[size=18pt] 5th February 1985 -  Toledo Blade, Ohio. Newspaper
Buhari rejects IMF terms for loan[/size]

The Nigerian leader, Gen. Muhammad Buhari, says his country will match Britain;s oil prices even if it means undermining the pricing structure of the Organization of Petroleum Exporting Countries, the Financial Times reported yesterday.

The London business daily reported that General Buhari, in an interview in Lagos, also reaffirmed Nigeria's rejection of the International Monetary Fund's terms for a $2.4 billion loan.
General Buhari was quoted as saying the benefits if membership in the cartel outweighed the disadvantages, but that the 13-nation organization had to be realistic and allow flexibility for member countries in financial dificulties, such as Nigeria.

If Britain's North Sea oil prices dropped, Nigeria, which gets 95% of its foreign earnings from oil, would follow suit, he was quoted as saying, adding: "We will have to do that to survive."
General Buhari rejected monetary fund demands that Nigeria devalue its currency, the naira, by 50 to 60 per cent and that the west African country reduce domestic fuel subsidies, the Financial Times said.
The military leader, who came to power in a Dec. 31, 1983, coup, reportedly said higher prices for food and other items would result from devaluation.







[size=22pt]28th February 1985  - Herald Journal newspaper
Nigerian court acquits American woman of illegally exporting oil from Nigeria[/size]

Lagos, Nigeria (AP) - A military court  on Wednesay acqutted American businesswoman Marie McBroom of illegally exporting oil from Nigeria. Had she been convicted she could have been executed by a firing squad.
Mrs McBroom, who pleaded innocent to all six counts of the charge, had been in jail for a year and was freed shortly after the acquittal. She went to the U.S> Embassy and called her daughter in New York City.
Dana McBroom Manno said her mother "sounds great. She sounds in very good spirits," and planned to leave Nigeria very soon, perhaps today.

The 59-year-old businessswoman from Jersey City,N.J/, was the first foreigner acquitted of offenses related to Nigeria's petroleum industry by military tribunals established after a coup ousted the civilian government Dec. 31. 1983. A Spanish sea captain has been sentenced to death, and his government is appealing for mercy.





27 April 1985 - ITN News
[size=18pt]HUNDREDS OF THOUSANDS OF REFUGEES MOVE AS NIGERIA EXPELS ILLEGAL FOREIGN WORKERS[/size].
Story
An estimated 700,000 West Africans have been moving out of Nigeria this month, as the Lagos government has been enforcing the deportation of illegal foreign workers from Ghana, Togo, Benin and other neighbouring nations. Nigeria is re-opening its land borders, closed for the past year, in order to allow the illegal immigrants either to leave or legalise their stay.

They have been given a deadline of May 10. About 300,000 of those affected are Ghanaians, while an estimated 100,000 come from drought-stricken Niger in the north. On April 25, about 1,000 Ghanaians left by ship from Lagos Port, and reports in the local press said huge crowds were building up at the Lagos airport. Two years ago, an estimated two million foreigners were expelled from Nigeria -- half of them Ghanaians, who were forced to leave in a disorganised exodus.

It threatened to create one of the biggest refugee problems ever seen in Africa. Hundreds of thousands walked from Nigeria through Benin and Togo on their way to Ghana. At the Togo-Benin border they waited in a huge traffic jam of trucks, cars, carts and buses, while Togolese border guards kept them in line with whips and clubs.

20th June 1985 - ITN News
[size=18pt]UK: Exiled ex-minister Dikko, wanted in Nigeria for embezzlement appeals against extradiction (video clip).[/size]

http://www.itnsource.com/shotlist//ITN/1985/06/20/AS200685009/?s=nigeria&st=2&pn=94&sortBy=date

While Umaru Dikko - the former Nigerian 20.6.85 government Minister found kidnapped in a crate at Stansted TX Airport nearly a year ago (on 5.7.84) - makes a last minute appeal to stay in Britain, three Britons, Angus Patterson, Kenneth Clark and Graham Coveyduck, are being detained without trial in Nigeria.

Intvw Mrs Jean Coveyduck, wife of Graham Coveyduck, on the conditions her husband is being held in. Intvw Umaru Dikko, former Nigerian Transport Minister, who is wanted in Nigeria on charges of bribery and corruption, and who is seeking political asylum in Britain, on the British detainees.

[size=18pt]25th June 1985  - ITN News
Buhari's anti-corruption tribunal convicts British /Arab  business woman[/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 98,124,903,01k 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]28th June 1985 -ITN News
Wimbledon Tennis: Nduka Odizor reaches 2nd round but loses out in a close match with John McEnroe[/size]

John McEnroe, top seed in the Wimbledon Tennis championships, was twice taken to tie breaks in his match against Nduka Odizor of Nigeria on June 28, before going through to the next round with a win of 7-6, 6-1, 7-6.

[size=18pt]12 August 1985 - ITN News
Nigeria defeats West Germany 2- 0 to win  U-16 World Cup Football - 11th August 1985 in China[/size]
[flash=600,500]
https://www.youtube.com/watch?v=_dU12WVUNUU?version=3[/flash]

Great thread

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


https://www.youtube.com/watch?v=7ZzxFbY6C6Y

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.

