IBEKU ECONOMIC INSTITUTIONS UP TO 1896

Abstract

This article studied Ibeku economic institutions up to 1896 with special interest on manufacturing, trade and marketing, transport and communication and institutions for capital formation. The article observed that Ibeku practiced self-sufficient economy with the production of craft products such as: blacksmith and pottery products. The article is of the view that short and long distance trade provided a platform where Ibeku traders, artisans and farmers marketed their agricultural and craft products. They also saved their earnings through institutions for capital formations. The article adopted historical method. Primary, secondary and tertiary sources like oral interviews, archival materials, journals, published and unpublished texts, were employed as means of data collection for the historical reconstruction of the article. The article concluded that Ibeku pre-colonial economy should be transformed and modernized to compete favorably with other communities in West Africa.