In 1983, Major General Muhammadu Buhari seized power in Nigeria in a coup d’etat. The military regime was immediately pressured by the IMF to implement harsh austerity measures; devaluation of the currency, drastic cuts in social spending, suspending subsidies, raising fuel prices, and widespread privatization; and Buhari was committed to obey all of this.
Sound familiar?
Well, here is the part that doesn’t sound familiar…Buhari had overthrown Shehu Shagari, who was also committed to IMF Austerity measures because he had been unsuccessful implementing the reforms, and it was believed a military dictator could do it more efficiently, but when he tried to promote the same agenda, he was himself overthrown 2 year later.