THE IMPACT OF INTERNATIONAL MONETARY FUNDS POLICIES ON THE NIGERIAN ECONOMY

The latter half of the 20th century saw a seismic shift in global economic thought. Neoliberalism, championing free markets, privatization, and minimal state intervention, gained traction, particularly within powerful international financial institutions like the International Monetary Fund (IMF).¹ These institutions became instrumental in propagating and implementing these policies, especially in developing countries grappling with economic vulnerabilities.² Nigeria, a nation endowed with vast human and natural resources yet plagued by persistent economic challenges, found itself at the crossroads of this global economic order, becoming a focal point for the IMF's interventionist approach.