INTRODUCTION

It is indeed a privilege to have the opportunity to personally present to the nation The Economic Report and Statement of Account for 1985 – 1993, the period during which I served as a President, Commander-in-Chief of the Federal Republic of Nigeria, and therefore as Chief Executive Officer of the Federal Government. The interval of some twenty-eight years since our departure has certainly banished any lure of ‘instant history’, with all its pitfall for self-serving historicizing; it has also promoted reflection, insight and appreciation of the past.

Our period of interest, like all historical events, cannot be really understood in isolation. Correct understanding of the occurrences in a period – including the policies, actions, processes, statistical aggregates, which themselves are the results of processes – requires that the period be placed in an appropriate historical context of time and internal and global environment realities. Such an approach enhances our appreciation of possible errors, omissions, criticisms, alternative approaches to issues and validly held beliefs and actions. In short, placing our period in its proper context enhances historical understanding and strengthens us. From this perspective, I sincerely want to thank both our cooperators and our critics. In particular, I recognize that our many cooperators from both the public and private sectors labored day and night under trying conditions on behalf of our program in order to advance the nation. I now briefly indicate the highlights of the context.