[size=18pt]Buharinomics - General Buhari’s economic program marshaled out to salvage the nation in 1984 [/size]

http://www.elombah.com/index.php?option=com_content&view=article&id=5720:is-general-buhari-the-problem-with-nigeria&catid=36:pointblank&Itemid=83

Buharinomics was General Buhari’s economic program marshaled out to salvage the nation in 1984. He summarized the objective of his economic policy (as articulated in the 1984 budget) as follows: "To arrest the decline in the economy, to put the economy on a proper course of recovery and solvency, and to chart a future course for economic stability and prosperity" (West Africa, May 14, 1984). He had previously done similarly, in March while receiving the visiting Sudanese President, Gaafar Nimeiri. Upon his inquiring of what the new military government had in mind for the nation it then ruled, Buhari said to him: "The priority [of his administration] is for economic recovery, providing employment opportunities, improving people's living conditions, consolidating internal security and ensuring foreign respect" (Africa Now, March 1984). In a nutshell, Buharinomics set out to arrest the decline in the economy and refocus it towards recovery. Buharinomics was to wean the nation off consumerism and profligacy, while channeling it towards frugality and productivity. To accomplish this, the government was to cut down on its expenditure, engage in more efficient restricting and controlling of foreign exchange outflow, undertake the revival of the country's productive capacity (concentration was on agriculture), and broaden government's revenue base.

The first test of Buharinomics was implemented to revive the comatose banking industry and arrest local currency hoarding. In April 1984, the government ordered a change in the color of the Naira. This action was dubbed the “real coup” by unscrupulous business men and politicians who had almost eliminated the need for commercial banking in Nigeria by keeping their moneys under their mattresses or by trafficking them into neighboring West African countries. This currency change, which forced all holders of the naira notes into exchanging them for the new naira notes at commercial banks, infused billions that had remained unaccounted for into the banking industry and eliminated counterfeited currencies, which had inflicted inflationary and other nefarious effects on the economy. This measure had an immediate revitalizing effect in the banking industry and was an unqualified success. Banks that were close to collapsing became vibrant again, to the extent that some of them began to hire hitherto unemployed Nigerians.

To cut down on government expenses, the federal work force was cut by 30% and imports for 1984 pegged at 4 billion pounds (mostly on basic foodstuffs, spare parts, and raw materials for local industries), against 14 billion pounds spent in 1983. To ensure that Nigeria remained respectable on the international business world, Buhari committed to honoring Nigeria’s debt payment schedule irrespective of the limited earning potential of Nigeria. In August 1984, Buhari was on one of his meet-the-people nationwide tours, which he began as soon as the administration got on its feet. Everywhere he went, the people embraced him, coming out en mass and ushering him tumultuous cheers and unreserved applause. In one of his speeches to the people (this one in Owerri), he reiterated Nigeria’s commitment to honoring its debts, the dire economic situation notwithstanding. "The task of this administration is how to persuade Nigerians to understand that for a number of years to come, we would be paying debts, the roads may be long and thorny but we believe that on our shoulders lies the responsibility to save our fatherland from devastation that has resulted from mismanagement" (Newswatch, February 18, 1985).

Buhari could not have been any more correct in his statement above. Assuming Nigeria took no further loans, its breakdown of loan repayments was as follows: 3.9 billion naira ($4.4 billion) in 1985, 3.7 billion naira ($4.19 billion) in 1986, 2.8 billion naira ($3.2 billion) in 1987, until a decrease to 703 million in 1991 (Concord Weekly, May 6, 1985). Nigeria’s precarious financial situation made it impossible for it to finance capital projects and meet up its balance of payment obligations. With oil export pegged at 1.3 million barrels per day by OPEC, borrowing from external sources became necessary. To this effect, Nigeria proposed borrowing 1.795m naira to finance its capital project from the IMF. The patriotism with which General Buhari handled Nigeria’s dealings with the IMF was the highlight and beauty of Buharinomics.

