Racial Economics in the context of Nigeria

Wikipedia defines race as a categorization of humans based on shared physical or social qualities into groups generally viewed as distinct within a given society. It is generally believed by many that every black African is Negro, but that is not the case. Africans have different forms and natures; with the Negroes dominating a large section of western and central Africa, the Hamites occupying mostly Northern and Eastern Africa, the pygmies of Central Africa and the Bantus of Southern Africa, Africa is truly diverse in its uniqueness and although some of these terms might be outdated or deemed offensive in today’s world, it’s important to highlight these differences. 

Unfortunately, I won’t be speaking about Africa today. My focus for this article is on Nigeria. But before diving into the discussion, you might want to ask yourself, what is racial economics? I couldn’t find any definitions online, so I will come up with one myself. 

Racial economics Is the science which examines the pattern through which people with distinctive physical attributes, social qualities and characteristics benefit from underlying economic structures or policies. These policies could either be intentionally orchestrated by a certain group or genetically (unconsciously) formulated based on attributes specific to a given group of people. 

Dismantling this in the Nigerian context will require me to use the term 'ethnic' instead of the race due to the almost 80% negro population, although there are traces of differences in the physical attributes of the undiluted Fulani and Shuwa Arabs from northern Nigeria which from their appearance, you can tell that they do not necessarily meet the Negro classification. You might be wondering, what is the economics there in ethnicity? The economics of ethnicity is the reason the Igbos of Nigeria are so creative and innovative in doing business. It is also the reason you will find most Yoruba’s dominating the field of Academics and Finance, and the reason, why you will find the Hausa’s dominating in the political atmosphere. Understanding racial economics could help Nigeria diagnose and solve the economic and poverty problems spread across the regions, it could also serve as a platform to understudy the success of each unique group which can then be reapplied in ensuring equality and equity. Have you ever wondered why the slave trade flourished in the southern parts of Nigeria and not the north? 

You might want to argue that it’s because the south is closer to the ocean, but if your hypothesis is true then how did the colonial masters comfortably move farm produce (Cotton, groundnut, etc.) from the north to the south and then through the ocean? Have you ever thought about how the Igbo’s bounced back from the Biafran war that claimed millions of lives, do you ever wonder why the undiluted Fulani still wander with their cows despite economic advancement and technological growth? All these miracles are made possible through differences in traits and characteristics which empowers each group with unique abilities for survival 

Why are the answers to these questions important? In order to tackle the wide gap of inequality, frequent protests and violence in the black and Hispanic-dominated environment, economists in America deemed it fit to study how intergenerational mobility and income disparity between different races affect their livelihood and limit their potential for growth and development. The results of these studies have been used to draft and modify policies aimed at fostering inclusiveness among all Americans. British economist Lionel Robinson defines Economics as the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses. From this definition, we can deduce that economics and human behaviour are not mutually exclusive, thereby policies and initiatives created by the government and concerned agencies need to incorporate the differences in human behaviour, and the understanding of human behaviour cannot practically be studied from an individual perspective hence the need for racial or ethnic economics.