Babangida, fondly called IBB, who spoke to Kano Radio Freedom, said during his time oil sold for $18 per barrel yet his administration was able to carry out several projects that impacted on the lives of Nigerians.
"But surprisingly, from 1999 to date, the money Nigeria has generated is far bigger than ours. Mind you, at a time, oil was sold at $100 per barrel and even above. Even with that, we have nothing to show for that money. Government has completely failed to impact on the lives of its citizens," he said.
He said in the past he had not devoted much effort and energy into his presidential ambition, stressing that this time around, he would do everything possible to return to Aso Villa.
Again, IBB said he never mismanaged the $12 billion oil wind fall, saying the amount was what was generated from the six years his administration lasted, but that only $2 billion was realised from the oil windfall.
He said: "When there were lots of pressure on what to do with the money we decided to establishe a committee that will advise us on what to do and we acted on their recommendations saving some and carrying out huge projects. Even when the late Sani Abacha government came, he created a committee to restructure the Central Bank of Nigeria (CBN), which was even misunderstood by some people to be a mission to probe my government. The records are there to speak for themselves, and anybody that is not satisfied should carry out his own investigation, but certainly we are clean."
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Babangida said the burden of the annulment of June 12, election still remains on him, because as leader, he did what he was supposed to do, and that he will never come out to explain exactly why he annulled the election: "if today I do that, some people will still come out and said look at this stupid man, after 17 years he is now telling Nigerians story, so I better remain silent on that action."
He said he withdraw from the 2007 Presidential race, "when I saw it was Umaru Yar'Adua who is my brother that was chosen and because I was convinced beyond reasonable doubt that the man was an achiever. I decided to give way for him. But that does not mean this time around I will do the same no way. I'm all out for the contest and God will certainly help me to go back to Aso Rock," he said.
Babangida said if given the chance to rule the country again with his experience, he will make Nigeria a safer place to live and a country worth being proud off. "That why I was among those who advised Yar'Adua to carry out the dredging of the River Niger, because I knew it will be of immense importance to the country."
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