Post by Inozemhe Jacob Azemobor (@GovernorDonjay)

As Petroleum Minister, he borrowed a ₦40,000 bank loan in the 1970s to build his house — that was Dr. Shettima Ali Monguno, Nigeria's first Minister of Petroleum, was appointed in 1972.

He took the loan to build his house in Maiduguri.

late Shettima Ali Monguno, PhD, was:

~ President of OPEC (1972–1973)

~ Minister of the Air Force (1965–1966)

~ Minister of Mines and Power

~ Minister of Petroleum and Energy (1972–1975)

~ Federal Commissioner for Trade (1967–1971)

~ Leader of the Nigerian delegation to UNCTAD II, New Delhi (1968)

~ Member of the Nigerian delegation to the United Nations for over 10 years

~ Pro-Chancellor, University of Calabar (1978–1980)

~ Pro-Chancellor, University of Nigeria (1980–1984)

~ Recipient of national honours from the Ethiopian Empire, the Republic of Egypt, Sudan, and Cameroon (1970)

~ Trustee, Girl Guides Association of Nigeria (1970–1990)

~ Deputy National Chairman, National Party of Nigeria (December 1980–1984)

~ Chairman, Maiduguri Metropolitan Council (1977–1978)

~ Member, Constituent Assembly (1977–1978)

~ Conferred with the national honour of Commander of the Order of the Federal Republic (CFR) in 1982

~ Director, Nigbel Bank Nigeria Ltd. (1988)

~ Chairman, Borno Education Endowment Fund (1986)
Yet, he died with only one house — a house he acquired through a ₦40,000 bank loan, which he repaid in instalments.

In 1974, when he wanted to build a house in Maiduguri, he applied for a ₦40,000 bank loan. The bank requested a guarantor. He approached his boss, General Yakubu Gowon, then Head of State and Commander-in-Chief, to stand as his guarantor.

General Gowon declined, explaining that it would amount to an abuse of office for him to facilitate such a loan.

Shettima then explored other options.

Julius Berger was already a well-established construction company at the time. He approached the company to build the house for him.

They agreed on one condition:
Julius Berger would finance and build the house, then rent it out until the ₦40,000 was fully recovered through deductions from his salary.
Shettima accepted the arrangement. That was how he built his modest bungalow in Maiduguri.

He was only able to achieve this through a BOOT (Build, Own, Operate and Transfer) arrangement with Julius Berger.

He attended Monguno Primary School, Teachers' College Bauchi, Teachers' College Katsina, the College of Arts, Science and Technology, Zaria, Moray House College of Education, and the University of Edinburgh.

He was also presented with the Keys to the Cities of New York City, Louisville (Kentucky, USA), Quito (Ecuador), and Lima (Peru).

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