Article from ROAPE Volume 15 Number 43
WB in Rural Nigeria Revisited: Agric Sector Review 1987
The WB's policy recommendations have come under extensive and often critical scrutiny in Nigeria, as elsewhere, since the military government adopted the main tenets of the World Bank's SAP (Structural Adjustment Programme). SAP has had a major impact on agriculture, notably as a result of the substantial devaluation of the naira through the creation of the FEM (Foreign Exchange Market) and the abolition of the CMBs (Commodity Marketing Boards). These long overdue reforms have sharply raised prices for export crops in naira and improved the competitiveness of crops grown in Nigeria as against imports. Less attention has been paid to the World Bank's Policies for agriculture, despite the extensive involvement of the Bank, through the projects it has funded.