But the former military ruler added that saying so to “some people in this country, somebody will cut your head off”.
He said this while speaking with Arise TV on Friday.
Babangida said the current model of the Nigerian economy operates with “much control”, adding that it should be opened further.
“I believe you should give people more control over their affairs, over their resources,” he said.
“There is too much control in the way the economy is being run. We should open it further. If we do that, I think we will go far.”
“But mention it to some people in this country, but mention it to a lot of people in this country and somebody will cut off your head.”
The former head of state also said local governments should have some level of autonomy.
