Abstract
Background of the Study:
At the inception of SAP it was clearly stated that " the objective of
Government is to evolve a realistic and sustainable market determined exchange
rate for the Naira, so as to reduce the demand for foreign exchange to available
supply and to reduce the pressure on the balance of payments" (CBN Annual
R'eport 1986, Obadan 1993~377) " --- The package of adjustment measures
adopted from 1986 placed a heavy burden on monetary policy for containing
domestic and external sector instability " (Akatu 1993 : 321 ) .
The above x-rays some of the major projections shared by governments
and people of many Sub- Saharan African countries on the prospects of the
IMFNVorld Bank initiated structural adjustment programme introduced in the
1980s. The objectives of SAP include inter aha:
I Strengthening the Balance of payments position.
2. Reduction in domestic financial imbalances, including less government
deficit financing.
3. Elimination of price distortions in various sectors of the economy.
4. Promotion of domestic savings in public and private sectors.
5. Increasing trade liberalization.
6. Revival of orderly relationships with trading partners and creditors.
7. Mobilization of additional external resources. (Tarp 1993: 2). Exchange
rate and Money supply were instruments judged important in the
reallsation of the above objectives of SAP
U., O (2021). Structural Adjustment in Nigeria and Ghana: A Relative Efficiency Analysis. Afribary. Retrieved from https://tracking.afribary.com/works/structural-adjustment-in-nigeria-and-ghana-a-relative-efficiency-analysis
U., OGBUAKANNE "Structural Adjustment in Nigeria and Ghana: A Relative Efficiency Analysis" Afribary. Afribary, 13 May. 2021, https://tracking.afribary.com/works/structural-adjustment-in-nigeria-and-ghana-a-relative-efficiency-analysis. Accessed 23 Nov. 2024.
U., OGBUAKANNE . "Structural Adjustment in Nigeria and Ghana: A Relative Efficiency Analysis". Afribary, Afribary, 13 May. 2021. Web. 23 Nov. 2024. < https://tracking.afribary.com/works/structural-adjustment-in-nigeria-and-ghana-a-relative-efficiency-analysis >.
U., OGBUAKANNE . "Structural Adjustment in Nigeria and Ghana: A Relative Efficiency Analysis" Afribary (2021). Accessed November 23, 2024. https://tracking.afribary.com/works/structural-adjustment-in-nigeria-and-ghana-a-relative-efficiency-analysis