Ibrahim Badamasi Babangida GCFR, is a retired Nigerian Army General who was President of Nigeria from 27 August 1985 to 26 August 1993.
Babangida previously served as the chief of army staff from January 1984 to August 1985.
It is on record that Babangida was a key player in most of the military coups in Nigeria.
Further, his administration is reputed the worse military administration in Nigeria because of its poor
economical polices, such as the deregulation of the agricultural sector to include:
- Abolition of marketing boards and elimination of price controls.
- Privatisation of public enterprises.
- Devaluation of the Nigerian Naira to improve the competitiveness of the export sector and
- Relaxation of restraints on foreign investment put in place by the Gowon and Obasanjo governments during the 1970s
The poor nature of his administration’s polices led to the unending fall of Nigeria Economy.
With the oil revenue, Babangida created a massive wealth for himself and his immediate family.
Babangida’s Net worth is USD 50 Billion, making him one of the top richest politicians in the World and number one in Nigeria.
Babangida’s business tactics gave him a massive wealth. Babangida personally owns over half of the London-based Fruitex International Limited corporation. He also owns nearly a quarter of Nigeria’s second-largest telecom company, Globacam.
Babangida is currently a member of People’s Democratic Party. The because opposition party in Africa.
Ibrahim Babangida is married with the following children; Aisha Babangida, Halima Babangida, Mohammed Babangida, and Aminu Babangida.
Meanwhile Babangida’s wife is Maryam Babangida, which he married 1969.
Note that Babangida was born on 17th August 1941 Minna, Nigeria.
Age 77 years.
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