In order to qualify for the loan, IMF gave Nigeria certain conditions which must be met. In 1984 when the naira exchanged for $1.34, the IMF demanded a minimum of 60% devaluation of it. Buhari refused, agreeing only to a "crawling peg"—a mechanism whereby government would realign the currency gradually, forestalling or minimizing economic and social dislocations because of such drastic devaluation of its currency. In addition to the devaluation of the naira, IMF demanded that government took other drastic actions: (a) The government must remove its subsidy on petroleum. (b) It must curtail its expenditure. (c) Government must rationalize its tariff structures. (d) It must put a freeze on its wages. (e) It must put a total end of non-statutory transfers to State governments, (f) Government must at least institute a 30% raise on interest rates—government resisted this because the decline in its revenue earnings and its debt obligations made it almost impossible to raise interest rates without triggering inflation (West Africa, May 14, 1984).

The Nigerian government and veteran economists in Nigeria (like Aluko, Onosade, Okigbo, etc) could not make sense of being asked to devalue its currency when Nigeria’s imports were in dollar and its export (fixed quantity of oil) was also in dollar. The implication of devaluation was that Nigeria would pay more to import lesser quantity of goods than it did prior to any devaluation. It would also export the same amount of oil it exported before any devaluation and derive lesser revenue than it received before any devaluation The impacts of it debt payment would have harsher effect on the citizenry if the naira was devalued. This did not make any economic sense to Buhari; it struck him as an insult on the intelligence of the African. Finance Minister Onaolapo Soleye and Alhaji Abubakar Alhaji who led the Nigerian delegation to the last negotiation in Washington were chewed out by US Federal Reserve Chairman, Paul Volcker, for presenting the Nigerian governments rejection of most of these recommendations. For rejecting the IMF conditions and the loan, the Buhari administration got into the black book of Washington. Already, it had earned the dislike of 10 Downing Street for cutting down Nigeria’s imports from the UK by about 350%. In any case, without the IMF loan, government was still in a bind as to how to finance capital projects and pay for imports, especially spare parts for local industries, food items, etc. At this juncture, the genius and resourcefulness of Buharinomics illuminated to the delight of the African.

First, the administration sent Oil Minister Tam David West to OPEC to seek a raise in the quantity of oil that Nigeria could export. If OPEC agreed, Nigeria would expect to generate extra revenue in the long run from any increase of its oil quota and this would assist tremendously in augmenting the shortfall in the nation’s purse. Professor West came back empty handed—the US and Britain had put pressure on their puppets in OPEC (like Saudi Arabia) to refuse Nigeria’s request.

To counter OPEC’s bluff, the Buhari administration entered into a $2 billion barter trade agreement with four countries. Nigeria daily bartered 200,000 barrels of oil as follows: (a) completely knocked down parts for automobiles from Brazil. (b) Construction equipment from Italy (c) Engineering equipment from France, and (d) Capital goods from Austria. This barter trade took care of the administration’s need to have borrowed money but it intensified the ill will the US and Britain had for Nigeria. By bartering this oil, Nigeria was: (a) solving those needs which the proposed IMF loan was geared toward. Doing so without borrowing or feeling the pains of spending the meager amount generated from its OPEC approved 1.3 billion a day oil export is the stuff an economic wizard is made of. (b) Britain had been cut off as Nigeria’s major supplier of the goods which the countries in the barter agreement sent to Nigeria. (c) The US usurious money lenders were denied the chance to suck Nigeria dry through the IMF loan. (d) American and British oil companies were irate that the oil being bartered would flood the oil market, cutting in on their profits. (d) The oil being bartered was oil that used to be illegally bunkered before Buhari put illegal oil bunkering artist out of business. For once, an African country had put positive economic mechanism in place to salvage its ailing economy without swallowing IMF’s poison pills.

As far as America and Britain were concerned, there was a price to be paid by this Buhari, who thought he was smart enough not to accept subservience to their authority. To begin with, a London newspaper (The Financial Times) published Nigeria’s barter trade agreement with Brazil (which, in truth, was done in secrecy because Buhari treated some aspects of his economic policy as State secret). The British thought it was going to incite OPEC against Nigeria since OPEC as a body did not support oil bartering. Oil Minister Tam David West, in a press conference, said, “If a nation believes it is part of its strategy for national survival to do this [barter trade], why not?” To assure OPEC that Nigeria was not indulging in barter trade in order to pull out of OPEC, he added ”Our strategy is to stay in OPEC and make its presence felt, and work together on programs that will be for the economic interest of all” (Concord Weekly, May 6, 1985). There is more to this barter trade than time will permit one to detail in this piece. For now, it is worth noting that it was the major reason for which Britain and America wanted the Buhari administration overthrown.

