Concept:The Armed Forces Ruling Council was the highest body that exercised legislative functions during the Babangida regime.
Explanation:General Ibrahim Babangida came to power in August 1985.
He dissolved the Supreme Military Council, which had been the highest decision-making body under earlier military governments.
In its place, he established the Armed Forces Ruling Council (AFRC).
The AFRC became the supreme organ of the Federal Government in his administration.
It carried out legislative duties by issuing military decrees that had the force of law.
The Council of Ministers served as the executive branch and only implemented decisions.
The National Council of State acted mainly as an advisory body, not as the legislature.
Therefore, the highest institution performing legislative functions was the Armed Forces Ruling Council.
Answer:C. Armed Forces Ruling Council