@Ezeuche,
Thanks


[size=18pt]Summary of General Buhari's economic performance - [/size](sources : data from Central Bank of Nigeria , Wikipedia, elombah news Written by Nebukadineze Adiele  17 March 2011 )

Inflation in 1984  -  39%
Inflation in  Aug 1985 on Buhari leaving office - 3.2%
Naira to Dollar exchange rate largely unchanged at N1 = $1.34 on Buhari leaving office (no devaluation of naira)



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.

[size=18pt]27 August 1985 - ITN News  (video clip)

General Ibrahim B. Babangida (IBB) overthrows  General Buhari in bloodless coup[/size]

NIGERIA COUP: Background to military coup in Nigeria, led 27.8.85 by Chief of Staff, Major General Ibrahim Babangida (named TX as the new President). The fate of former Pres, Maj Gen Mohammed Buhari, who swept Pres Shehu Shagari from power on 31.12.83 in order to end corruption & inflation, is not known.

http://www.itnsource.com/shotlist//ITN/1985/08/27/AS270885003/?s=nigeria&st=2&pn=94&sortBy=date

[size=18pt]Wikipedia:[/size]

Babangida was the Chief of Army Staff and a member of the Supreme Military Council (SMC) under the administration of Major General Muhammadu Buhari.

Babangida would later overthrow Buhari's regime on 27 August 1985 in a bloodless military coup that relied on mid-level officers that Babangida silently and strategically positioned over the years.[citation needed]

He came into power in a military coup promising to bring to an end the human rights abuses perpetuated by Buhari's government, and to hand over power to a civilian government by 1990.[citation needed].
Eventually,he perpetuated one of the worst human right abuses and lots of unresolved political assassinations.[citation needed]

does anybody know of other sources of archived Nigerian news?

[size=18pt]Maiden Speech of Major-General Ibrahim Babangida – August 27 , 1985[/size]

Fellow Nigerians, When in December 1983, the former military leadership, headed by Major-General Muhammadu Buhari, assumed the reins of government, its accession was heralded in the history of this country. With the nation at the mercy of political misdirection and on the brink of economic collapse, a new sense of hope was created in the minds of every Nigerian.

Since January 1984, however, we have witnessed a systematic denigration of that hope. It was stated then that mismanagement of political leadership and a general deterioration in the standard of living, which had subjected the common man to intolerable suffering, were the reasons for the intervention.

Nigerians have since then been under a regime that continued with those trends. Events today indicate that most of the reasons which justified the military takeover of government from the civilians still persist.

The initial objectives were betrayed and fundamental changes do not appear on the horizon. Because the present state of uncertainty, suppression and stagnation resulted from the perpetration of a small group, the Nigerian Armed Forces could not as a part of that government be unfairly committed to take responsibility for failure. Our dedication to the cause of ensuring that our nation remains a united entity worthy of respect and capable of functioning as a viable and credible part of the international community dictated the need to arrest the situation.

Let me at this point attempt to make you understand the premise upon which it became necessary to change the leadership. The principles of discussions, consultation and co-operation which should have guided decision-making process of the Supreme Military Council and the Federal Executive Council were disregarded soon after the government settled down in 1984. Where some of us thought it appropriate to give a little more time, anticipating a conducive atmosphere that would develop, in which affairs of state could be attended to with greater sense of responsibility, it became increasingly clear that such expectations could not be fulfilled.

Regrettably, it turned out that Major-General Muhammadu Buhari was too rigid and uncompromising in his attitudes to issues of national significance. Efforts to make him understand that a diverse polity like Nigeria required recognition and appreciation of differences in both cultural and individual perceptions, only served to aggravate these attitudes.

Major-General Tunde Idiagbon was similarly inclined in that respect. As Chief of Staff, Supreme Headquarters, he failed to exhibit the appropriate disposition demanded by his position. He arrogated to himself absolute knowledge of problems and solutions, and acted in accordance with what was convenient to him, using the machinery of government as his tool.

A combination of these characteristics in the two most important persons holding the nation’s vital offices became impossible to content with. The situation was made worse by a number of other government functionaries and organisations, chief among which is the Nigerian Security Organisation (NSO). In fact, this body will be overhauled and re-organized.

And so it came to be that the same government which received the tumultuous welcome now became alienated from the people. To prevent a complete erosion of our given mandate therefore, we had to act so that hope may be rebuilt.

Let me now address your attention to the major issues that confront us, so that we may, as one people, chart a future direction for our dear country. We do not pretend to have all the answers to the questions which our present problems have put before our nation. We have come with the strongest determination to create an atmosphere in which positive efforts shall be given the necessary support for lasting solutions.

For matters of the moment which require immediate resolutions, we intend to pursue a determined programme of action. Major issues falling into this category have been identified and decisions taken on what should be done.

Firstly, the issue of political detainees or convicts of special military tribunals. The history of our nation had never recorded the degree of indiscipline and corruption as in the period between October 1979 and December 1983.