The counter trade showcased Buhari as a visionary. He made America and Britain feel silly and they swore to get him out of office. When Babangida took over, on his maiden speech to the nation he promised to revisit the counter trade agreements. Within two weeks in office, September 17, 1985, he setup a panel to review it and recommend to his administration how to revive the economy without the use of counter trade. Babangida rolled back counter trade at the behest of his imperialist masters and at the detriment of the Nigerian nation and people.

By the time the Buhari administration was overthrown in August of 1985, Buharinomics was beginning to yield dividends. For example, the inflationary rate had fallen from 23.2% in 1983 to 5.5% in 1985. Nigeria did not regret rejecting the IMF loan because it was meeting its obligation of prompt debt payment and the bartered goods were, to some extent, holding up within the austerity measure which had been in place since the Shagari days. Food was becoming reasonably available for two reasons: (a) The emphasis paid to agriculture had resulted in abundant food harvests, especially yam tubers. (b) The border closure made it impossible for unscrupulous business men to continue smuggling food items into neighboring countries where they sold for twice their value in Nigeria.

Had Buharinomics continued for at least five years, Nigeria would have joined the Asian tigers in economic growth and self reliance. We know that to be true because Babangida came into office and did everything the IMF asked and the Nigerian economy took a dive into the gutter and has not recovered yet.

I also have been invited to several groups that i didn't participate for one reason or the other,  and I shouldn't be condemning and saying bad thing about the people who invited me or the group, I am so disappointed in you Jarus really.


On the Buhari case, I have said it before and i am still saying it again for all to hear.

I am a supporter not a follower, A follower may decide to follow him to the canal, but i support objectively.

If he can't support another candidate, am off.

I supported him not because he his not corrupt but because he his better than the other available options in my opinion.

[size=18pt]05 January 1984 - ITN News (video clip)
GEN. BUHARI PRESIDES AT SWEARING IN OF MILITARY GOVERNORS AND WARNS THEM OF PENALTIES FOR CRIME AND CORRUPTION. (video clip)[/size]

[flash=500,500]
https://www.youtube.com/watch?v=Z_JjYG-ef8M?version=3[/flash]

http://www.itnsource.com/shotlist//ITN/1984/01/05/AS050184005/?s=nigeria&st=2&pn=96&sortBy=date
(this clip starts moving after first 35seconds)

Nineteen military governors were formally appointed by the new Head of State, Major-General Mohammed Buhari, and other members of the country's Supreme Military Council (SMC) in Lagos on January 4 to run Nigeria's federal states.

General Buhari attended the official swearing-in ceremony, which came four days after he led a bloodless coup ousting former President Shehu Shagari.

Speaking at the ceremony, Buhari reminded his new governors of their duties.All were chosen, he said, for their ability to discharge their responsibilities in the best interests of the country.He went on to warn them that crime and corruption for personal gain, one reason for the coup, would be ruthlessly punished.

General Buhari added the corruption and hoarding in the private sector would not be tolerated.He ended his speech by telling the assembled governors they were answerable to the country's military chiefs of staff and subject to redeployment at any time.

All former state governors have been given a week to report to police.

General Buhari has pledged to revive the country's economy and also to end the armed robberies in major cities that have become commonplace in the last few years.The fate of former top officials in the Shagari administration is still to be decided by the new military government, and Shagari himself is being held in custody.

https://www.nairaland.com/nigeria/topic-693700.64.html

[size=18pt]8th January 1984 - The NY Times
Buhari steps up search for all Politicians and Officials who have failed to report to a Police Station.[/size]

LAGOS, Nigeria, Jan. 7— Nigeria's new military Government is stepping up searches for former politicians and officials of the civilian Government that was overthrown in a coup a week ago.

The new regime is making television appeals for news of the whereabouts of former officials and other Nigerians who are wanted for questioning and is urging citizens to telephone the police if they have information about those who are being sought.






