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Adjustment with growth: Nigerian experience with structural adjustment policy reform

Abstract The paper presents an account of the origin, contents and apparent impact of the Nigerian structural adjustment programme of 1986–90. The programme arose from pressure by Nigeria's external creditors to reach an accommodation with the Bank and the Fund, but once the decision to undertake such a programme had been taken it became largely ‘home‐grown’ and contains a number of heterodox elements, including a ban on imported foodstuffs. Other major elements are a shift to a market‐determined exchange rate, the winding‐up of the six government commodity marketing boards and the gradual eli…

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