Former Nigerian President Olusegun Obasanjo has raised concerns about the impending debt burden that the next generation of African countries is poised to face. Obasanjo articulated these worries during a session with the 2023 awardees of the Future Africa Leaders Foundation, an initiative led by Pastor Chris Oyakhilome.
In a statement released by his Special Assistant on Media, Kehinde Akinyemi, Obasanjo emphasized that the continent’s colossal debt profile, exacerbated by mismanagement of previous debts, would pose a significant challenge. The former president, drawing attention to the debt trap, warned against falling into it, asserting that it acts as an economic albatross.
According to Obasanjo, the debt-related issues forgiven for some African countries, including Nigeria, would be challenging to replicate due to mismanagement concerns. He stressed that the responsibility of repaying current debts would fall on the coming generations, characterizing the debt scenario as an inescapable burden on any economy.
Obasanjo commended Pastor Oyakhilome for his efforts in cultivating future leaders and addressing the prevailing leadership crisis in Africa. He underscored the need for more individuals like the pastor to contribute to leadership development.
During a question-and-answer session, Obasanjo outlined essential qualities of a leader, emphasizing the importance of setting good examples, making bold and courageous decisions, acknowledging mistakes, and learning from them, along with having realistic aspirations.
In a related development, Obasanjo, at the Christian Association of Nigeria (CAN) Ogun State 5th Thanksgiving service, expressed optimism that the country’s socio-economic situation could improve in the next four years or beyond through prayers and thanksgiving. He acknowledged the current challenges but attributed the nation’s survival to divine mercy, encouraging gratitude for the blessings of free air and hopeful prospects for a better future.