[size=18pt]10th Janary 1984 - The NY Times
4,000 EX-OFFICIALS SURRENDER IN NIGERIA[/size]

Western diplomats reported today that as many as 4,000 officials of the ousted national and state governments had turned themselves in to the police as part of the new military Government's investigation of corruption. The diplomats said most of the former officials were released, some after their passports were confiscated. But about 400 were reportedly still held under what was described as ''military protection.''

At the same time, the Western diplomats and Nigerian sources said, many of the former officials who were on what the military Government of Maj. Gen. Mohammed Buhari called its ''most wanted list'' have managed to flee the country. Some who were abroad during the military takeover have decided to remain there.


https://www.nairaland.com/nigeria/topic-693700.64.html

I can not see any reason why Buhari must be the president of this country.
He made a statement not to challenge the last election in court and not to even contest an election again, but he's never a man of his words. To me, he has failed both in action and in words.
Why most of our old politician refuse to quit the stage is that, they are selfish, they want to sell in their ideology by force.
No matter how great your transformation idea is, you can not succeed alone unless u carry majority along by sharing your view and let the populace be convince by themselves not forcing it down their throat.

Sai mai gaskiya, If buhari say go to the bank and collect money I will go without a cheque, IS THIS THE SAME buhari?, SAI MAI KARIYA

[size=25pt]To all Reasonable people out there. I supported Buhari in 2003, 2007 and 2011. In the last election, I used my personal resources to campaign and even mobilize agents for CPC on the election day because I believed Buhari would have been a far better leader than GEJ.

But I am not in support of Buhari contesting again. We do not want another dying man in office. We deserve a younger person.

I believe Buhari should go out there, get a young man we can trust and offer him his political base to transform this country. If Buhari cannot give us a young man we can trust, then he obviously should not be good enough for us this time around.

Let be wise for once. It is not about Buhari or any other person. It is about me and you; it is all of us. Our future and our country![/size]

[size=18pt]23 March 1984 - ITN News
BUHARI’S GOVERNMENT LAUNCHES “WAR AGAINST INDISCIPLINE”[/size]

Nigeria's military government is stepping-up its campaign against corruption, mismanagement and indiscipline at all levels in Nigeria society.

Preliminary hearings into corruption and abuse of office against former politicians and civil administrators have already begun and on March 21 the government launched its war against indiscipline.

One of the first areas under attack is Illegal Street trading in the capital Lagos. The military government of Major-General Buhari has promulgated a decree forbidding the street trading, a major source of income for many thousands of Lagos people. Police have already begun arresting street vendors and confiscating their wares.

The campaign is also designed to foster greater personal and social discipline with Nigerians being urged to queue for buses in an orderly fashion. The crackdown on indiscipline was announced by Brigadier Tunde Idiagbon, a member of the Nigerian Supreme Military Council.

BRIGADIER TUNDE IDIAGBON: "I want you to bear in mind the need to emphasise self-discipline and leadership by good example.
Begin by drawing public attention to little but important everyday manifestations of indiscipline such as rushing into buses, driving on the wrong side of the road, littering the streets, parks and dwelling compounds, cheating, taking undue advantage of scarcity to inflate prices for quick monetary gains, constituting ourselves into public nuisances, walking without commitment and devoting little or no time to the upbringing of our children.

Up to this moment there has been no formal declaration of war against indiscipline, it is my pleasure therefore to declare today a launching day for the war against indiscipline."

[size=18pt]12TH APRIL 1984 - ITN NEWS
BUHARI'S MILITARY TRIBUNAL MEMBERS SWORN IN TO PROSECUTE 500 DETAINED POLITICIANS, OFFICIALS AND OTHERS CHARGED WITH FINANCIAL FRAUD[/size]
The swearing-in took place in Lagos on April 11 of members of Nigeria's special military tribunals which will try 475 detainees charged with financial misdemeanour.

The military government, in power since a coup on December 31, 1983, arrested public officials and businessmen accused of diverting millions of dollars of public money under the previous civilian regime.
The tribunal members, 20 military officers and five judges, were sworn in by Chief Justice Sodiende Sowemimo, and will begin their work around the end of April in five regional centres.

