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Which of the following best describes the economic reform agenda of Nigerian President Ibrahim Babangida (1985-1993)?


Babangida enacted many neoliberal market reforms and austerity programs consistent with the demands of the IMF.


Babangida seized control of most private industries to use their revenues for state operations.


Babangida's most significant reform was to curb the power of Nigeria's labor unions.


State spending on welfare and defense increased massively under Babangida.


Most of Nigeria's state-owned sector, including the national oil companies, were privatized by Babangida.

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