While this government recognises the bitterness created by the irresponsible excesses of the politicians, we consider it unfortunate that methods of such nature as to cause more bitterness were applied to deal with past misdeeds. We must never allow ourselves to lose our sense of natural justice. The innocent cannot suffer the crimes of the guilty. The guilty should be punished only as a lesson for the future. In line with this government’s intention to uphold fundamental human rights, the issue of detainees will be looked into with despatch.

As we do not intend to lead a country where individuals are under the fear of expressing themselves, the Public Officers Protection Against False Accusation Decree 4 of 1984 is hereby repealed. And finally, those who have been in detention under this decree are hereby unconditionally released. The responsibility of the media to disseminate information shall be exercised without undue hindrance. In that process, those responsible are expected to be forthright and to have the nation’s interest as their primary consideration.

The issue of decrees has generated a lot of controversies. It is the intention of this government to review all other decrees.

The last twenty months have not witnessed any significant changes in the national economy. Contrary to expectations, we have so far been subjected to a steady deterioration in the general standard of living; and intolerable suffering by the ordinary Nigerians have risen higher, scarcity of commodities has increased, hospitals still remain mere consulting clinics, while educational institutions are on the brink of decay. Unemployment has stretched to critical dimensions.

Due to the stalemate, which arose in negotiation with the International Monetary Fund, the former government embarked on a series of counter-trade agreements. Under the counter-trade agreements, Nigerians were forced to buy goods and commodities at higher prices than obtained in the international market. The government intends to review the whole issue of counter-trade.

A lot has been said and heard about our position with the International Monetary Fund. Although we formally applied to the fund in April 1983, no progress has as yet been made in the negotiation and a stalemate has existed for the last two years.

We shall break the deadlock that frustrated the negotiations with a view to evaluating more objectively both the negative and positive implications of reaching a mutual agreement with the Fund. At all times in the course of discussions, our representatives will be guided by the feelings and aspirations of the Nigerian people.

It is the view of this government that austerity without structural adjustment is not the solution to our economic predicament. The present situation whereby 44 per cent of our revenue earning is utilised to service debts is not realistic. To protect the danger this poses to the poor and the needy in our society, steps will be taken to ensure comprehensive strategy of economic reforms.

The crux of our economic problems has been identified to centre around four fundamental issues:

1. A decrease of our domestic production, while our population continues to increase.

2. Dependence on import for both consumer goods and raw materials for our industries.

3. A grossly unequal gap between the rich and the poor.

4. The large role played by the public sector in economic activity with hardly any concrete results to justify such a role.

These are the problems we must confront.

ON FOREIGN POLICY:

Nigeria’s foreign policy in the last 20 months has been characterised by inconsistency and incoherence. It has lacked the clarity to make us know where we stood on matters of international concern to enable other countries relate to us with seriousness. Our role as Africa’s spokesman has diminished because we have been unable to maintain the respect of African countries.

The ousted military government conducted our external relations by a policy of retaliatory reactions. Nigeria became a country that has reacted to given situations, rather than taking the initiative as it should and always been done. More so, vengeful considerations must not be the basis of our diplomacy. African problems and their solutions should constitute the premise of our foreign policy.

The realisation of the Organisation of African Unity of the Lagos Plan of Action for self-sufficiency and constructive co-operation in Africa shall be our primary pursuit.

The Economic Community of West African States must be reborn with the view to achieving the objective of regional integration. The problems of drought-stricken areas of Africa will be given more attention and sympathy, and our best efforts will be made to assist in their rehabilitation within the limits of our resources. Our membership of the United Nations Organisation will be made more practical and meaningful. The call for a new International Economic Order which lost its momentum in the face of the debt crisis will be made once again.

Nigeria hereby makes a renewed request to the Non-Aligned Movement to regroup and reinvigorate its determination to restructure the global economic system, while we appeal to the industrialized nations to positively consider the debt plight of the developing countries and assist in dealing with the dangers that face us. We shall remain members of the various multilateral institutions and inter-governmental organisations which we belong to and do what must be done to enhance the membership and participation within them.

Fellow Nigerians, this country has had since independence a history mixed with turbulence and fortune. We have witnessed our rise to greatness, followed with a decline to the state of a bewildered nation. Our human potentials have been neglected, our natural resources put to waste. A phenomenon of constant insecurity and overbearing uncertainty has become characteristic of our national existence.

My colleagues and I are determined to change the course of history. This government is determined to unite this country. We shall not allow anything to obstruct us. We recognise that a government, be it civilian or military, needs the consent of the people to govern if it is to reach its objective. We do not intend to rule by force. At the same time, we should not be expected to submit to unreasonable demands. Fundamental rights and civil liberties will be respected, but their exercise must not degenerate into irrational expression nor border on subversion.

The War Against Indiscipline will continue, but this time, in the minds and conduct of Nigerians, and not by way of symbolism or money-spending campaigns.

This government, on its part, will ensure that the leadership exhibits proper example. Criticisms of actions and decisions taken by us will be given necessary attention and where necessary changes made in accordance with what is expected of us.

