FG: Why We Gave Abacha Centenary Award

The Federal Government defended its decision to honour General Sani Abacha with a centenary award by listing the economic achievements of the late military head of state’s regime.

Although admitting that Abacha’s tenure from 1993 to 1998 was controversial, the FG stated that the military dictator deserved to be among the 100 Nigerians to receive an award posthumously during the ceremony at the Presidential Villa in Abuja because of various economic successes recorded during his tenure.

These ‘unprecedented economic achievements’ included an increase in the country's foreign exchange reserves from $494 million in 1993 to $9.6 billion by the middle of 1997, and the reduction of Nigeria’s debt from $36 billion in 1993 to $27 billion in 1997. 

 

Abacha was also credited with ending all the controversial privatisation programs of the Babangida administration, reducing the inflation rate from 54 per cent to 8.5 per cent between 1993 and 1998, and it was during his tenure that oil averaged $9 per barrel.

Mr. Abacha's administration was also described as creating the most ‘comprehensive and realistic blueprint’ for Nigeria's development through the Vision 2010 committee chaired by his predecessor, Ernest Shonekan.   

However, many criticised the government’s award, stating that Abacha's regime was characterised by massive corruption, state-sponsored murder and assassination, and random imprisonment of persons seen as critical of government.

The government recently revealed that it spent the $500 million stolen money recovered from Abacha's accounts on rural development.