Obasanjo: Debt Burden, A Trap Nigeria May Never Get Out Of

Former President Olusegun Obasanjo on Wednesday said the mismanagement of debt relief by the administrations of his successors has forced the country into a debt trap that it may never get out of.

Obasanjo also said, there was no option for the next generations of Africans to relieve the continent from her huge debt burden.

A statement by the Special Assistant to Obasanjo on Media, Kehinde Akinyemi indicated that the former President spoke during an engagement with 2023 awardees of the Future Africa Leaders Foundation, an initiative of Pastor Chris Oyakhilome.

It would be recalled that Obasanjo as the country’s President in 2003 secured debt relief for Nigeria likewise his counterpart from Algeria at the same period.

But Obasanjo said, that with the level of mismanagement of the previous debts written off for the country, it will be almost impossible for any administration to get a similar gesture in the continent.

Obasanjo declared that the debts were a trap that no individual or nation should fall into as it constitutes an albatross on any economy.

The former President who asserted that leadership was the number one problem facing the continent summed: “The coming generations will have no choice but to pay the current debt being incurred by different countries in the continent.”

He commended Pastor Oyakhilome for the efforts putting into building leaders adding that the nation needs more people like him to address the leadership crisis facing the continent.

Highlighting the qualities of a leader during the questions and answers session, Obasanjo said, “A leader should be able to set good examples, be bold and courageous when making decisions, accept mistakes and learn from them as well as have a realistic dream,” Obasanjo stated.

In a related development, the former Obasanjo has assured that the country’s socio-economic situation could be better in another four years or thereabout with prayers and thanksgiving.

He made this disclosure at the Christian Association of Nigeria (CAN) Ogun State 5th Thanksgiving service of his conferment as the Asiwaju Onigbagbo, Ogun State, held at the Olusegun Obasanjo Presidential Library (OOPL), Abeokuta on Tuesday.

In a release by his Special Assistant on Media, Kehinde Akinyemi, the former President said that it was a clear indication that the socio-economic situations of the country are not in good stead, “but, mercy has been with us and if that is so, why should we not thank God.

“Think about it. If you have breathed the free air of God, you should have cause to thank God. So, things are bad, they may be good in a space of what…Four years? and who knows for Nigeria, things that are bad today, maybe good tomorrow.

“That is our prayer and that is why we must never stop thanking God. In all situations, give thanks to God”, Obasanjo told the congregation even as he burst into a joyful song.

The former President thanked brothers and sisters in the vineyard of God for their continuous and persistent prayers for the country, restating that at times like this, “it is such a difficult time. And when they are talking of being in fellow of mercy, “mine is more than a Fellow of Mercy, mine is Fellow of Grace and Mercy of God, anyone that is not enjoying this should put up his hand. If that is so, why should we not thank God? He queried.

The governor, Prince Dapo Abiodun, represented by the deputy, Engr, Noimot Salako, former governor, Sen. Gbenga Daniel, the Oluwu of Owu Abeokuta, Prof. Saka Matemilola and the Odole Oduaa, business Mogul who is also the Otun of Asiwaju Onigbagbo Ogun State, Chief Adebutu Kessington and Rev. Mother Ester Ajayi eulogized Obasanjo, noting that he is not only a leader in Nigeria, but, also a global phenomenal.

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