Let me reiterate what we said in 1984: This generation of Nigerians and indeed future generations have no other country but Nigeria. We must all stay and salvage it together. This time it shall be pursued with deeper commitment and genuine sincerity.

There is a lot of work to be done by every single Nigerian. Let us all dedicate ourselves to the cause of building a strong, united and viable nation for the sake of our own lives and the benefits of posterity.

Finally, I wish to commend the members of the Armed Forces and the Nigeria Police for their mature conduct during the change.

I thank you all for your co-operation and understanding.

God bless Nigeria.

[size=18pt]31 August 1985 - ITN news  (video clip)
New Military Ruler Ibrahim Babangida (IBB), releases 87 politicians and others imprisoned by Buhari for corruption and other crimes including detained British citizen Mr Coveyduck[/size]

http://www.itnsource.com/shotlist//ITN/1985/08/31/AS310885003/?s=nigeria&st=2&pn=93&sortBy=date








[size=18pt]1st September 1985  - The New York Times
Ibrahim Babangida  releases 87 from jail[/size]

LAGOS, Nigeria, Aug. 31— Nigeria's new military Government today began freeing scores of people detained by the country's former rulers.

The Armed Forces Ruling Council, whose leaders took power in a coup four days ago, on Friday night ordered the release of 87 people jailed by the former regime.

The 87 included former Cabinet ministers, state governors, journalists and foreign businessmen.

Nigeria's new leader, Maj. Gen. Ibrahim Babangida, said the detainees were being set free as part of his policy to end human rights abuses.

A spokesman said that the cases of other prisoners would be reviewed and that many were likely to be set free.

Many of the prisoners released today were rounded up in anti-corruption drives. Others had been held for months without formal charges.

[size=18pt]
10th September 1985  - ITN News (video clip)
British Foreign Secretary Sir Geofrey Howe arrives in Nigeria to meet Babangida 2 weeks after his coup and before his full cabinet is appointed [/size]

http://www.itnsource.com/shotlist//ITN/1985/09/10/AS100985012/?s=nigeria&st=2&pn=93&sortBy=date

NIGERIA: The Foreign Secretary, Sir Geoffrey Howe, arrives 10.9.85 in Lagos for talks with Nigeria's new leader, Maj Gen Ibrahim Babangida aimed at improving relations with Nigeria. Nigeria is Britain's biggest trading partner in black Africa. Sir Geoffrey also raised the case of two Britons, Angus Patterson and Kenneth Clark who have been held in Lagos for a year charged with conspiring to steal an aircraft.

No we know who set Nigeria back
That Babangida thingy should be in jail if Jonathan had any nuts.

If anybody know of any other source of archived Nigerian news stories or videos, please post the link.
thanks in advance

[size=18pt]4th October 1985 - ITN News
Babangida ends Buhari's Barter Trade Agreements as Nigeria celebrate 25th year of independence on 1st Oct 1985[/size]

Babangida took the opportunity at the celebrations to announce a State of Economic Emergency in this, the most populous of African nations. He said it would lat 15 months. With 20 billion US dollars in foreign debt, rising inflation and unemployment and low agricultural output, Nigeria has found itself dependant economically on a weak oil market for hard currently to pay for its vital imports. 95 per cent of Nigeria's hard currency needs comes from oil sales. Babangida compared the emergency period to the belt tightening austerity of Nigeria's 1967-1970 civil war.

He said he would end the practice of trading oil for consumer goods and food, and would examine whether oil could be used to finance industrial and technological development. Nigerians would be allowed to open foreign currency accounts in an effort to boost the country's low foreign currency reserves. Other funds would be raised by selling off government holdings in state run companies, starting with hotels, breweries and distilleries. Rice and Maize imports would be banned to stimulate self-sufficiency in agriculture and only debts whose validity was unquestioned would be repaid.

The President also announced that a programme for the country's political future would be unveiled next year but gave no details, making it clear that economic recovery was the immediate priority. Analysts took the guarded references as a hint of a return to civilian rule. Nigeria has had two civilian governments in its 25 years of independence from Britain.

GenBuhari:



29th July 1975

Gowon overthrown in bloodless coup, Muritala Mohammed assumes power.

General Yakubu Gowon was ousted as Nigeria's Head of Government on Tuesday (28 July) while attending the Organisation of African Unity summit meeting in Kampala. News of the power take-over came from the Commander of General Gowon's elite Guards Brigade, Colonel Joseph Garba.

Lagos Airport was ringed by troops and a dusk-to-dawn curfew has been declared, but Colonel Garba claims the coup has been bloodless.
In a radio broadcast, Colonel Garba spoke of the action being taken "after what has happened during the past few months" but did not elaborate.

General Gowon received the news during a session of the OAU conference and immediately left for his hotel. He has been quoted as saying that although he suspected something could happen in Nigeria during his absence he could not believe it had actually happened.

The former leader then left Kampala for an unknown destination.

General Gowon came to power in 1966 and his regime was due to step down in 1976 to make way for civilian rule. But last October he announced that the time was not right for such a handover.His own rise to the top came with a bloody army mutiny and he held top office during two and a half years of bitter civil war. General Gowon finally brought peace to his shattered country of 55 million people in January 1970. He was only 35 at the time and one of Africa's youngest leaders.

