Former President Olusegun Obasanjo raised concerns on Wednesday about Nigeria’s escalating debt burden, attributing it to mismanagement by previous administrations.
Speaking during an engagement with 2023 awardees of the Future Africa Leaders Foundation, Obasanjo highlighted the consequences, stating that future generations would be compelled to bear the brunt of the financial obligations.
In a statement by his Media Aide, Kehinde Akinyemi, Obasanjo expressed regret over the mismanagement of debts that had previously been written off, making it unlikely for Nigeria to secure a similar debt relief in the future.
The former President, known for securing debt relief in 2003 during his tenure, emphasized that accumulating debt poses a significant threat to any economy, urging against falling into such a financial trap.
Obasanjo, addressing the leadership crisis facing the continent, declared that mismanagement was the primary challenge
. He commended Pastor Chris Oyakhilome, founder of the Future Africa Leaders Foundation, for his efforts in developing leaders and suggested that more individuals like him were needed to address the leadership crisis in Africa.
During a question and answer session, Obasanjo outlined key qualities of a leader, emphasizing the importance of setting good examples, bold decision-making, admitting mistakes, and learning from them, as well as having realistic aspirations.
In a separate event, Obasanjo expressed optimism about Nigeria’s socio-economic situation improving in the next four years or thereabout through prayers and thanksgiving.
Speaking at the Christian Association of Nigeria (CAN) Ogun State 5th thanksgiving service, Obasanjo acknowledged the challenging times but emphasized the need for gratitude, stating that despite the difficulties, Nigeria might witness positive changes in the near future.
The former President thanked the congregation for their continuous prayers for the country and attributed the nation’s endurance to divine mercy and grace. He encouraged a spirit of thanksgiving in all situations, emphasizing the importance of acknowledging and appreciating the blessings received.
