Naijahood
Former President Olusegun Obasanjo has expressed concern that the adverse effects of the crippling debt burden on Nigeria’s economy will be shouldered by future generations, leaving them with no choice but to bear the financial consequences.
He conveyed this message through a statement released on Wednesday by his Media Aide, Kehinde Akinyemi, discussing the inept mishandling of the country’s resources, leading it into a detrimental debt spiral.
As per the statement, the seasoned statesman shared his thoughts during an interaction with the 2023 awardees of the Future Africa Leaders Foundation—an initiative led by Pastor Chris Oyakhilome of the Christ Embassy Church.
During his presidency in 2003, Obasanjo successfully obtained debt relief for Nigeria, mirroring the actions of his Algerian counterpart during the same period. Nevertheless, he emphasized that due to the careless and mismanagement of the previous debts forgiven, securing a similar relief in the continent would now be an exceedingly challenging task for any administration.
He asserted that debts function as a snare, cautioning against individuals or nations falling into it as it becomes a burden on any economy.
The former President disclosed that leadership was the number one problem facing the continent.
He said
“the coming generations will have no choice but pay the current debt being incurred by different countries in the continent.”
Highlighting the qualities a leader during the questions and anwers session, Obasanjo said, “a leader should be able to set good examples, being bold and courageous when making decisions, accepting mistakes and learning from them as well as having a realistic dream
He hailed Pastor Oyakhilome for the efforts being put into building leaders, adding that the nation needed more people like him to address the leadership deficit facing the continent.
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