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Money Struggles And City Life Devalution In Ibadan And Other Urban Centers In Southern Nigeria 1986-1996

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When the IMF and World Bank imposed their structural adjustment program on the defaulting economies of Africa, their macroeconomic goals were promoted as a means to increase internal growth and reduce the balance of payments deficits. The implementation of these adjustment programs in Africa, however, had a dramatic negative impact on these economies and led to widespread inflation, retrenchment and the collapse of social services. In southern Nigeria,where this research is based, citizens witnessed the end of subsidized health care and free education, while the phased devaluation of the naira, caused many professionals to leave the country in search of better opportunities in Europe, America and the Middle East. In 1993 in lbadan, where a university professor was earning less than 100 dollars a month, a popular bumper sticker “MY TAKE HOME PAY CAN’T TAKE ME HOME” aptly summed up the dire circumnstances in which most families found themselves.

Money Struggles and City Life addresses the effects of devaluation on the Nigerian popular economy and shows how ordinary citizens in the huge urban metropolis of lbadan and a few other southern Nigerian cities adapted their lives, organizations and work, often with unique and creative innovations, to deal with the crisis. The book comprises 14 chapters and two research papers (in progress) on diverse subjects from tòkunbỳ cars and waste recycling to prosperity churches and underground foreign exchange markets.

Each of the co-editors of this volume has worked extensively in, and authored many books on, West Africa over the past three decades. Jane Guyer is presently a professsor of anthropology at Johns Hopkins University in Baltimore. LaRay Denzer is visiting associate professor of history at Northwestern University, Evanston; she also taught history in Sierra Leone, Ghana and Nigeria for a period spanning 30 years. Dr. Adigun Agbaje is professor of political science and currently dean of the Faculty of Social Sciences, University of lbadan; he is also director of the Centre for Social Science Research and Development in Ikorodu, Lagos State.

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