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Showing posts with label IMF pressure. Show all posts
Showing posts with label IMF pressure. Show all posts

Saturday, 23 April 2016

Devaluation: Naira-dollar exchange rate circa from 1984 to 1993 (roughly)

In 1984 the Naira-dollar exchange rate was 2:1 at the end of Shagari;

In 1985 it was 4 or 5:1 (under IMF pressure). Buhari overthrown in August 1985

By the time IBB left (1993) it was 80:1 (under SAP et al).


During Abacha's regime (1993 - 1998) it was circa 85:1. The dynamics of Abdulsalami, Obasanjo (2), UMYA, and GEJ can be tracked carefully as well and context placed in evaluating Buhari (2) since 2015.

Meanwhile the slide continues...., accelerating wildly as international Oil prices have dropped post GEJ - for multiple micro and macro reasons, including infrastructure collapse, criminality, etc...National development plans to position Nigeria for the future have been systematically underperforming since 1975....