Which economic stabilization framework was introduced by General Ibrahim Babangida's regime in 1986 following the rejection of an IMF loan?
Answer and explanation
Correct answer: B. the Structural Adjustment Programme
- Step 1: After a national debate in late 1985 rejected an IMF loan conditionalities package, the Babangida administration implemented its own homegrown reform package in July 1986. Step 2. The Structural Adjustment Programme (SAP) introduced currency deregulation (SFEM), trade liberalization, and privatization of state-owned enterprises. Answer: the Structural Adjustment Programme. Why not the others: NEEDS was Obasanjo's 2004 reform strategy; ERGP was launched by Buhari in 2017; Indigenisation decrees were passed in 1972 and 1977.
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