Tuesday, coup followed months of labour and student unrest in Africa's most populous nation. Students were inflamed by General Gowon's October speech,  going back on his promise of civilian rule and campus anger led to the closing of several universities last February.

Labour unions seeking higher wages brought a spate of strikes and industrial unrest to the country.

The Gowon administration was also troubled by demands for the creation of new states within the 12-state Federation.

.

Now insert "Goodluck Jonathan" everywhere "Gowon" appears. Ahhhhhhh. . . . . .  starting to sound like 2011 Nigeria, dont it?

Now, Pay even closer attention to the bolded. Your country is headed for the rocks and only the blind refuse to see.

Gen sir,I and some other patriotic Nigerians will forever hold u in high esteem

Thanks for the kind words

[size=18pt]21st December 1985  - The New York Times
BABANGIDA ARRESTS COUP PLOTTERS [/size]

Nigeria has foiled a plot to depose its four-month-old military Government, and many military officers have been arrested, the Defense Minister said today. Three army generals and several senior air force officers were among those seized for plotting against the Government of Maj. Gen. Ibrahim Babangida, high-ranking military sources said. The coup attempt was still being plotted when the arrests were made, the sources said.

[size=18pt]7th January 1986 -ITN News
Babangida sends External Affairs Minister to London to discuss Nigeria's economy.[/size]
A look at the economic problems facing Nigeria 7.1.86 which has recently taken the decision to set a limit on how much it is going to repay in loans next year.
Nigeria's External Affairs Minister, Professor Bolaji Akinyemi, is in London to meet Foreign Sec Sir Geoffrey Howe and to discuss Nigeria's attempt to revive its economy.

[size=18pt]15 January 1986   -  The New York Times
Babaginda's Government seeks and gets U.S. Support for its new economic programme[/size]
 
Nigeria's Foreign Minister, A. Bolaji Akinyemi, said today that he had won the support of the United States for a new economic program in Nigeria that looks forward to export-led growth and ultimate resumption of full payments to creditors. The endorsement of Secretary of State George P. Shultz ''was unqualified,'' Mr. Akinyemi said in a telephone interview.

[size=18pt]28 February 1986  -ITN News
Babangida's tribunal sentences 13 Military officers including Gen. Mamman Vatsa, to death for plotting a coup..[/size]
A military tribunal passed death sentences on 13 Nigerian officers on February 25. The officers, including a cabinet minister, were sentenced to death by firing squad for having plotted an abortive coup last year to overthrow the government of President Ibrahim Babangida. At least 14 officers from Nigeria's army, navy and air force were arrested last December when the authorities announced they had foiled the plot to overthrow General Babangida, who himself came to power in a coup last August. The judgements were handed down by the President of the specially investigating panel, General Charles Ndiomu. Although the tribunal has the power to pass the death sentence, the judgements have to be ratified by the Armed Forces Ruling Council (ARFC), and those convicted have the right to appeal to the joint service chiefs. The most senior of the plotters sentenced was General Mamman Vatsa, a former member of the ARFC and minister in charge of Nigeria's new capital, Abuja.

[size=18pt]
29th May 1986 - ITN News
IBB closes universities as students continue to demonstrate campus killings[/size]
After four days of student demonstrations on university campuses, Nigerian military authorities on May 29 ordered the closure of several campuses and a ban on demonstrations and processions. The demonstrations began after police officers killed several students in clashes at Ahmadu Bello University in the northern town of Zaria on May 23. Since the violence began, 12 out of Nigeria's 23 universities have been closed.

In Lagos on May 28 rampaging protesters swarmed on to one of the capital's main expressways near the University of Lagos, which was also closed on May 28, setting fire to seven or eight government-owned cars and damaging buses. Nigerian police chief Elim Inyang, who is a member of the policy-making Armed Forces Ruling Council, said that at colleges which had remained calm, authorities were ordered to confine students to campus. Parents were told to take their children home to prevent more violence. The Zaria shootings occurred after disciplinary action was taken against two student leaders for their part in a demonstration in April to commemorate student riots in 1978.





[size=18pt]28th June 1986 - The NY Times
Babangida Bans All Former Politicians From Holding Office For 10 Years[/size]

. .LAGOS, Nigeria, June 27— Nigeria's military ruler, Maj. Gen. Ibrahim Babangida, announced today that former politicians would be barred from holding office for 10 years and presented a series of sweeping economic revisions.

30 June 1986 - The New York Times
[size=18pt]Babangida announces plan to devalue Naira[/size]

LAGOS, Nigeria, June 29— The military Government, accepting the Western prescription for reviving the collapsed economy, has announced a plan to devalue Nigeria's currency, the naira.

President Ibrahim Babangida, in a nationwide television address Friday, outlined a plan intended to reduce the official value of the naira slowly until it coincides with the black-market rate.







