Ernest Shonekan

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Ernest Shonekan

Ernest Adegunle Oladeinde Shonekan (born May 9, 1936 in Lagos ) is a Nigerian politician, lawyer and industrialist.

Ernest Shonekan was executive director of the United African Company of Nigeria when he was installed as president of the transitional government on August 26, 1993 with British support from the resigning President Ibrahim Babangida . Because he ended government subsidies for oil production on November 8, 1993, under pressure from falling international oil prices , inflation rose sharply under Ernest Shonekan, leading to street protests.

On November 17, 1993, after just under three months, he was overthrown by the so-called Lagos Group under the leadership of the then Vice President Sani Abacha . Shonekan had never gained control of the military during his controversial tenure . As defense minister, Abacha was Shonekan’s designated successor.

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