When Major-General Mohammed Buhari came to power in the New Year's Eve coup, he promised a crackdown on public corruption as one way of solving Nigeria's economic crisis.

In February, 1984, his government launched a "War against Indiscipline" to encourage a more efficient society. More recently, security forces in Lagos rounded up 6,000 suspected criminals, political extremists and illegal aliens.

A drive is currently in progress to force down food prices through raids on shopkeepers and others suspected of hoarding food.

TRANSCRIPT:
NAVAL OFFICER: (SEQ 5) "I (name indistinct), affirm that as member of the special military tribunal in (indistinct) set up under the recovery of public property (special military tribunals) decree 1984 and 1984 Number 3, I will faithfully and impartially, and to the best of my ability discharge the duties devolving upon me under the tribunal, so help me God."

[size=18pt]30th April 1984 - ITN News
BUHARI SCRAPS OLD NAIRA NOTES AND CIRCULATES NEW CURRENCY IN ORDER TO RENDER STOLEN / SMUGGLED CASH WORTHLESS.[/size]

Nigerians waited in long queues outside banks in Lagos on April 25 to change old notes for new. Nigeria's decision to scrap its currency and start again with a new Naira marked a sudden stepping-up of the military government's attack on corruption.

The government announced on April 24 that banks would start changing new notes for old the next day.
Brigadier Tunde Idiagbon, who ranks second in the new administration, said in a national television broadcast that the country's land borders would be closed immediately in a move to render the old Naira worthless abroad.

The changeover will extend to May 6.In that time people will be allowed to change up to 5,000 old Naira for new notes. Anything over that amount must be deposited in banks, accomplished by affidavits proving source and ownership -- another move to pinpoint corruption.
Brigadier Idiagbon said the withdrawal of the old notes had become necessary because rampant smuggling of Naira had been a key factor in the sabotage of the Nigerian economy.

He said that hundreds of thousands of Naira had been found in the homes of several former state governors after the civilian government was ousted on December 31 last year. (remember in 1984 1Naira fetched more than 1 dollar)
Since April 25, bank officials have been trying to move the new money across the counters as fast as they were receiving it, but many have complained that people were forced to queue for hours outside banks which had run out of money to distribute.


https://www.nairaland.com/nigeria/topic-693700.64.html

[size=18pt]18 June 1984 - ITN News
GENERAL BUHARI LAUNCHES ALL-OUT DRIVE AGAINST CORRUPTION.[/size]

After months of indecision the military rulers of Nigeria have launched a major crack-down on corruption and indiscipline. Decrees have been issued by the government of Major General Mohammed Buhari curbing the country's press and threatening with jail any adult Nigerian who has held foreign currency over the past five years.

The government of the oil-rich country of 80 to 100 million people, has announced a campaign against disorderliness, inefficiency, sloth and disregard for hard work.

It has also empanelled military tribunals to try deposed civilian office holders accused of corruption. The campaign seems to have achieved an initial degree of popular acceptance but there has been widespread criticism of the military tribunals holding hearings in secret.


https://www.nairaland.com/nigeria/topic-693700.96.html

[size=18pt]8th May 1984 - The NY Times
Buhari announces plans for hefty cuts in government spending and reduction of imports[/size]

LAGOS, May 7— Nigeria's military head of state, Maj. Gen. Mohammed Buhari, announced a tough austerity budget today for 1984 featuring hefty cuts in Government spending, higher interest rates and cuts in credit growth.

General Buhari said in a nationwide broadcast that Government spending this year would be cut by 15 percent from a budget presented by the ousted civilian Government only two days before its overthrow on New Year's Eve.

He said the Government would continue to try to cut imports, while giving priority to raw materials and spare parts for industry and agriculture, to reduce the country's balance of payments deficit.