[size=18pt]18th August 1986 -  ITN News
Athletics: Chidi Imoh sets new African 100m record[/size]
Chidi Imoh of Nigeria set a new African record of 10.00 seconds in the 100 metres in the West Berlin Athletics Grand Prix on August 15. Imoh's hopes of winning a sprint medal in the Commonwealth Games were dashed by the Nigerian Government's decision to boycott the event in Edinburgh, but he gained some compensation with his fine run in West Berlin. Only Ben Johnson of Canada, the fastest man in the world this year, has proved consistently better than Imoh, and in his absence the Nigerian had little trouble in defeating world record holder Calvin Smith of the United States, who came third, and Marian Woronin of Poland, who finished second in 10.11 seconds.

19th August 1986 - ITN News
[size=18pt]UK prepares to impose visa on visitors from Nigeria (video clip)[/size]
The increasing number of foreign visitors trying to enter the country is causing a crisis at British airports. The Home Office is considering a visa system, for visitors from Nigeria, Ghana & the Indian subcontinent, but this would damage foreign relations.

http://www.itnsource.com/shotlist//ITN/1986/08/19/AS190886013/?s=nigeria&st=2&pn=92&sortBy=date

[size=18pt]1st October 1986 - BBC News
Babangida reaches agreement with IMF for a loan following huge devaluation of Naira[/size]

Arrangements that could make $1.5 billion available to Nigeria are in the final stages as a result of an accord between Africa's most populous country and the International Monetary Fund, officials said today. One official, who spoke on the condition that he not be identified, said Nigeria was seeking as much as $2 billion in additional loans from commercial banks.










16 October 1986 - ITN News
[size=18pt]Wole Soyinka wins Nobel Literature Prize (video clip)[/size]

Nigerian playwright Wole Soyinka became the first black Nobel Literature prize winner and the first African to gain the world's most prestigious literary award on October 16. Soyinka, 52, a Yoruba from northern Nigeria was jailed during his country's 1967-1970 civil war after returning from an abortive attempt to mediate between the Biafra secessionists and the federal government. The Swedish Academy who awarded the 290,000-United States-dollar prize said Soyinka was in his prime as an author and paid tribute to his richly varied literary production.

http://www.itnsource.com/shotlist//ITN/1986/10/16/AS161086007/?s=nigeria&st=2&pn=92&sortBy=date

[size=18pt]20th October 1986 - The New York Times
PARCEL BOMB KILLS NIGERIAN JOURNALIST DELE GIWA WHO WAS VERY CRITICAL OF IBB'S REGIME[/size]
A Nigerian journalist was killed today when a parcel bomb delivered to his home exploded. The journalist, Dele Giwa, editor in chief of Newswatch magazine, died in a Lagos hospital shortly after the explosion. Two other people in the room were slightly wounded, according to a Newswatch statement and Nigerian television.

13th January 1987
[size=18pt]US Secretary of State in Lagos  to raises concerns about Nigerian heroin trafficking[/size]
LAGOS, Nigeria, Jan. 12— Heroin trafficking, American wheat imports, South Africa and Libyan moves in Chad were discussed today by Secretary of State George P. Shultz and Nigerian leaders after Mr. Shultz flew in for a quick round of talks in Africa's most populous country.

After meetings with the President of the military Government, Maj. Gen. Ibrahim Babangida, and Foreign Minister Bolaji Akinyemi, Mr. Shultz praised Nigeria's economic changes. Those changes include devaluating the currency, the naira, ending some subsidies and shifting away from Government control of parts of the produce market.

''They are already working,'' he said of the changes. ''They're seeing results from them.'' He spoke at a news conference before leaving for the Ivory Coast, Nigerian officials did not make themselves available to reporters to discuss any aspects of the talks.

American officials say Nigeria has become a transit point for heroin from India, Pakistan, Afghanistan and Thailand to the United States. Some discussions today included Nigerian law enforcement officials and focused on joint efforts to stop the trade. Official to Visit U.S. Mr. Shultz publicly invited Attorney General Bola A. Ajibola to Washington to meet with Attorney General Edwin Meese 3d ''with the hope that we can work out a mutual legal assistance treaty that will enable us to work together effectively.'' The Secretary said later that Mr. Ajibola had accepted.

Nigerians are arrested almost daily trying to smuggle heroin into the United States, an American Embassy official said. Some of those arrested had earlier presented diplomatic notes from the Nigerian Government when applying for United States visas, indicating possible complicity by some Nigerian officials.

Nigerian customs inspectors frequently take bribes to not open bags, the American official said, although the authorities here have recently begun penalizing corrupt inspectors with arrest, dismissal or transfers.

Nigeria had no narcotics law until March 1985, the American official said. In 1986, the United States Customs Service held a course here for about 40 Nigerian customs agents on how to notice and search airline passengers who might be carrying drugs. There were 294 drug-smuggling arrests here in 1986.








[size=18pt]17th March 1987
At least 14 people killed in Kaduna religious violence between Christians and Muslims[/size]
More than 5,000 people detained after last week's riots in the Northern province of Kaduna face summary trial as the authorities prepare to crackdown on religious organisations. Nigeria's military leader, General Ibrahim Babangida, has announced the setting up of a five-member judicial tribunal to try the detainees for offences such as arson, treason, rape and murder. That can carry the death penalty. At least 14 people died in the riots which followed clashes between Moslem and Christian students in the small railway town of Kafanchan, a Christian enclave in the mostly Moslem north. About 100 churches were reduced to rubble, beer halls smashed and other property destroyed by mobs of Moslem youths.

