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Why Buhari - Politics - Nairaland

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Why Buhari by kunlekunle: 9:38am On Apr 22, 2012
this is an excerpt from an article during his regime.
The same devil raised his head againg, this is a major reason Why you should advocate for change.


The worsening economic and financial conditions led to a military coup on 31
December 1983. The new regime under General Buhari sought to reinforce
the 1982
austerity measures by further tightening financial policies and introducing
more
administrative controls. The government also implemented the counter trade
policy in the
light of the economic circumstances that existed then. This was aimed at
reviving the
crumbling economy through the provision of raw materials that were needed
in industries,
stopping further closure of industries, assisti ng in reducing the
unemployment problems and,
perhaps, minimising the spiralling inflation..
The Government’s austerity measures achieved some success by 1985;
inflation fell
to a single digit, the external current account moved from deficit to
balanced positions, and
real GDP growth jumped to 9½ per cent. The substantial growth in real
GDP was due
principally to an increase in oil production arising from the upward
adjustment in OPEC
quotas and to the recovery of the agricultural sector from a two-year
drought.

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