INDIGENOUS AGRARIAN INSTITUTIONS FOR CAPITAL FORMATIONS AMONG THE IBIBIO PEOPLE, 1900-2000

Abstract

The role and significant of indigenous capital formations among the Ibibio people cannot be overemphasized. This is because among the Ibibio people, indigenous capital formations played significant roles in raising capital for the major economic and other undertakings of the people such as land acquisition, debts repayments, education of young people, and marrying wives. Using descriptive and analytical methods, as well as a combination of both primary and secondary sources, this work identified the various indigenous agrarian institutions for capital formations.The findings of this work shows that among the Ibibio people within the periods studied, the indigenous agrarian institutions were veritable means of addressing the economic, social and political challenges of the people. They were able to defray debts, attend to their domestic needs, take titles, among others.