[size=18pt]15th April 1987 - The NY Times
Obasanjo writes Article in The NY Times - about Debt and Drugs in third World[/size]

Among the issues that most trouble the West and especially the United States are the international traffic in drugs and the third world debt. The linkage between the two is often missed. Both involve corruption, but there is more to the relationship than that.

In a very real sense, capital flight from third world countries - a crucial component of their debt problem - encourages the traffic in drugs and would not be possible without the collusion of Westerners and their banks.

I therefore propose linking the two international problems to find solutions. Western countries should take stern measures to end the flight of capital from developing countries. This in turn would give developing countries strong incentives to crack down on drug traffic, since much of that traffic arises from an urgent economic need to generate funds lost through capital flight.

Capital flight through corruption is damaging to the country of origin and beneficial to the country receiving and holding the funds. Drug trafficking brings social and economic damage to the recipient country, while -moral and political issues apart -financially benefitting the country of origin. It is in everyone's interest to end these menacing problems, for drugs are sapping the strength of the industrialized world, while capital flight, through corruption, is similarly wounding the third world.

Both these evils have serious economic effects. Up to one-third of all official and private loans to third world nations, for example, may well be ending up in hospitable havens outside those nations. But their impact on society is even more devastating. Drugs take their greatest toll in Western countries on those who matter most to the future, young people; in developing countries, corruption has a similar impact, killing ethics and morality, especially among the young.












11th May 1987  -  The New York Times
[size=18pt]Chief Obafemi Awolowo Dies, age 78[/size]
LAGOS, Nigeria, May 10— Chief Obafemi Awolowo, a founding father of Nigerian nationalism, died Saturday in his hometown of Ikenne in Ogun state. He was 78 years old.

Chief Awolowo, a lawyer, publisher and politician, served as Premier of the self-governing Western region from 1954 until Nigeria achieved full independence from Britain in 1960. He played a major role in the constitutional conferences in London and Lagos that paved the way for independence.

Chief Awolowo was opposition leader in the first post-independence Parliament and came to be regarded as leader of the Yoruba tribe. The Yorubas are one of the West African nation's three major ethnic groups and live mainly in the south and west.

In 1979 and 1983, Chief Awolowo was the Unity Party's presidential candidate, losing to the northern-based National Party of Shehu Shagari. When the Shagari Government was overthrown by a military coup Dec. 31, 1983, Chief Awolowo returned to private life.









[size=18pt]2nd July 1987  - The New York Times
BABANGIDA DETAILS PLAN FOR RETURN OF CIVILIAN RULE[/size]

LAGOS, Nigeria, July 1— President Ibrahim Babangida announced a political plan today to guide Nigeria from military rule to civilian democracy by 1992.

Last year, President Babangida, an Army major general, promised to return the nation, black Africa's most powerful and most populous nation, to civilian rule by 1990.

Tonight, in a broadcast watched by millions of his countrymen, the President said five years would be needed to prepare Nigeria for civilian rule.

''Values do not change overnight, nor do people change old habits as if one were switching off and switching on the light,'' the President, a former tank commander, said.

In 27 years of independence from Britain, Nigeria has had six coups and two periods of civilian rule. 'Economy Was Plundered'

''The economy was plundered ruthlessly,'' the President said today of the last period of civilian rule. ''Rigging mechanisms were perfected brilliantly by politicians.''

Earlier today, the Government released a 168-page white paper that detailed the transition to civilian rule.

The timetable provides for local non-party elections this year, a constituent assembly in 1988, removal of a ban on party politics in 1989, state elections and census in 1991, and local, state and Federal elections in 1992.

Nigeria's American-style Federal Constitution, adopted in 1978, is expected to be retained largely intact. Changes Under Plan

But in one major change, the number of political parties is to be limited to two. In Nigeria's last election, in 1983, six parties fielded candidates.

Provisions that have not changed include: a two-chamber Federal Congress, single-chamber legislatures for Nigeria's 19 states, and a restriction limiting presidents to two terms of four years each.

In his speech, President Babangida warned politicians not to try to speed up the transition.

''Government does not recognize any sacred cow and would like to remind politicians that the ban on party or partisan politics is still very much in force,'' he said. Military to Retain a Role

Nigeria's first civilian government, a parliamentary, British style system, lasted from independence in 1960 until the first Army coup in 1966. A second civilian period of presidential, American-style government lasted from 1979 to 1983.

Military rule returned on New Year's Eve 1983 with a coup by Maj. Gen. Muhammadu Buhari. Maj. Gen. Babangida overthrew the Buhari Government in August 1985.

When the military last handed over power to a civilian, President Shehu Shagari, in 1979, it returned to the barracks. This time, it evidently wants to retain a voice in the political system.

