyone greeted them in return
#5
I guess they were happy that the war was finally over.
Nigerian troops also had big cookouts to celebrate the end of the conflict. They cooked big drums of soup and the gave to everyone around. But the nightmare of the war was still far from over for Ndigbo.
I guess they were happy that the war was finally over.
Nigerian troops also had big cookouts to celebrate the end of the conflict. They cooked big drums of soup and the gave to everyone around. But the nightmare of the war was still far from over for Ndigbo.
#6
At the start of the war, Nigeria had issued new currency notes, rendering the ones that Ndigbo had useless. So, the then Biafran government began to issue Biafran pounds. For a short while, after the war ended, people still traded with Biafran pounds
At the start of the war, Nigeria had issued new currency notes, rendering the ones that Ndigbo had useless. So, the then Biafran government began to issue Biafran pounds. For a short while, after the war ended, people still traded with Biafran pounds
#7
until we were told to go exchange our Biafran currencies for Nigerian currency. This was when the infamous 20 pounds policy came into play. It didn't matter how many Biafran pounds you brought or how much you had in a Nigerian bank before the war began you got 20 pounds.
until we were told to go exchange our Biafran currencies for Nigerian currency. This was when the infamous 20 pounds policy came into play. It didn't matter how many Biafran pounds you brought or how much you had in a Nigerian bank before the war began you got 20 pounds.
#8
I had a first-hand experience of this because I had to queue up to change money for my family. The poorer and less exposed people who weren’t used to banking gave their monies to the other more exposed people to help with the process.
I had a first-hand experience of this because I had to queue up to change money for my family. The poorer and less exposed people who weren’t used to banking gave their monies to the other more exposed people to help with the process.
#9
So, you would see people on queue with bags of Biafran pounds. But no matter how many bags of Biafran money you brought, you got 20 pounds. So, if you sent someone to swap money on your behalf you ended up having to share 20 pounds with that person.
So, you would see people on queue with bags of Biafran pounds. But no matter how many bags of Biafran money you brought, you got 20 pounds. So, if you sent someone to swap money on your behalf you ended up having to share 20 pounds with that person.
#10
Some even got nothing. Around this time was when the indigenization decree was issued. The indigenization decree mandated all foreign companies to sell 60% of their shares to Nigerians. This was a transforming moment for a lot of Yoruba people.
Some even got nothing. Around this time was when the indigenization decree was issued. The indigenization decree mandated all foreign companies to sell 60% of their shares to Nigerians. This was a transforming moment for a lot of Yoruba people.
#11
Northerners didn’t really key into it. Probably because they were happy to control the government and military. But the Yoruba people took full advantage. They were given loans by banks and the shares they bought served as the collateral.
Northerners didn’t really key into it. Probably because they were happy to control the government and military. But the Yoruba people took full advantage. They were given loans by banks and the shares they bought served as the collateral.
#12
So, someone who had nothing, all of a sudden owned shares in a multinational corporation. A lot of them became overnight millionaires. The Igbos on the other hand had nothing. So, the indigenization decree served us no purpose. It was a really desperate time in Alaigbo.
So, someone who had nothing, all of a sudden owned shares in a multinational corporation. A lot of them became overnight millionaires. The Igbos on the other hand had nothing. So, the indigenization decree served us no purpose. It was a really desperate time in Alaigbo.
#13
The shop where my father sold nails and roofing sheets burned down during the war, regardless, people still rushed to buy the partially burnt nails & roofing sheets to rebuild their homes. During that time, we would go to Awka to buy beans and come back to resell at Otuocha.
The shop where my father sold nails and roofing sheets burned down during the war, regardless, people still rushed to buy the partially burnt nails & roofing sheets to rebuild their homes. During that time, we would go to Awka to buy beans and come back to resell at Otuocha.
#14
Everyone did what they had to do to survive. Most of the kiosks were owned by Hausa people but with time, Igbos also began to open kiosks. The Hausas at the time sold their provisions at fixed prices but the Igbos being in a more dire need of money, sold at lesser prices
Everyone did what they had to do to survive. Most of the kiosks were owned by Hausa people but with time, Igbos also began to open kiosks. The Hausas at the time sold their provisions at fixed prices but the Igbos being in a more dire need of money, sold at lesser prices
#15
with lesser profits, but made a faster turnover. So eventually, Igbos took over the kiosks. Another wicked policy that was implemented was that Nigerian troops who were stationed in Alaigbo were paid a portion of their salaries in the east and the rest paid to their home base
with lesser profits, but made a faster turnover. So eventually, Igbos took over the kiosks. Another wicked policy that was implemented was that Nigerian troops who were stationed in Alaigbo were paid a portion of their salaries in the east and the rest paid to their home base
#16
This reduced the amount of cash that troops had at hand and hence reduced the amount of money that Nigerian troops could spend in Alaigbo. One of the major sources of cash influx to Alaigbo at that time was the Nigerian troops who were stationed there.
This reduced the amount of cash that troops had at hand and hence reduced the amount of money that Nigerian troops could spend in Alaigbo. One of the major sources of cash influx to Alaigbo at that time was the Nigerian troops who were stationed there.
