THE ROLE OF INTERNATIONAL MONETARY FUND IN ECONOMIC RECOVERY PROGRAMMES IN NIGERIA: THE CASE OFPRIVATIZATION, 1999 – 2006
THE ROLE OF INTERNATIONAL MONETARY FUND IN ECONOMIC RECOVERY PROGRAMMES IN NIGERIA: THE CASE OFPRIVATIZATION, 1999 – 2006
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Date
2008-06
Authors
KATARI, mazawaje sani
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Abstract
This study, “The Role of International Monetary Fund in Economic Recovery
Programmes in Nigeria: The Case of Privatization, 1999 – 2006”, examines the
problems of economic development in Nigeria, vis-à-vis the economic recovery
strategies prescribed by the International MonetaryFund (I.M.F.). The study
focuses attention on Nigeria, drawing references and inferences from similar third
world countries only for the purposes of expatriation. The study was prompted by
the too much emphasis on the I.M.F. economic recovery policies especially
privatization commenced in earnest and the tempo had been on the increase and
heightened during the Obasanjo administration (1999 – 2006). The study’s aim was
to actually investigate the efficiency or relevance of the economic recovery policies.
The study also had the aim of making recommendations as alternative approach to
the resolution of Nigeria’s economic problems. The problematic is the issue of
economic underdevelopment that has persisted in spite of the feverish
implementation of the economic recovery policies as prescribed by the I.M.F. The
methodology adopted is the interview process with cross sections of the enlightened
segments of the society and the dramatic personae in the whole process of
implementation of the I.M.F. policies especially privatization. Content analysis was
also used. The theoretical framework adopted was the underdevelopment and
dependency theory (UDT), a derivative of the structuralist Marxist framework of
analysis. The study found out that contrary to the claims that I.M.F. policies and
privatization in particular would stimulate performance of the critical sectors of the
economy and promote overall economic development, the reverse is the case. Most
of the privatized enterprises have collapsed while the general economic situation in
Nigeria and living standard of Nigerians has been on the decline. Corruption,
infrastructure decay, unemployment, poverty, crime and general decline of the
nation’s development index have been the consequences of these exogenous
economic policies in Nigeria and in the other similar third world countries. The
study therefore dismisses the privatization exercise adopted by the Obasanjo
administration and other I.M.F. economic reform policies as a rip off of the
Nigerian people and other such countries. The study also found out that the
economic crises even worsened with the introduction of the I.M.F. policies instead
of solving the crisis. The research concluded with recommendations of a homegrown
strategy for the resolution of the economic problems and general socioeconomic
backwardness in the country.
Description
A DISSERTATION SUBMITTED TO THE POSTGRADUATE
SCHOOL, AHMADU BELLO UNIVERSITY, ZARIA,
IN PARTIAL FULFILLMENT OF THE REQUIREMENT
FOR THE AWARD OF DOCTOR OF PHILOSOPHY DEGREE
(Ph.D) IN POLITICAL SCIENCE.
DEPARTMENT OF POLITICAL SCIENCE;
AHMADU BELLO UNIVERSITY,
ZARIA
JUNE, 2008
Keywords
ROLE, INTERNATIONAL MONETARY FUND,, ECONOMIC RECOVERY PROGRAMMES,, NIGERIA,, PRIVATIZATION,