“Secondly the American president then, Ronald Reagan, sent his friend, General Walters, to me saying we should accept the IMF programme. What was the IMF programme then? World Bank and IMF wanted us to remove the so-called petroleum subsidy, to devalue the naira, to remove the subsidy on flour, as they perceived it.
But what we knew was that in some of the states, workers were being owed nine months salaries. I was in Plateau state and I saw the so-called progressive governors crisscrossing this country almost every other month, making a lot of noise when the ordinary worker was not being paid. I told Walters we were not going to devalue the naira; we were not going to remove any subsidy. And if you recall by the time we were removed, one naira was equal to 1.2 or 1.5 dollars.
The naira was run down to N80 to a dollar by General Babangida’s regime. I refused to remove the so-called petroleum subsidy. I said I had been in the petroleum industry for three and a quarter years. I signed the contracts for Warri and Kaduna refineries. I signed the contract for more than 20 depots, from Makurdi to Ilorin to Gusau to Kano to Maiduguri.
And then pipes were laid over 3,200 kilometres. Nigeria didn’t borrow a kobo” – General Muhammadu Buhari of Nigeria in his recent interview with The Cable. #PoliticalAttackDogForBuhari