By Abayomi Aiyepola
“The world is full of men who want to be right, when actually the secret of successful leadership is knowing when to be wrong.” — Socrates.
Prologue: The Smiling Serpent and the House of Mirrors
Some leaders rule with an iron fist, making no pretenses about their tyranny. You may not like them, but at least you know where they stand. Others, however, are masters of deception, weaving a web of lies so intricate that even they begin to believe it. Babangida is of the latter breed—the kind of leader who would burn down a house and then return as the firefighter, grinning as he douses the flames he himself set.
Reading A Journey in Service felt like walking through a hall of mirrors, where nothing is quite as it seems. Each chapter attempts to reshape history, twisting failures into “misunderstood decisions,” betrayals into “hard choices,” and corruption into “strategic governance.”
But history is not so easily manipulated. This is my response, an autopsy of deception, a dissection of half-truths, and a journey into the very soul of Nigeria’s lost years.
- Babangida’s “Economic Reforms”—The Grand Betrayal
“Our vision was to transform Nigeria into an economically self-reliant nation, free from dependency on oil revenue. The Structural Adjustment Program (SAP) was our tool for economic emancipation.” (A Journey in Service, p. 151, para. 3)
I read this sentence twice, stunned at the audacity of the lie. SAP was not emancipation, it was enslavement.
This reminds me of a merchant in a medieval market, selling poison as medicine. The sick man buys it, desperate for a cure, only to find his condition worsening. “You need a stronger dose,” the merchant says, selling him even more. Soon, the man is too weak to protest.
That, in essence, was IBB’s economic policy.
The Backstory: The IMF’s Poisonous Embrace
In 1986, Nigeria was at a crossroads. The global oil price crash had gutted the economy, and Babangida turned to the International Monetary Fund (IMF) like a desperate gambler borrowing money from a loan shark. The IMF gave him conditions:
Devalue the naira (from ₦1 to $1 in 1986 → ₦9 to $1 by 1993).
Deregulate the economy, giving way for government-connected businessmen to thrive while industries collapsed.
Remove subsidies—skyrocketing the cost of food, transport, and essential goods.
Babangida agreed.
SAP was a Trojan Horse, disguised as “economic reform,” but inside it lay hunger, unemployment, and the death of the Nigerian middle class.
The Devastation: Voices from the Ashes
Babangida boasts in his book that SAP empowered the private sector, yet I remember the faces of those it crushed:
“Before SAP, my father could afford to buy us milk. After SAP, he couldn’t even afford rice.” — Akin Ojo, Lagos, 1989.
“We were told to endure ‘temporary hardship’ for a better future. Thirty years later, we are still in hardship.” — Hassan Bello, Kaduna, 2016.
If SAP was so beneficial, why did it result in more poverty, not less? If it was “homegrown,” why were its terms dictated by the IMF?
History offers contrasting examples. In the same period, Lee Kuan Yew of Singapore and Mahathir Mohamad of Malaysia pursued state-driven economic reforms, investing in local industries and education. Their countries flourished.
Babangida, on the other hand, handed Nigeria’s economic soul to foreign interests while smiling at the suffering he inflicted. This was not a leader—it was a magician, making prosperity vanish before our eyes.
- The June 12 Election Annulment—A Crime Against Democracy
“The annulment of the June 12 election was a decision taken by forces beyond my control. I was caught between a rock and a hard place.” (A Journey in Service, p. 261, para. 2)
Reading this, I felt a surge of anger. IBB plays the victim in his own crime.
This reminds me of a thief who robs a man in daylight, then later joins the search party looking for the stolen goods.
The Election That Could Have Changed Nigeria
On June 12, 1993, Nigerians cast their votes in what was widely regarded as the freest and fairest election in the country’s history. Moshood Kashimawo Abiola (MKO) of the Social Democratic Party (SDP) won against Bashir Tofa of the National Republican Convention (NRC).
Election observers, including the EU, Commonwealth, and African Union—praised the election. The Nigerian people had spoken.
But Babangida silenced them.
The Power Play: How IBB Betrayed Nigeria
IBB did not annul the election because he was “powerless.” He annulled it because:
MKO was too independent and wealthy to be controlled.
The military feared losing its grip on power.
Northern oligarchs saw Abiola’s presidency as a threat.
I recall the chaos that followed: protests, crackdowns, and eventually, the brutal dictatorship of Sani Abacha. IBB opened the gates to hell, then stepped aside to let the devil walk in.
Contrast this with Nelson Mandela, who, after 27 years in prison, forgave his oppressors and united South Africa. IBB could have been Nigeria’s Mandela—but he chose to be its Judas.
- The “Evil Genius” Persona—Cowardice in Disguise
“I have been called the Evil Genius. If being a genius means making tough decisions, then I embrace it.” (A Journey in Service, p. 203, para. 5)
This reminds me of a man who sets fire to a village and then calls himself a hero for trying to put it out.
IBB was not a genius—he was a coward who ruled through deception.
June 12? “It wasn’t me.”
Economic collapse? “It was beyond my control.”
Rise of political corruption? “It was part of the democratic process.”
A true “genius” takes responsibility. Julius Caesar faced his enemies with courage. IBB fled from power in 1993, leaving Nigeria in political disarray.
- The Rise of Nigerian Industrialists—Government Patronage, Not Entrepreneurship “Our administration empowered private sector leaders like Dangote, Rabiu, and Danjuma, strengthening Nigeria’s industrial base.” (A Journey in Service, p. 181, para. 4)
IBB wants us to believe that these billionaires built their wealth through competition.
This reminds me of a race where some runners are given a 100-meter head start while others are shackled.
Government contracts, import licenses, and political connections built these industries, not free-market competition.
Conclusion: A Nation Gaslighted
IBB’s book is not a memoir, it is an attempt to manipulate history.
Through lies, omissions, and distortions, he tries to rewrite the past. But truth is stubborn. The Nigerian people remember.
Stay Tuned for Review 2: “A Tyrant’s Library”
Where I will unveil the 17 billion naira hypocrisy and why Babangida failed where other autocrats succeeded.
Abayomi Aiyepola writes from Abeokuta, Nigeria.
