Babangida justifies $12.4bn Gulf oil windfall mismanagement despite Okigbo report

Former military President, Gen Ibrahim Babangida, says Nigeria failed to maximise its oil boom years due to what he described as a nationwide “profligacy” and “conspicuous consumption” that undermined the economy’s long-term development. He also justified the spending of the $12.4bn oil windfall by his government. “What I have done is not unusual in this

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