Impact of external debt-induced structural adjustment policies on salient aspects of the Nigerian economy
Nigeria as also most African countries have as yet nothing to show from receiving foreign aid and loans running into billions of dollars well over the past 40 years.The contention for an end to aids and loans to developing countries and Nigeria in particular especially holds from the immense harsh...
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Canadian Academy of Oriental and Occidental Culture
2016
|
| Subjects: | |
| Online Access: | https://repo.uum.edu.my/id/eprint/22129/1/CSS%2012%2012%202016%2042%2047.pdf |
| _version_ | 1825804689113874432 |
|---|---|
| author | Igwe, Stanley Chinedu Abdullah, Mohamad Ainuddin Iskandar Lee Sherko, Kirmanj |
| author_facet | Igwe, Stanley Chinedu Abdullah, Mohamad Ainuddin Iskandar Lee Sherko, Kirmanj |
| author_sort | Igwe, Stanley Chinedu |
| collection | UUM |
| description | Nigeria as also most African countries have as yet
nothing to show from receiving foreign aid and loans running into billions of dollars well over the past 40 years.The contention for an end to aids and loans to developing countries and Nigeria in particular especially holds from the immense harsh realities that have been endured by the masses of the people all through the decades external aids have subsisted.The paper carried
out a documentary survey of the impact of International Monetary Fund’s structural adjustment policies (SAP) on salient aspects of the Nigerian political ecology and found that IMF conditionalities are dubiously aimed at
maintaining continued resource transfer from debtor countries to creditor nations with adverse impact on the environment and cost of living of the civic population of debtor countries. The adversities brought about by the policies ultimately violate international conventions on
rights to life and well-being.The study therefore requests civil society groups, nongovernmental organisations and concerned international organisations to intervene and redefine the terms of engagement between debtor nations and their creditors with a view to redressing the disproportionate incidence of external debt and its conditionalities on the civic population of debtor nations especially those of Nigeria. |
| first_indexed | 2024-07-04T06:19:45Z |
| format | Article |
| id | uum-22129 |
| institution | Universiti Utara Malaysia |
| language | English |
| last_indexed | 2024-07-04T06:19:45Z |
| publishDate | 2016 |
| publisher | Canadian Academy of Oriental and Occidental Culture |
| record_format | eprints |
| spelling | uum-221292017-06-04T07:16:07Z https://repo.uum.edu.my/id/eprint/22129/ Impact of external debt-induced structural adjustment policies on salient aspects of the Nigerian economy Igwe, Stanley Chinedu Abdullah, Mohamad Ainuddin Iskandar Lee Sherko, Kirmanj HJ Public Finance Nigeria as also most African countries have as yet nothing to show from receiving foreign aid and loans running into billions of dollars well over the past 40 years.The contention for an end to aids and loans to developing countries and Nigeria in particular especially holds from the immense harsh realities that have been endured by the masses of the people all through the decades external aids have subsisted.The paper carried out a documentary survey of the impact of International Monetary Fund’s structural adjustment policies (SAP) on salient aspects of the Nigerian political ecology and found that IMF conditionalities are dubiously aimed at maintaining continued resource transfer from debtor countries to creditor nations with adverse impact on the environment and cost of living of the civic population of debtor countries. The adversities brought about by the policies ultimately violate international conventions on rights to life and well-being.The study therefore requests civil society groups, nongovernmental organisations and concerned international organisations to intervene and redefine the terms of engagement between debtor nations and their creditors with a view to redressing the disproportionate incidence of external debt and its conditionalities on the civic population of debtor nations especially those of Nigeria. Canadian Academy of Oriental and Occidental Culture 2016 Article PeerReviewed application/pdf en cc4_by https://repo.uum.edu.my/id/eprint/22129/1/CSS%2012%2012%202016%2042%2047.pdf Igwe, Stanley Chinedu and Abdullah, Mohamad Ainuddin Iskandar Lee and Sherko, Kirmanj (2016) Impact of external debt-induced structural adjustment policies on salient aspects of the Nigerian economy. Canadian Social Science, 12 (12). pp. 42-47. ISSN 1712-8056 http://www.cscanada.net/index.php/css/article/view/9026 |
| spellingShingle | HJ Public Finance Igwe, Stanley Chinedu Abdullah, Mohamad Ainuddin Iskandar Lee Sherko, Kirmanj Impact of external debt-induced structural adjustment policies on salient aspects of the Nigerian economy |
| title | Impact of external debt-induced structural adjustment policies on salient aspects of the Nigerian economy |
| title_full | Impact of external debt-induced structural adjustment policies on salient aspects of the Nigerian economy |
| title_fullStr | Impact of external debt-induced structural adjustment policies on salient aspects of the Nigerian economy |
| title_full_unstemmed | Impact of external debt-induced structural adjustment policies on salient aspects of the Nigerian economy |
| title_short | Impact of external debt-induced structural adjustment policies on salient aspects of the Nigerian economy |
| title_sort | impact of external debt induced structural adjustment policies on salient aspects of the nigerian economy |
| topic | HJ Public Finance |
| url | https://repo.uum.edu.my/id/eprint/22129/1/CSS%2012%2012%202016%2042%2047.pdf |
| work_keys_str_mv | AT igwestanleychinedu impactofexternaldebtinducedstructuraladjustmentpoliciesonsalientaspectsofthenigerianeconomy AT abdullahmohamadainuddiniskandarlee impactofexternaldebtinducedstructuraladjustmentpoliciesonsalientaspectsofthenigerianeconomy AT sherkokirmanj impactofexternaldebtinducedstructuraladjustmentpoliciesonsalientaspectsofthenigerianeconomy |