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

In office 1993-08-26 to 1993-11-17 · scored years: none. How we score · Public review

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)

Calendar-year data for context only. No score is given.
YearCPI inflationGDP growthOfficial rate (₦ per $)Oil ($/bbl)
199357.17%-2.04%22.0716.97

Calendar-year data shown for context only; these years are shared with (and scored for) neighbouring governments where they held 183+ days.

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)
  1. 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) (2026)
  2. WDI_CPI_1960 World Bank WDI API, FP.CPI.TOTL.ZG, Nigeria, 1960-2025 (last updated 2026-07-13) (2026-07-13) live pull saved 2026-10-02
  3. 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) (2026-07-13) live pull saved 2026-10-02
  4. WDI_GDP_1960 World Bank WDI API, NY.GDP.MKTP.KD.ZG, Nigeria, 1961-2025 (last updated 2026-07-13) (2026-07-13) live pull saved 2026-10-02
  5. newswatch93 Newswatch, 7 Jun 1993 (Aluko on subsidy; archive.org n3)
  6. nn931111 New Nigerian, 11 Nov 1993, p.1 (Senate protests fuel increase; OCR)
  7. vanguard_fuel Vanguard, 'Timeline of fuel price increments', 26 Dec 2017