Labour and Labour Crisis in Nigerian: The Implication of the Structural Adjustment Programme

This Paper Labour and Labour Crises in Nigeria: The implication of structural adjustment programme, its aims at analyzing the effects of the structural adjustment programme (SAP) on the Labour and Labour crises in Nigeria. Through the economic policy programme, which among other objectives of the programmes includes, the privatization of public investment, retrenchment of Staffs, devaluation of the naira, deregulation of interest rates, reduction on government expenditure and Labour market adjustment. This paper also examine the Nigerian economy before the introduction of the Structural adjustment programme (SAP) which also give an insight about the Nigerian drawing rights from 1970 where the 90 percent of the nation foreign exchange earnings and more than 80 percent of the country’s population (53 million) were gaily employed by the agricultural sector. However, with discovery of Oil in the 70s Agricultural contribution to GDP started to decline from about 40 percent, GDP in the early 1970s to 20 percentage in the early 1980s. This decline resulted into untold sequences such as increased dependence on food imports. Now the government source of income solidly depend on Oil with 90 percent of the country exports earnings. As such revenue fell from $27.4 billion in 1950 to $ 11.1 billion in 1982. In the same vein, external reserve dropped from $757 billion to $5.5 billion. These effects resulted into external debt and massive borrowing. In order to find a solution to the problems the government decided to adopt the Structural adjustment programme so that it will dealth with the economic problems as at that time. This als