## Nigeria: Experience with Structural Adjustment

_Occasional Papers, April 4, 1997_

## Source details

**Canonical URL:** [Nigeria: Experience with Structural Adjustment](https://www.imf.org/en/publications/occasional-papers/issues/2016/12/30/nigeria-experience-with-structural-adjustment-2157)

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## Bibliographic details
- Published: April 4, 1997
- Series: Occasional Papers
- DOI: https://doi.org/10.5089/9781557756305.084

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### Summary and principal conclusion
- Over the past two decades, Nigeria has not reaped fully the benefits of its national wealth despite its efforts at structural adjustment.
- The paper concludes that the facts do not justify the negative image that structural adjustment has had in Nigeria.
- Vigorous market reforms and tight financial policies had resulted in economic growth and employment expansion, but they were abandoned too soon to have sustained benefits.

### Findings and policy-relevant observations
- Vigorous market reforms and tight financial policies were associated with:
  - Economic growth.
  - Employment expansion.
- The premature abandonment of those reforms interrupted the realization of sustained benefits.
- The paper characterizes the prevailing public perception of structural adjustment in Nigeria as negative but finds that the empirical facts do not support that negative image.

### Subject coverage and keywords
- Subject: Agricultural commodities, Commodities, Demand for money, Exchange rates, Expenditure, Exports, Foreign exchange, Inflation, International trade, Prices, Public investment spending
- Keywords: Agricultural commodities, demand equation, economy, Exchange rates, expansionary fiscal policy stance, Exports, Inflation, oil economy, OP, Public investment spending, reform effort, savings-investment balance, Sub-Saharan Africa, U.S. dollar, West Africa

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_Source: https://www.imf.org/en/publications/occasional-papers/issues/2016/12/30/nigeria-experience-with-structural-adjustment-2157_