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Obasanjo: Coming generations of Nigerians have huge debts to pay

Olusegun Obasanjo, former President of Nigeria, says the coming generations would have no option but to pay the country’s debt burden as a result of mismanagement by the previous administrations.

Olusegun Obasanjo, former President of Nigeria
Olusegun Obasanjo, former President of Nigeria

Olusegun Obasanjo, former President of Nigeria, says the coming generations would have no option but to pay the country’s debt burden as a result of mismanagement by the previous administrations.

A statement by his Media Aide, Kehinde Akinyemi, on Wednesday, said that the elder statesman spoke during an engagement with 2023 awardees of the “Future Africa Leaders Foundation”, an initiative established by Pastor Chris Oyakhilome.

Obasanjo who was Nigeria’s President between 1999 to 2007, secured debt relief for Nigeria.

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According to the former President, the level of mismanagement of the previous debts written off for the country, it would be almost impossible for any administration to get a similar gesture in the continent.

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

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

He commended Oyakhilome for the efforts being put into building leaders, adding that the nation needed 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.”

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