Which military regime in Nigeria initiated a program known as “Structural Adjustment Program” (SAP) in collaboration with international financial…

JAMB Government 2024 150 views
Source: JAMB · 2024

Which military regime in Nigeria initiated a program known as “Structural Adjustment Program” (SAP) in collaboration with international financial institutions?

  1. General Muhammadu Buhari
  2. General Sani Abacha
  3. General Ibrahim Babangida ✓
  4. General Yakubu Gowon
Explanation

Babangida introduced SAP in 1986 with IMF and World Bank support. It was meant to reform Nigeria’s economy.

SAP removed subsidies, devalued the naira, and privatized government companies.

Many Nigerians suffered from higher prices, but some economic reforms were achieved.

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