Buharism is a term rooted in the politics of Nigeria , referring to the economic principles and the political ideology of military lead government of Nigeria headed by General

Muhammadu Buhari from 31 December 1983 to 27 August 1985 . The government introduced War Against Indiscipline(WAI) [1] At its root, Buharism represented a return to harsh right wing military dictatorship after 4 years of civil rule in Nigeria, 1979-1983.

Economic Theory

Buharism rejected the dominant approach of the Washington Consensus , rather holding that for a crisis-wrecked country to successfully improve its balance of payments through
devaluation , there must first exist a condition that the price of every country's export is denominated in its own currency.

As such a condition did not exist, Buharism asserted that, for any country that Washington Consensus conditions do not exist clearly enough, there are alternate and superior approaches to solving the problem of its economic crisis .

Therefore, instead of applying devaluation to get the then crisis-wrecked economy of Nigeria back on track, Buharism rather employed a policy of curbing imports of goods deemed unnecessary, curtailing oil theft and improving exports through a counter trade policy of bartering seized illegally bunkered crude oil for needful goods like machinery, enabling it to export above its OPEC quota.

Link (https://en.m.wikipedia.org/wiki/Buharism)

LarryBee1k:
Buharism is a term rooted in the politics of Nigeria , referring to the economic principles and the political ideology of military lead government of Nigeria headed by General

Muhammadu Buhari from 31 December 1983 to 27 August 1985 . The government introduced War Against Indiscipline(WAI) [1] At its root, Buharism represented a return to harsh right wing military dictatorship after 4 years of civil rule in Nigeria, 1979-1983.

Economic Theory

Buharism rejected the dominant approach of the Washington Consensus , rather holding that for a crisis-wrecked country to successfully improve its balance of payments through
devaluation , there must first exist a condition that the price of every country's export is denominated in its own currency.

As such a condition did not exist, Buharism asserted that, for any country that Washington Consensus conditions do not exist clearly enough, there are alternate and superior approaches to solving the problem of its economic crisis .

Therefore, instead of applying devaluation to get the then crisis-wrecked economy of Nigeria back on track, Buharism rather employed a policy of curbing imports of goods deemed unnecessary, curtailing oil theft and improving exports through a counter trade policy of bartering seized illegally bunkered crude oil for needful goods like machinery, enabling it to export above its OPEC quota.

Link (https://en.m.wikipedia.org/wiki/Buharism)

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