General Buhari also said the Government would make every effort to keep oil production, which accounts for more than 90 percent of foreign exchange, up to the 1.3-million-barrels- a-day quota set by the Organization of Petroleum Exporting Countries.

https://www.nairaland.com/nigeria/topic-693700.96.html

[size=18pt]6th July 1984   -  ITN News  (Video Clip)
UK: Exiled ex-minister wanted in Nigeria for  embezzlement, discovered by British Police in crate bound for Nigeria (Video Clip)[/size]

http://www.itnsource.com/shotlist//ITN/1984/07/06/AS060784001/?s=nigeria+&st=2&pn=95&sortBy=date

Scenes from Stansted Airport where exiled former Nigerian minister, Umaru Dikko, was yesterday  (5.7.84) found drugged in a crate.
17 people have been arrested - three of whom were in crates at Stansted with Mr Dikko.

Nigerian govt deny involvement with the kidnapping, but the crate in which Mr Dikko was found was sent from the Nigerian High Commission and addressed to the Ministry of External Affairs in Lagos, where Mr Dikko is wanted for embezzlement.
A British Caledonian plane is being detained at Lagos in a diplomatic move by the Nigerian govt.


[flash=400,400]
https://www.youtube.com/watch?v=kyTMMoh7xUQ?version=3[/flash]


https://www.nairaland.com/nigeria/topic-693700.96.html

my question is when was the last time you wept for Nigeria? This man (Buhari) wept publicly for his dear Country Nigeria why would he retire, abeg make try his luck you never know did I just said luck > that was the same thing that brought Us to our knee Goodluck

Quick corretion, buhari did not cry for Nigeria, he busted into pre-planed tears (with his friends) when he got to 'this been the last time he would be able to contest for presidency' part of his dry speech , it was a cry of defeat as he sensed he has lost this one again after seeing the acceptance level of GEJ.

Just so you know, buhari is not a democrat, till date he has never won any election, never ever not even a primary , 2ice he contested on ANPP platform he did not contest and did not win but other contestant (Rochas okorocha, Harry Akande etc) were forced to step down for him , even in cpc he didnt contest in any primary election , he left ANPP for CPC because Shakarau will not step down for him and he saw it coming ,

The solution to Nigeria's problem in not in any of the idea Buhari holds currently , shamefully he thinks he has supporters but in actual fact, most seemingly intelligent youth that support his last candidacy did so because of Bakare ,

dayotee2:

Quick corretion, buhari did not cry for Nigeria, he busted into pre-planed tears (with his friends) when he got to 'this been the last time he would be able to contest for presidency' part of his dry speech , it was a cry of defeat as he sensed he has lost this one again after seeing the acceptance level of GEJ.

Just so you know, buhari is not a democrat, till date he has never won any election, never ever not even a primary , 2ice he contested on ANPP platform he did not contest and did not win but other contestant (Rochas okorocha, Harry Akande etc) were forced to step down for him , even in cpc he didnt contest in any primary election , he left ANPP for CPC because Shakarau will not step down for him and he saw it coming ,

The solution to Nigeria's problem in not in any of the idea Buhari holds currently , shamefully he thinks he has supporters but in actual fact, most seemingly intelligent youth that support his last candidacy did so because of Bakare ,

I disagree with u. Buhari has supporters. Buhari is clean. My probs is that he is getting too old. We want young men like him. He should help us fish out one; and should not insist on contesting again.

Godman_n:

I disagree with u. Buhari has supporters. Buhari is clean. My probs is that he is getting too old. We want young men like him. He should help us fish out one; and should not insist on contesting again.

Buhari is not clean, how can a clean man put up a coup to take over the governance of a nation thereby rubbishing a democratic process and mandate of the people , (his comment on abacha sold him out for me , claiming abacha did not steal a kobo from Nigeria is shameful) , the fact that he was neva probed or accused doesn't make him clean , just like every other past military head of state, none has ever been probed or indicted , let us just leave it at that , and the only time we ever attempted on probing them was at oputa panel and buhari did not show up to be questioned.

Buhari is in the same class as Babaginda, Abacha, Abulsalam , etc

dayotee2:

Buhari is not clean, how can a clean man put up a coup to take over the governance of a nation thereby rubbishing a democratic process and mandate of the people , (his comment on abacha sold him out for me , claiming abacha did not steal a kobo from Nigeria is shameful) , the fact that he was neva probed or accused doesn't make him clean , just like every other past military head of state, none has ever been probed or indicted , let us just leave it at that , and the only time we ever attempted on probing them was at oputa panel and buhari did not show up to be questioned.

