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Periodical article | Leiden University catalogue | WorldCat |
Title: | The structural adjustment programme in Nigeria: a recipe for socialising the political process in the Third Republic |
Author: | Ate, Bassey E. |
Year: | 1992 |
Periodical: | Nigerian Journal of International Affairs |
Volume: | 18 |
Issue: | 2 |
Pages: | 105-112 |
Language: | English |
Geographic term: | Nigeria |
Subjects: | political economy economic policy |
Abstract: | Launched in 1986, Nigeria's structural adjustment programme (SAP) aims to liberalize the Nigerian economy, amongst others through the privatization of State enterprises. But privatization of State enterprises, by decentralizing the enormous economic authority monopolized by the State at the national and state levels, redistributing political power nationally, and realigning political interests along social and class, rather than regional-ethnic and religious lines, also contains the kernel for liberalizing the Nigerian political process and turning it into an open competitive system. Since real economic power predominantly lies with the South, privatization, if carried out to its logical limit (as envisioned by the IMF and the World Bank), will dislodge the North from its position of political hegemony in the Nigerian political arena. In recognition of its explosive political potential, the Babangida regime has deliberately incorporated the privatization exercise in its political transition agenda. Concern that the North may lose a substantial base of political authority also informs the machinery of implementation of the privatization guidelines. Such measures notwithstanding, the reality of privatization in Nigeria so far is that only those Nigerians with access to private capital - mainly residents of the southern states - have been able to acquire a majority of the privatized company shares. Note, ref. |