There’s a Lot More to Learn From ‘IBB’s SAP’ Than Meets The Eye.

Most of us, including those too young to have lived a single day through it, associate the Structural Adjustment Program (SAP) of the 1980s with the darkest period in Nigeria’s economic history. The popular narrative generally considers SAP to have both caused the problems and failed to fix them, laying the blame squarely at IBB’s feet.

It’s not quite that simple.

SAP reforms were introduced in mid-1986 as a precondition for Nigeria’s borrowing from the World Bank/IMF. We didn’t have much choice.

So what lessons did we learn/should we have learnt from our economic history in the 1980s?

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Let’s Talk About SAP, Baby.

What do you remember when you think of SAP?

I remember hearing the word ‘austerity’ a lot as a child. It was always a strange word for a couple of reasons. While I didn’t know the dictionary definition, I knew that it connoted hardship (and nobody likes the thought of that). Also, my father’s name is Austin, so whenever someone said ‘austerity’, I would think of him. I still do.

The subconscious mind is a fascinating thing really. 

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