Buhari is in the same class as Babaginda, Abacha, Abulsalam , etc

Even as a Baby, I celebrated the december 1983 coup that brought Buhari to power. Shagari's NPN was just like PDP of today. The only Buhari was was to have spared the lives of the stealing politicians who were released from the detension that Buhari clamped them after overthrowing Buhari. As for being Clean. Even his opposers admits this.

Remember Obj in his normal way probed PTF when Buhari declared for ANPP in 2003 hoping to catch, him but he got nothing. If Buhari has stolen show me evidence of his wealth? He has only two houses, one in Kaduna and the other in Daura. He lives on his retirement Benefits. Even to fund CPC he could not. Have you been hearing stories of CPC being evicted.

Don't beleive stealing PDP members, Buhari is clean. You may say he is inclined towards Northern and Islamic interest; but he is clean. Give it to him.

Are you aware that the West started mounting pressure for SAP that destoyed our economy right from the last days of Shagari's government. Buhari rejected this. That was a major reason why America played a major role in getting Saudi Arabia to use the trap of invitation for lesser Hajji as trap for Idaigbon. Without that, Idiagbon and his loyalist would have been around to stop IBB's coup. Even IBB was placed on house arrest by Idiagbon for drug related offences. But Abiola, Yar'adua, the Danatatas with the help of US and Saudi helped to stage the coup that removed them.

SAP was imposed as a consequence and we are still paying for these with a dead economy and high unemployment rate.

@jarus, I have requested you to clarify your comment about me earlier and i will not relent until you explain what i did which in your opinion made me a political jobber or someone looking for cheap popularity. Or you apologize for such a vulgar comment.

That remark is the worst insult i have ever received from anyone in my whole life and if that is coming from you, it demand an explanation.

I have never insulted anyone on this forum,not you, not anyone, so if because i had an opinion and expressed it made you uncomfortable, why not just walk away,instead you made such an insulting and embarrassing comment about someone,

[size=18pt]8th May 1984 - The NY Times
Buhari announces plans for hefty cuts in government spending and reduction of imports[/size]

LAGOS, May 7— Nigeria's military head of state, Maj. Gen. Mohammed Buhari, announced a tough austerity budget today for 1984 featuring hefty cuts in Government spending, higher interest rates and cuts in credit growth.

General Buhari said in a nationwide broadcast that Government spending this year would be cut by 15 percent from a budget presented by the ousted civilian Government only two days before its overthrow on New Year's Eve.

He said the Government would continue to try to cut imports, while giving priority to raw materials and spare parts for industry and agriculture, to reduce the country's balance of payments deficit.

General Buhari also said the Government would make every effort to keep oil production, which accounts for more than 90 percent of foreign exchange, up to the 1.3-million-barrels- a-day quota set by the Organization of Petroleum Exporting Countries.











Thanks everyone for the encouragement, I am finding it very fascinating - I do not think I could stop now even if I tried







[size=18pt]17th May 1984 - ITN News
QUEUES FORM OUTSIDE BANKS AS CURRENCY CHANGEOVER TAKES EFFECT.[/size]

Queues stretched outside the banks of Lagos on May 4 as people waited to hand in their invalid bank notes. Nigeria's military rulers ordered the currency changeover as part of an anti-corruption campaign.

The old notes had to be deposited in banks before May 6. After that date, new bank notes would be issued. But Nigerian banking sources have since conceded that an acute shortage of the new currency existed. On May 15, it was reported that there were still queues outside banks, with some people so short of cash they were going hungry. Before the currency changeover, petrol stations and food prices dropped. few people were able to obtain cash with which to purchase goods.

The military government of General Muhammad Buhari took power when the civilian administration of President Shehi Shagari was overthrown on December 31, 1983. Since then, Buhari has instituted a number of reforms, announcing on May 7 an austerity budget for 1984 which government spending by 15 per cent and reduced imports.

A tough new press law was published in April, giving the government the power to close radio stations and newspapers.

