The Fourth Plan (1981–85) was the most ambitious in Nigerian history at ₦82 billion (~$150bn at official rates). The Shagari administration's import liberalisation and the second oil glut (1981–82) tipped the country into the 1982 Economic Stabilisation Act and the 1986 SAP.
Oil Boom1981· ₦82bn (plan)· Chapter I · Money
Fourth National Development Plan (Shagari)
₦82 billion plan. Imports surge; external debt grows from near-zero (1975) to $19 billion by 1983.
Sources
- · Federal Ministry of National Planning (1981)
What it cost — political & economic reality
The political and economic reality
Nigeria in 1981: who was in charge, the cabinet of the day, the GDP, and the crises that defined the period.
President · Second Republic
Alhaji Shehu Shagari
1979–1983· NPN
National reality
First executive presidency. Oil-price crash from 1981 destroyed the boom. Ghana Must Go expulsion of West African migrants (1983). Disputed re-election in 1983, then the Buhari/Idiagbon coup on 31 December 1983.
Crises of the period
- Oil price collapse 1981–83
- Maitatsine riots Kano (1980)
- Ghana Must Go (1983)
- 31 December 1983 coup
GDP (World Bank)
$64 bn (1980, oil peak) → $30 bn (1983, bust)
Cabinet (selected portfolios)
- Finance
Sunday Essang → Onaolapo Soleye
- Education
Sylvester Ugoh; later others (being compiled)
Source: Federal Gazette 1979–83; CBN Annual Reports
Methodology
Tier 1 · primary
Courts. Gazettes. National archives.
Tier 2 · corroborating
OCCRP. HRW. BudgIT. TheCable.
Redline
Wikipedia is never a source.