1993 · Civilian (appointed, unelected)
Ernest Shonekan (Interim National Government)
A caretaker government tried the toughest fuel price rise on record, and lost the argument within weeks.
Scorecard
Too short to score
Too short to score
Fewer than two scored calendar years under the 183-day rule (§3): 0 scored year(s) (none). No outcome, credibility, reforms or composite score is given.
- Finance ministers
- Aminu Saleh (1993)
- CBN governors
- Abdulkadir Ahmed (to 30 Sep 1993); Paul Ogwuma (from 1 Oct 1993)
- Signature move
- The biggest single petrol price jump on record: 70k to N5 a litre (8 Nov 1993).
- Oil price context
- About $17 a barrel in 1993 (nominal).
Key actions
- 7 Jun 1993 The subsidy debate in Newswatch; Sam Aluko argues that yam sellers "too are subsidising the local consumers" (earlier, under Babangida). [newswatch93]
- 8 Nov 1993 Petrol 70k to N5. [vanguard_fuel]
- 11 Nov 1993 Senate protest. [nn931111]
- 17 Nov 1993 Removed by Abacha. [vanguard_fuel]
Context data (not scored)
| Year | CPI inflation | GDP growth | Official rate (₦ per $) | Oil ($/bbl) |
|---|---|---|---|---|
| 1993 | 57.17% | -2.04% | 22.07 | 16.97 |
No score to challenge. This government held office too briefly to be scored, so it has no score of any kind. Spotted an error in the facts on this card? Email [email protected] with your source. How public review works
Sources for this card (7)
- EI_OIL Energy Institute Statistical Review of World Energy 2026 via Our World in Data, annual crude price (nominal US$/m3; divided by 6.2898 to get US$/bbl)
- WDI_CPI_1960 World Bank WDI API, FP.CPI.TOTL.ZG, Nigeria, 1960-2025 (last updated 2026-07-13)
- WDI_FX_1960 World Bank WDI API, PA.NUS.FCRF (official exchange rate, LCU per US$, period average; pre-1973 values in naira-equivalent units), Nigeria, 1960-2025 (last updated 2026-07-13)
- WDI_GDP_1960 World Bank WDI API, NY.GDP.MKTP.KD.ZG, Nigeria, 1961-2025 (last updated 2026-07-13)
- newswatch93 Newswatch, 7 Jun 1993 (Aluko on subsidy; archive.org n3)
- nn931111 New Nigerian, 11 Nov 1993, p.1 (Senate protests fuel increase; OCR)
- vanguard_fuel Vanguard, 'Timeline of fuel price increments', 26 Dec 2017