Buhari also turned his attention to cleaning up the streets of Lagos, creating a task force to remove all abandoned cars from the city. Offending vehicles were towed away and crushed. Major Oladimeji was given charge of this mission


https://www.nairaland.com/nigeria/topic-693700.96.html

Dayotee2.
Its obvious U are a child If not U will know dat Buhari's coup of 84' was d best thing to happen in Nig then

As for his contesting 2015 we look fwd to it. He has a right to do so.
We hope others come out too or else Buhari again!

[size=18pt]25th June 1985  - ITN News
Buhari's anti-corruption tribunal convicts British /Arab  business woman, Mahmet Chambi of economic sabotage[/size]

The Lagos Zone of the exchange control-anti sabotage tribunal today, ordered a British/Arab business woman Mrs Mahmet Bahia Bin Chambi and five other companies to refund a total of 2,558,744,902 26k to the Federal Military Government.

In addition Mrs Chambi is to be imprisoned for twelve years for the first count and ten years each for three other charges, the sentences are to run concurrently. Thus she is expected to spend twelve years in jail.

Delivering judgement in a case of an alleged illegal transfer of over 98 million naira Mr Justice Oladipo Williams ordered Mrs Chambi to pay N98,124,903.01k and that she should be deported at the expiration of her prison sentence.

The other companies include Green Engineering Limited as second accused and Uniparts and hardware Nigeria Limited as the third accused.

The other three accused are Nimpex, Sexterin and Unicon Enterprises, Nigeria Limited, respectively who are to refund 492,123,999.85k each.

Mr Justice Oladipo Williams after reviewing the case noted that from all intent and purpose the accused persons had intentionally planned from the beginning to sabotage the Nations economy which he said is punishable under the exchange control anti sabotage decree of 1984.

The other five accused persons who were represented by their Nigerian Directors' were however discharged but not acquitted.

The sentence are subject to the ratification of the Supreme Military Council.

[size=18pt]27 August 1985 - ITN News
Buhari's anti-corruption policies cause collapse of corrupt British Bank, Johnson Matthey (video clip)[/size]

http://www.itnsource.com/shotlist//ITN/1985/08/27/AS270885010/?s=nigeria&st=2&pn=94&sortBy=date

JOHNSON MATTHEY COLLAPSE: A link is established between 27.8.85 the collapse of the Johnson Matthey Bank (which had to TX be rescued by the Bank of England last year) and loans made to a circle of Indian businessmen trading with Nigeria. The trade collapsed when Pres Alhaji Shehu Shagari was swept from power after a military coup on 31.12.83


https://www.nairaland.com/nigeria/topic-693700.128.html

GEJ and Buhari are not our problem, Nigerians are Nigeria's problem!!!!

There’s a major difference between running a nation as a dictator and running one as a democratically elected president.

Even though Obasanjo was supposedly democratically elected, did he not run his government like dictator?

So it really upto the Head of State how he chooses to run the country.

The important thing is that the leader has to be patriotic and have the interest of Nigerians at heart.

Buhari is proven to be patriotic leader.

@Jarus, I am calling you for the third time to apologize for your wrong words or prove them.

I rest for now.

:d

Has Buhari apologised for his actions on and during the July 1966 crisis?

@VoodooDoll,
I think you are talking about leaders of the July 1966 coup that toppled and killed General Ironsi.

What exactly is Buhari to apologise for?

Buhari was just barely 23 years old in 1966.

Did he lead the coup?

You need to try another angle my friend.

[size=18pt]10th June 1984  - The NY Times
Former Gov. Melford Okilo of Rivers State is jailed for 21 Years for having Foreign Bank Accounts[/size]

.LAGOS, Nigeria, June 9— Former Gov. Melford Okilo of Rivers State has been jailed for 21 years by a military tribunal for illegally holding bank accounts abroad, newspapers reported today.

The reports said that he had been given four concurrent 21-year sentences in a trial in Enugu rather than 84 years, as reported on television Friday.

The charges involved two bank accounts held in Britain and in the United States. It is illegal for a public official in Nigeria to have a foreign bank account.



https://www.nairaland.com/nigeria/topic-693700.96.html

So much for our bunch of Recycled Generals and 'Hand-Me-Down' leaders.   

It seems we reel them off a never ending stream of production lines to further compound our situation.