”Nobody is worth being called a friend unless he is prepared to suffer attacks on account of defending you” – Anonymous

Annual tributes to former military President Ibrahim Badamasi Babangida, IBB, has become a ritual; shared by several highly respected individuals than most people realize. Despite the determined efforts by the June 12 opportunists, all they can actually point to is the fact that the June 12, 1993 election was annulled. As is always the case with propagandists, they conveniently ignore the fact that if the first primaries, which produced Adamu Ciroma for the NRC and Shehu Yar’Adua of the SDP, had not been annulled by IBB, Abiola would never have been a candidate at all. Obviously, as far as the hypocrites are concerned, it was acceptable to cancel a primary which ended with two northerners emerging as the candidates!!! In fact, they endorsed the measure by IBB.  

“A man who has made no mistakes does not usually make anything” – Edward Phelps, VBQ p 141

Only God is infallible. All humans are prone to error; sometimes under external pressure.

Granted, a serious mistake was made when the June 12, 1993 election was annulled, nobody can claim to know how things would have worked out if Abiola was president. I had my fears. Any country which unites the greatest personal wealth with the ultimate political power in one person has already murdered democracy. That was what an Abiola presidency could have unleashed. At any rate, we have since then experienced life under six Heads of State, two military and four civilian. Though the circumstances under which each one governed are not the same, one measure of good governance is the establishment and maintenance of institutions. To simplify the comparison, I have chosen to compare Babangida’s eight years in office with those of two elected presidents since 1999 – Obasanjo and Buhari – who both served eight years in office. Despite being very selective in the presentation of evidence, the facts speak for themselves.

SELECTED BABANGIDA DECREES AND INSTITUTIONS ESTABLISHED OR STRENGTHENED

“A better educated and hopefully more enlightened Nigerian populace will in the future look at these initiatives and wonder: “Where are the monuments to honour the individual who made them possible?”

IBRAHIM B BABANGIDA, 1985-1992: LETTING A THOUSAND FLOWERS BLOOM, p 352– Dele Sobowale

Babangida did not start the Lagos Third Mainland Bridge. Civilian President Shehu was the initiator. But he had completed less than 25 per cent before his government was overthrown in 1983. Military Head of State, Muhammadu Buhari, ever unimaginative, ignored the uncompleted project during his 19 months in office. IBB came to power and immediately saw the potentials for the rapid development of Lagos State once the bridge was completed. But, unlike other self-seeking presidents, he did not name the bridge after himself; when he could have done it without a single dissenting voice. Close the bridge for six weeks and experience the difference between excellent statecraft and empty slogans about reforms which impoverish the masses. IBB enriched Lagos and indeed the entire nation immeasurably with that bridge. Nothing else that any president or governor has done can compare. Fortunately, he did more than that. Here are just a few, listed in chronological order – just in order to remind us of the debt of gratitude most of us refuse to express. Count me out. I have lived long enough, traveled to some many countries, worked with so many types of people and read so many publications to know that some people are so incorrigibly biased they would not let facts stand in the way of their prejudices. This is strictly for those with minds still open. 

1988:

• Nigerian Deposit Insurance Corporation, NDIC, Decree 25

•Securities and Exchange Commission, SEC, Decree 29

• Federal Road Safety Corps, FRSC, Decree 45

1989

•National Economic Reconstruction Fund, NERFUND, Decree 2

•National Population Commission, NPC, Decree 23

•National Directorate of  Employment, NDE, Decree 24

•National Drug Law Enforcement Agency, NDLEA, Decree 48

•Revenue Mobilisation Allocation and Fiscal Commission, RMAFC, Decree 49

1990

•Company and Allied Matters Act, CAMA, Decree 20

• National Council of States, NCS, Decree 27

•Nigeria LNG (Fiscal Incentives, Guarantees and Assurances), Decree 39

1991

•Central Bank of Nigeria, CBN, Decree 24

• Bank and Other Financial Institutions, BOFI, Decree 25

•Nigeria Export Processing Zone, NEPZ, Decree 34

•Nigeria Export-Import Bank, NEXIM, Decree 38

1992:

•Oil Mineral Producing Areas Development Commission. OMPADEC, Decree 23  (now NDDC)

• National Institute for Sports, NIS, Decree 31

•National Broadcasting Commission, NBC, Degree 38

•National Commission for Women, Decree 42

•Federal Universities of Agriculture, Decree 48

•Consumer Protection Council, Decree 66

• National Communications Commission, NCC, Decree 75

•Chartered Institute of Taxation, Decree 76

•Environmental Impact Assessment, Decree 86

• Pharmaceutical Council of Nigeria, PCN, Decree 91

There were over 300 decrees with which Nigeria is being governed right now. In fact, if all the decrees passed by Babangida were to be repealed, Nigeria would come to a halt. Greatness cannot be better defined.

VAT: THE CROWN JEWEL OF UNEQUALLED GOVERNANCE

“It is the part of a king to do good to his subjects and be maligned for it” – Alexander the Great, 356-323 BC.

Alexander was the mightiest warrior and ruler long before Jesus and Mohammed (PBTW) walked the earth. He experienced, first hand, the irony of a ruler taking measures to develop his nation and improve the social welfare of his subjects. History tells us that he was poisoned by unknown aides. IBB, also a warrior, introduced the Value Added Tax, VAT, by Decree 102 in 1993; operations started in 1994. Dr Kalu Idika Kalu, K-I-K, a Minister, was the brain behind it. K-I-K, a former World Bank Country Manager and Adviser to South Korea, when it was not anywhere near a top 20 economy, wanted Nigeria to benefit from this eminently powerful fiscal policy measure. IBB bought the idea. I was their media ally in a venture which became very painful.

Progressives, June 12 apostles, socialists and millions of know-nothings joined in condemning it. IBB stood firm. The federal, states and local governments shared N6.72 trillion in 2024 and N8.61 trillion in 2025, alone in VAT revenue. Today, the major beneficiaries of VAT, APC and NADECO, constituted the strongest opponents of VAT. But, they are neither honest enough to acknowledge they were wrong; nor, honourable enough to express gratitude to the men who made it possible. Where are the monuments erected to honour both IBB and K-I-K for enriching current office holders, who, despite unprecedented revenue, have been increasingly impoverishing Nigerians?

Happy birthday Sir. I will never stop appreciating what you have done for Nigeria.

GCUOBA LAGOS BRANCH CALLING ALL MEMBERS

Sail on Ancient Mariners.

The 18th ANCIENT MARINERS SAY CELEBRATION 2026 is scheduled to hold on the first Sunday in September. Among the matters on the day’s agenda are:

•INDUCTION CEREMONY OF THE ANCIENT MARINERS OF GCU CLASS SET OF 1972.

•LECTURE ON AGEISM: THE PROBLEMS AND PROSPECTS OF SENIOR CITIZENS

•    FUND RAISING

   DATE: Sunday September 6, 2026

VENUE: GCUOBA SECRETARIAT, 22 MCNEIL STREET, SABO, YABA

TIME:  1.30PM PROMPT

Although not an old boy, I am extremely privileged to serve this great school in any way. GCU has produced thousands of eminent Nigerians who have contributed a great deal to the development of Nigeria; one of them made it possible for you to read me today.

•Follow me on Facebook @ J Israel Biola