Nigeria’s former military Head of State, Ibrahim Babangida has said that the trade by barter system implemented by his predecessor, Muhammadu Buhari worsened the country’s economy.
In his autobiography, ‘A Journey in Service’, Babangida said there was public dissatisfaction with the Buhari’s regime.
Babangida had served as a Chief of Army Staff in the Buhari’s regime.
He, however, led the coup that ousted his predecessor and his deputy, Tunde Idiagbon from power in 1985.
According to Babangida, the worsening economic crisis made the coup inevitable.
“Like most military coups, our leadership change was informed by widespread disquiet among the civil populace.
“Ordinary people were experiencing severe economic hardship. The general economic and social conditions the people lived under were worsening by the day,” Babangida said.
He added that supplies and goods were scarce.
“Essential goods and supplies were scarce. Yet arbitrary controls in all aspects of economic life assnd an ancient resort to barter in international trade meant that the nation’s financial woes would not end soon,” he added.
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