Two members of a commission of eight that is to oversee the elections will be active-duty military officers of a rank of lieutenant colonel or above. Oil Industry Is Addressed

The five-year blueprint was approved today by Nigeria's Armed Forces Ruling Council, which is composed of 19 officers.

This version differed on several points from a similar report prepared this year by a Government commission composed largely of intellectuals.

The commission report called for nationalizing Nigeria's oil industry and for the ''socialization of the commanding heights of the economy.''

Today, the Government report rejected nationalizing foreign oil companies, which operate as minority partners with the state company, Nigerian National Petroleum Corporation. Views on Political Ideology

The military also rejected ''the imposition of a political ideology on the nation.''

''The Government believes an ideology will eventually evolve with time and a political maturity of the country,'' the report said.

The high hopes many Nigerians had at the outset of the last period of civilian rule quickly faltered on reports of rampant corruption in Government.

The tenure of President Shagari, who was elected after a national American-style campaign, coincided with historically high prices for Nigeria's major export - oil.

3rd August 1987 - The New York times
[size=18pt]Nigeria Airways in financial difficulties[/size]

LAGOS, Nigeria— Painted on the tails of Nigeria Airways jets is a fanciful character named ''Skypower'' - a flying elephant.

For the airline's managers, it symbolizes black Africa's largest passenger carrier - it flew 2.1 million passengers last year to 22 foreign destinations and 16 cities within the country.

To many passengers, though, it symbolizes a fat, slow, inefficient and unprofitable state-run company. Problems With Service

It is not unusual for both schedules and destinations to be ignored. Reservations are not honored and meals go unserved. Even Government employees, who are technically required to use the national airline on overseas trips, often fly on foreign carriers.

For every plane owned by the company, there are 500 employees, or about twice the international average. Yet domestic air fares, set by the Government, average 6 cents a mile - half the international average -and international fares are also kept artificially low.

As a result, the airline is chronically short of cash and is the only carrier in the 125-member clearinghouse of the International Air Transport Association that has been suspended for not paying debts. That means Nigeria Airways cannot write tickets for connecting flights on other airlines, and other airlines will not write tickets for connecting flights on Nigeria Airways.

In addition, some of the airline's employees have been implicated in international drug trafficking, while others have been seen selling boarding passes for $200 apiece. Privatization Urged

Dubbed ''Nigeria Airwaste'' and ''Nigeria Errways'' by disgruntled passengers, the airline is often cited as an example of the kind of state-owned company that should be put into private hands. Such privatization has been strongly urged by the International Monetary Fund and at least considered by the Government of Maj. Gen. Ibrahim B. Babangida, which has imposed a stringent austerity plan in an attempt to deal with the country's $20 billion foreign debt.

''Our national airline is a disgrace,'' Nigeria's Minister of Transport and Aviation, Brig. Jerry Useni, told airline employees in early April. ''Lateness, delays, outright cancellation of flights and a nonchalant attitude of the staff toward customers are now part of your operational guide.''

Brigadier Useni complained that the Government had doled out the equivalent of $96 million to bail out the airline in 1986. Saying that it could no longer pump money into unprofitable companies, he advised the workers, ''You must sit up and improve; otherwise you will be signing your own death warrant.'' An Alternative Suggestion

But the airline's managing director, Air Vice Marshal Anthony Okpere, showed exasperation when asked about that recently. ''Every now and then, everyone screams, 'Privatize Nigeria Airways.' '' Instead, he said, ''the airline should be commercialized,'' or divided into several cost-accountable areas.

In an interview last September with Nigeria's newsweekly, Newswatch, Marshal Okpere said: ''People who have money argue that it should be privatized. I will say that the Government should solely own the company. But the Government should give the airline a free hand to operate as a commercial enterprise. It is capable of making money.'' In public or private hands, it is clear that the airline's policies of keeping fares artificially low and serving destinations with too few passengers are seriously hindering its chances of even recouping expenses. Low-Fare Policy

International air fares for any two destinations are generally set by consensus between their governments. However, Nigeria's Government has resisted increases in international air fares originating in its two international airports, in Lagos and Kano. Hence, a Lagos-London-Lagos first-class ticket costs $1,114 if it is purchased in Lagos, but $3,203 if bought in London.

In addition, the Nigerian fares are considerably lower than those charged in other African countries for flights that cover about the same number of miles. For example, a one-way economy ticket from here to London or Paris - about 3,000 miles - costs $337. The same ticket for a flight from Abidjan, Ivory Coast, to London or Paris - also about 3,000 miles - costs $762.

This policy - in addition to a 75 percent devaluation in Nigeria's currency last October - has resulted in drastically reduced service by foreign carriers. British Caledonian Airways has cut its weekly flights from here to London to seven, from 11. U.T.A. French Airlines has cut its weekly flights from here to Paris to two, from four. And Pan American World Airways and Air India dropped their flights to Lagos. Route Was Not Profitable

''When the devaluation came, that was it - there was not enough of an adjustment in the fare,'' said Frank A. Lewis, Pan Am's acting station manager, referring to the Government's attempt to maintain profitability by almost doubling prices after the devaluation, even though the airlines said they needed a 300 percent increase.