Scam Hall of Fame Ep 4: Structural Adjustment Programs

After years of beating around the bush, we bring you our latest Scam Hall of Fame episode focused on the infamous Structural Adjustment Programs (SAPs). In the episode we argue that the SAPS were one of the central — if not the defining— scam(s) of the post-colonial period. To do this, we spend some time defining SAPs; talking through the rabbit and hat process by which SAPs were formally implemented under the IBB junta; and exploring the legacy of SAPS in contemporary Nigeria. The episode covers Nigeria's early ventures into austerity from the Gowon and Obasanjo military regimes, to the era of neoliberal puberty in the Babangida regime and down to its full blown adulthood in these Tinubu times.

We also deal with some contradictory aspects of Nigeria’s liberalization journey. If Nigeria truly neo-liberalised then why is it still a difficult environment for business? Were there valid reasons for the Structural Adjustment Programs? Is there any positive effect of the SAP in Nigeria?

Listen and let us know how SAPs compare to the other great scams of Nigerian history.