ISSN 2736-1721
Global Journal of Business Management ISSN 6731-4538 Vol. 3 (5), pp. 001-011, May, 2009. © International Scholars Journals
Full Length Research Paper
The IMF and industrial relations dimension of instability in post-independent Nigeria
Sola Fajana1* and Adejoke Ige2
1Department of Industrial Relations and Personnel Management, University of Lagos, Nigeria.
2Department of Industrial Relations and Personnel Management, University of Lagos, Nigeria.
Accepted 18 March, 2009
Abstract
This study argues that, based on the Nigerian experience, there is a connection between IMF-type programmes and instability in some of the countries that adopted them. Structural supply- oriented policies such as reducing the size of the public sector and the removal of state resources from that sector to the private sector (privatization), creating financial intermediaries, promotion of savings, and discouragement of wasteful spending by increasing real interest rates all help to reduce the welfare of workers. Reactions of industrial workers to this deficiency, disappointment, and irritation are however smothered by the compulsion and suppression of state agencies.
Key word: IMF, Industrial Relations dimension, instability, post –independent Nigeria.