Saturday, 1 March 2014
Why We Honored General Sani Abacha - Federal Goverment Of Nigeria
The government stated this position in the awardees’ brochure where a brief citation was written for each recipient and reasons given why he or she deserved the award. The citation and reasons were that 1st Abacha was also a Nigerian soldier and former leader. The government said his regime recorded unprecedented economic achievements in Nigeria’s history. Mr. Abacha oversaw an increase in the country’s foreign exchange reserves from $494 million in 1993 to $9.6 billion by the middle of 1997; and reduced the external debt of Nigeria from $36 billion in 1993 to $27 billion in 1997. He also brought all the controversial privatisation programs of the Babangida administration to a halt, reduced an inflation rate of 54 per cent inherited from the Ibrahim Babangida administration to 8.5 per cent between 1993 and 1998, while the nation’s primary commodity, oil, was at an average of $9 per barrel. Mr. Abacha’s administration was also credited with creating the most ‘comprehensive and realistic blueprint’ for Nigeria’s development through Vision 2010 committee chaired by his predecessor, Ernest Shonekan. PT.