Foreign Investment In Nigeria Under Structural Adjustment Programme (sap)

1.1INTRDUCTION According to annual report of the Central Bank of Nigeria, the Nigeria economy has performed less well in the 1980’s than the 1970’s. Much of the growth in both periods was based on performance of the oil sector. By 1970 oil output stood at 558 million barrels and increased to 823 million barrels by 1973. Between 1975 – 1985, oil output per day averaged between 1.8 and 2.3 million barrels respectively. With the dramatic rise in oil price in 1973 and 1974 oil came to account for 31.9% of growth in real gross domestic products and has since continued to dominate economic perf…