Nigeria Law
Oil Boom — Failures & Good Spending

Babangida1987 — 92Documented failure· Off-budget· Chapter I · Money

Better Life Programme Funds

Maryam Babangida-led programme; subsequent audits queried disbursement of agricultural credit and cooperative funds.

The Better Life for Rural Women Programme operated largely outside the federal appropriation system. Subsequent audits (Vision 2010 secretariat; OAuGF) noted significant unreconciled cooperative credit disbursements and untraceable beneficiary lists.

Sources

  • · OAuGF Review 1999
  • · Vision 2010 Secretariat Records

What it cost — political & economic reality

The political and economic reality

Nigeria in 1989: who was in charge, the cabinet of the day, the GDP, and the crises that defined the period.

Military President

Gen. Ibrahim Babangida

1985–1993

National reality

Structural Adjustment Programme from 1986 — devaluation of the naira, deregulation, austerity that has, in real terms, never been recovered. Dele Giwa murdered by parcel bomb (1986). Annulled the 12 June 1993 election.

Crises of the period

  • SAP 1986
  • Dele Giwa assassination (1986)
  • Orkar coup attempt (1990)
  • Annulment of June 12, 1993

GDP (World Bank)

$30 bn (1985) → $15 bn (1993, post-SAP devaluation)

Cabinet (selected portfolios)

  • Education

    Prof. A. Babs Fafunwa (1990–92)

  • Finance

    Chu Okongwu; Olu Falae; Kalu Idika Kalu

Source: Federal Military Government Gazette 1985–93; CBN

Methodology

Tier 1 · primary

Courts. Gazettes. National archives.

Tier 2 · corroborating

OCCRP. HRW. BudgIT. TheCable.

Redline

Wikipedia is never a source.