Agenda for a Reformer

The President rises at 5:30 every morning to pray. By 8 a.m. he is reviewing a stack of correspondence at his desk in the spartan Dodan Barracks in Lagos, where he lives and works. Outside, two armored cars and two tanks evince the might of the Nigerian military. They are also reminders of the dangers that the country's youthful President, Major General Ibrahim Badamasi Babangida, faces as he goes about reshaping Nigeria's corrupt and debt-ridden society. The President recently granted a 50-minute interview to TIME Correspondent James Wilde. Throughout, he displayed a ready smile and a penchant for easy laughter. Excerpts:

On the stability of his government: I do not think that the government is fragile. Most important of all is the backing the government enjoys from the people, and the loyalty of the preponderance of the military. I am not saying that there are not people who are disgruntled, but the loyalty of the armed forces is not in doubt.

$ On refusing an IMF loan: A lot of suggestions that were advanced by the IMF may tally with the way we think. As to international credit, we do need it, but I believe strongly that given our budget, our creditors and the international community should be able to see that we are making a concerted effort to repay our debt.

When we announced that we were going to peg our debt-servicing repayments to 30% of foreign exchange earnings, many people got the wrong idea and interpreted this as a repudiation of our debt. We have not changed our minds. All debts which have been incurred will be honored. I would like our creditors and friends to see us as a country that has been able to identify (and) solve its economic and social problems through our own efforts, at our own pace and at our own volition.

On Nigeria's political system: All the political formulas we tried in the past did not meet the aspirations of the people. Somewhere along the line so many things went wrong. We tried parliamentary, presidential and military systems of government. These, perhaps, are not the best for this country. Learning from our failures, I believe strongly that we should start looking now at what sort of political system will meet all the aspirations of the people.

On relations with the U.S.: I want a good and close relationship with the United States. We have a lot in common. Nigeria is the most important political country on this continent and we have an important role to play in this context. I think that if the U.S. and Nigeria could work together, we could achieve a lot within the continent of Africa.

On his role as President: I'm here to provide service to the nation. I look forward to the day that the armed forces and I will disengage and the whole system (of government) will be transferred into some kind of political arrangement--a people-oriented political system that everybody understands. We have said that there will be less government in the economic sector . . . What government should do is to create an environment for economic growth.

We want to leave behind a legacy of political stability in the country. I want to see Nigeria, in the next 20 years, a better place than it was 25 years ago. We will continue to have an important role within the continent of Africa. We want to live in harmony with our neighbors.