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Why Sani Abacha Is A Saint Compared To Our Current Politicians

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Why Sani Abacha Is A Saint Compared To Our Current Politicians

Why Sani Abacha Is A Saint Compared To Our Current Politicians

Written By Paul Tosin ©

Late Gen. Sani Abacha, the formal Nigeria head of state that rule the country in the year 1993 to 1998.

His regime was accused of human rights abuses, especially after the hanging of Ogoni activist Ken Saro-Wiwa and others, so as the current administration as well.

Many people detest Sani Abacha because he looted so much from what belong to the whole nation,
but he never allow his cabinets to do the same, his regime was completely dictatorship but in term of economic growth, value of naira, less price on every commodities, less unemployment rate, managing external debt and increases foreign exchange reserve his administration better off.
A country that has no efficacy and competency leaders to drive the citizens to their promise land, This is how Nigeria prevailing problem started
In Nigeria, the public debts have not yielded its desired result due to corruption and fiscal indiscipline.

This resulted in the non-sustainability of the country’s public debt and depletion of external reserve by government to finance persistent deficit budget which further compound the level of jobless economic growth in the country.

What’s the differences between the military administrations and so called present Nigeria democracy, a brutality and inhumanity that promote injustice and embrace infidelity among her leaders, the administration that provide conducive environment for leaders to loot and embezzle the country treasures.

Available data shows Nigeria’s external debt levels of $27 billion is now about 75% of external reserves of $35 billion
During Gen Sani Abacha administration saw Nigeria foreign exchange reserve rose from 494 million in 1993 to $9.6 billion by the middle of 1997 while the country external debt of $30billion in 1993 was maintained and fall to $28billion in 1997.

Why Sani Abacha Is A Saint Compared To Our Current Politicians

Gen. Olusegun Obasanjo came in to meet our foreign exchange reserve at the most annoying level of 5.6billion in 1999 and the external debt of $29billion, obasanjo might have done so good by clearing the country external debt and increases Nigeria foreign exchange reserve.

But during his 8years spent he ensure the country external debt drastically reduce to $12billion in 2007 and the country foreign exchange reserve rose to $54billion in 2008.

In 20015 Nigeria external debt stock rose to $28billion under the current administration of Buhari and the country foreign exchange reserve decline to $29billion which is the most ever annoying drop down of Nigeria foreign exchange reserve.

Nigeria foreign exchange reserve sink to $40billion the lowest reserve compare to her external debt stock while the country debt profile rises to $68.74billion in the first quarter of 2019.

Nigeria’s debt profile rose by 2.3% to $68.74 billion (N24. 947 trillion) as at March 2019.
The country external debt stock is above the foreign exchange reserve by economically implication the government is running the country economic activities on deficit which possibly in turn to side effect.
The first implication implies that if the external debt stock is basically used for investment such as infrastructures, buildings, constructions any many other social amenities, then there is hope for the new generation coming.

The second effect is economically know has ‘dead weight loss’ which mean if the external debts are being use for under productive manners such as recurrent expenditure, looting and incurring under non productive investment, which the coming generation will never benefit from and will never escape from it when it become external burden debt.

It is very certain that the country foreign exchange reserved is of no useful because it is value depreciate in dollars also the crude oil reserve its price clash every year at the world international market.

Written By Paul Tosin For Naijalikeplay Media

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Why Sani Abacha Is A Saint Compared To Our Current Politicians

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