Sunday, August 14, 2022
MARKET UPDATE
Advertisement

TheCable

IBB’s SAP killed the naira, says Buhari

IBB’s SAP killed the naira, says Buhari
February 05
12:13 2016

President Muhammadu Buhari on Friday said the Structural Adjustment Programme (SAP) killed the naira.

Ibrahim Babangida, former military president, instituted SAP between 1986 and 1988.

However, during an interactive session with BBC, Buhari traced the origin of the problem facing the Nigerian currency to the administration that succeeded his in the military era.

Below are excerpts of the interview tweeted by Sam Piranty, a BBC journalist:

Advertisement

Structural adjustment programmes (SAPs) consist of loans provided by the International Monetary Fund (IMF) and the World Bank (WB) to countries that experienced economic crises.

Structural Adjustment Programmes (SAPs) typically consist of loans provided by the International Monetary Fund (IMF) and the World Bank to countries experiencing economic crisis, but the conditionality clauses attached to the loans have been severely criticiaed because of their effects on the social sector.

Advertisement

2 Comments

  1. emkel
    emkel February 05, 12:58

    @buhari,what does 1986 has to do 2016

    Reply to this comment
  2. Efe
    Efe February 05, 13:13

    This old man blames everyone but himself. SMH

    Reply to this comment

Write a Comment