Abstract

From the 1980s, Nigeria’s economy has witnessed severe stagnation. While Eurocentric literature pinpoint the Nigerian civil war and her leaders’ corruptive tendency as the prima facie, Afrocentric literatures trace the country’s economic woes to her historical processes of colonial domination and economic exploitation. Nevertheless, none of the above arguments underpin more firmly as being the catalyst to the country’s economic dysfunction especially when compared to IMF policies in the country. This paper in part, demonstrates that IMF policies in Nigeria vis-a-vis its Structural Adjustment Program (SAP) through its Loan Conditionality is “the crux impediment facing the country.” As such, the paper argues that the acceptance of IMF loans during General Ibrahim Babangida’s among other misgovernance administration perpetuated the economic woes and fostered the backwardness of the country. Employing primary and secondary sources, the paper posits that a more inclusive economic system devoid of the current extractive economic policies would revitalize its fortunes.

摘要

1980年代以来，尼日利亚经济严重停滞。以欧洲为中心的文学将尼日利亚内战及其领导人的腐败倾向作为初步证据，而以非洲为中心的文学则将国家的经济困境追溯到其殖民统治和经济剥削的历史进程。尽管如此，上述论点都没有更坚定地成为该国经济功能障碍的催化剂，尤其是与该国的国际货币基金组织政策相比。本文部分表明，尼日利亚的 IMF 政策与其贷款条件的结构调整计划 (SAP) 相比是“该国面临的关键障碍”。因此，该文件认为，在易卜拉欣·巴班吉达将军和其他治理不善的政府期间接受国际货币基金组织的贷款使经济困境长期存在并助长了该国的落后。该论文利用主要和次要来源，假设一个没有当前采掘性经济政策的更具包容性的经济体系将重振其财富。