Former Nigerian President Olusegun Obasanjo has raised concerns about the country’s escalating debt, attributing it to financial mismanagement by previous administrations. In a statement released by his media aide, Kehinde Akinyemi, Obasanjo expressed these views during a meeting with the 2023 awardees of the Future Africa Leaders Foundation, an initiative of Pastor Chris Oyakhilome.

Obasanjo, who played a key role in securing debt relief for Nigeria in 2003, lamented the mismanagement of previous debts written off for the country. He warned that such mismanagement makes it nearly impossible for Nigeria to receive similar relief again. The former president described the debt as a trap that could hinder economic progress.

According to a report by The Sun, he emphasized that leadership is a critical issue facing Africa, stating, “The coming generations will have no choice but to pay the current debt incurred by different countries on the continent.”

During a Q&A session, Obasanjo highlighted the qualities of effective leadership, including setting good examples, bold decision-making, learning from mistakes, and having realistic dreams. He praised Pastor Oyakhilome for his efforts in building leaders and stressed the need for more individuals like him to tackle Africa’s leadership crisis.

In a separate event at the Christian Association of Nigeria (CAN) Ogun State’s 5th Thanksgiving Service, Obasanjo expressed optimism about Nigeria’s socio-economic future. He suggested that the nation could see improvements within the next four years with prayers and thanksgiving.

Obasanjo’s comments come at a time when Nigeria grapples with economic challenges and leadership issues. His observations underscore the need for prudent financial management and strong leadership to navigate the country towards a more stable and prosperous future.