Tag: Babangida

Babangida justifies $12.4bn Gulf oil windfall mismanagement despite Okigbo report

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Former military President, Gen Ibrahim Babangida, says Nigeria failed to maximise its oil boom years due to what he described as a nationwide “profligacy” and “conspicuous consumption” that undermined the economy’s long-term development. He also justified the spending of the $12.4bn oil windfall by his government. “What I have done is not unusual in this country. Somebody did it before me, but I won’t mention names. We did undertake the construction of various ports and other projects (including bridges). “That money could have gone into the Federation Account. Yes, but…

IBB : Obasanjo opted to leave Army when asked to succeed Murtala

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Former Military President, Ibrahim Badamasi Babangida, has disclosed that former President Olusegun Obasanjo opted to leave the Army after he was asked to succeed former Head of State, Murtala Muhammed, following the failure of the 1976 coup that claimed Murtala’s life. IBB made this disclosure in his autobiography, A Journey in Service while giving accounts of the events that followed the attempt to forcefully take over the Murtala’s military administration by a group of mutineers led by Lieutenant-Colonel Bukar Dimka. Following Murtala’s death, IBB, in chapter 5 of his book…