1980’s represented the years of unprecedented economic crises in Africa. For Nigeria, the sharp decline in oil revenue in 1982 brought to the fore, the fragile nature of single product – dependent economy. The then Federal Government adopted elements of the Structural Adjustment Programme (SAP) ostensibly to propel the economy on the path of sustainable growth.  Deregulation of the foreign exchange market and removal of subsidies had instant biting effects on the people, especially the poor.