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Babangida Destroyed Nigeria's Economy - Ayagi

Posted by From Ademola Adeyemo in Ibadan on 2004/09/12 | Views: 780 |

Babangida Destroyed Nigeria's Economy - Ayagi


Chairman of the National Economic Intelligence Committee (NEIC), Professor Ibrahim Ayagi, has accused former military president, General Ibrahim Babangida, of destroying the nation's economy. There are speculations that Babangida would contest the 2007 presidential polls.

Chairman of the National Economic Intelligence Committee (NEIC), Professor Ibrahim Ayagi, has accused former military president, General Ibrahim Babangida, of destroying the nation's economy. There are speculations that Babangida would contest the 2007 presidential polls.

Ayagi, after delivering the inaugural lecture at the founder's day of the Policy Development Centre (PDC) told newsmen that, "should that person (Babangida) come back, God forbid, you have the picture I gave of all the things that happened between 1985 and 1993."

"If you a leader, you destroyed the economy, are you the right person to come back? Why should you come back? To destroy again?" he asked.

Ayagi, who Babangida removed as Union Bank chairman, said that "nothing good can come from him (Babangida)."

According to Ayagi, the former president did not believe in genuine economic reforms but cosmetic reforms and deceit.

"You are what you are, if you are not disposed to genuine reforms, you are not, you can never change, you cannot be made a new," he added.

Ayagi declared that Babangida's second coming will further destroy the already bad economy "that is what it is, you can only be judged by your antecedent, he (Babangida) is coming to destroy the economy, to destroy the nation," he said.

The Economic Intelligence chief warned that "to allow Babangida to come back is to destroy the foundation already laid for economic reform by Obasanjo's administration."

"Unless Nigerians want to be destructive, if an incoming government failed to build on the present foundation, it will be unfortunate for Nigeria," he said.

According to him, the problem with Nigeria is having the right leadership which can build the nation and put things right. "If we have the right leadership the country will be led aright, if not the country is accursed.

"A wrong leader can reverse the whole process of nation building from good to bad, from positivity to negativity, from morality to immorality, from discipline to indiscipline, from right against corruption to corruption permeation, from patriotism and nationalism to the sell out and mortgaging of the national resources and the national interest to Nigerian's foreign creditors."

Ayagi said that the above description fitted the Babangida administration which ruled from 1985 to 1993, and "dribbled Nigeria and Nigerians to undesirable situations." He accused Babangida's government of "institutionalised corruption and indiscipine in Nigeria.

This administration brought Nigeria's economy to its knees, he succeeded in wiping out the middle class and over bloated the population of the lower class." Earlier, Professor Bimpe Aboyade, widow of the founder of Policy Development Centre, Professor Ojetunji Aboyade, explained that the centre was established to serve as a forum for eminent scholars, researchers, professionals and other practitioners of all levels of the economy to deliberate on development issues.

She said "it is about the only policy institution in the country that focuses on bridging the gap between the public and private sectors, civil society and academias." Former military leader, General Abdulsalami Abubakar, was chairman of the occasion. Other personalities are Professor Bolanle Awe, Chief (Mrs.) Folake Solanke, Chief Omowole Kuye, Professor Tekena Tamuna and Professor Olu Akinkugbe.


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