#17
However, Igbos kept pushing. You really can’t stop someone who has refused to be stopped. Igbo people who were into business before the war found ways to connect with old contacts, suppliers, and customers.
However, Igbos kept pushing. You really can’t stop someone who has refused to be stopped. Igbo people who were into business before the war found ways to connect with old contacts, suppliers, and customers.
#18
Some were able to get goods on trust from their old suppliers whom they had a good relationship with and would sell, make returns, and get more goods. Others pooled resources together and would go and buy goods in the quantity they could afford
Some were able to get goods on trust from their old suppliers whom they had a good relationship with and would sell, make returns, and get more goods. Others pooled resources together and would go and buy goods in the quantity they could afford
#19
and would come back, sell, make a turnover, and go to buy more goods. At that time, most of the Industries often demanded deposit before giving you goods even on trust. So Igbos would come together, pool resources, and go and pay cash for the goods.
and would come back, sell, make a turnover, and go to buy more goods. At that time, most of the Industries often demanded deposit before giving you goods even on trust. So Igbos would come together, pool resources, and go and pay cash for the goods.
#20
One of the reasons why there are so many Igbos into trade stems from the aftermath of the war. A lot of people couldn't afford school, for others, survival took priority over education.
One of the reasons why there are so many Igbos into trade stems from the aftermath of the war. A lot of people couldn't afford school, for others, survival took priority over education.
#21
Some Igbos, especially Nnewi people began moving to Lagos. Many local industries had started shutting down one by one. This was when some Igbos began going into importation. Sometimes, as many as 20 individuals would come together to bring in one container.
Some Igbos, especially Nnewi people began moving to Lagos. Many local industries had started shutting down one by one. This was when some Igbos began going into importation. Sometimes, as many as 20 individuals would come together to bring in one container.
#22
When the container arrived, the goods were shared according to each other's contributions. After some time, it would be 15 or 10 people. Eventually, they grew till people were able to import one container single-handedly.
When the container arrived, the goods were shared according to each other's contributions. After some time, it would be 15 or 10 people. Eventually, they grew till people were able to import one container single-handedly.
#23
People from our town, Oraukwu, also began to move down to Lagos. We had a man, Mr. Patrick Akanaegbu, in Surulere who was one of the first people from our town to move to Lagos. He was the first contact of most of our townspeople that moved to Lagos.
People from our town, Oraukwu, also began to move down to Lagos. We had a man, Mr. Patrick Akanaegbu, in Surulere who was one of the first people from our town to move to Lagos. He was the first contact of most of our townspeople that moved to Lagos.
#24
He would provide you with a place to sleep and also help you keep your money so you won’t get robbed. That’s why until recently, so many Oraukwu people were concentrated in Surulere. There is even an Oraukwu town hall in Surulere.
He would provide you with a place to sleep and also help you keep your money so you won’t get robbed. That’s why until recently, so many Oraukwu people were concentrated in Surulere. There is even an Oraukwu town hall in Surulere.
#25
Our townspeople who made it in business in turn trained other younger boys for 5 to 7 years then settled them and set them up. You see, when people say Ndigbo are disunited, that statement is highly erroneous.
Our townspeople who made it in business in turn trained other younger boys for 5 to 7 years then settled them and set them up. You see, when people say Ndigbo are disunited, that statement is highly erroneous.
#26
The Igbos would never have recovered if not for the Unity and solidarity we displayed in the years after the war. Igbos were able to come up with so many support systems that helped to rebuild the pride, integrity, and financial capacity of Ndigbo.
The Igbos would never have recovered if not for the Unity and solidarity we displayed in the years after the war. Igbos were able to come up with so many support systems that helped to rebuild the pride, integrity, and financial capacity of Ndigbo.
#27
You see, the reason why Igbos prosper is not just because of our business acumen or industrious spirit. Ndigbo have one of the strongest communal spirit of any tribe. From the Umunna (kindred), to the Otuogbo (age-grade), to the Umuada.
You see, the reason why Igbos prosper is not just because of our business acumen or industrious spirit. Ndigbo have one of the strongest communal spirit of any tribe. From the Umunna (kindred), to the Otuogbo (age-grade), to the Umuada.
#28
There so many things that bind the Igbos together. Our family bond is very strong and extends as far as the extended family and distant relatives. The average Igbo man is as connected to his mother’s side of the family as he is to his father’s side of the family.
There so many things that bind the Igbos together. Our family bond is very strong and extends as far as the extended family and distant relatives. The average Igbo man is as connected to his mother’s side of the family as he is to his father’s side of the family.
#29
This allows family bonds to stretch for generations. This sense of community is one of the reasons why Igbos are able to go to a foreign land and prosper there.
This allows family bonds to stretch for generations. This sense of community is one of the reasons why Igbos are able to go to a foreign land and prosper there.
#30
I dare say that Igbos were able to recover so rapidly after the war because Igbos practically looked after each other and built each other up after the war.
I dare say that Igbos were able to recover so rapidly after the war because Igbos practically looked after each other and built each other up after the war.
