This study is an analysis of the origin and the establishment of Port Harcourt, how the land was acquired and how a small Port Harcourt settlement developed into a flourishing urban centre. The process by which this transformation took place was analysed, using the theoretical framework of some relevant theories of development and growth models enunciated by different scholars, whose studies were also reviewed. We made a critique of underdevelopment and growth paradigms; and also the problems

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... encountered in the course of this study. Our findings revealed that companies were either colonially created or that its operations or activities were dependent on the advanced countries with its main links for inputs, markets, management, finance and technology. The study concludes that the positive forces of development were favourable to Port Harcourt and today the city is "the goose that lays the golden egg for Nigeria" and it is popularly known as the "Treasure base of Nigeria", with Nigeria's discovery of oil and gas in 1956.