Former President Olusegun Obasanjo warned Nigeria’s future is saddled by debt, blaming previous governments for years of mismanagement.
“The coming generations will have no choice but pay the current debt being incurred,” Obasanjo stated in a statement.
Obasanjo regretted the missed potential of prior debt relief, won during his own administration in 2003, at a forum for young leaders on Wednesday.
“With the level of mismanagement,” he stated, “it would be almost impossible for any administration to get a similar gesture in the continent.”
He compared debt to a perilous trap, an “albatross on any economy,” and advised responsible leaders to steer clear of it. “Leadership is the number one problem facing the continent,” he stated, emphasising the need for a new generation of responsible stewards.
Pastor Chris Oyakhilome‘s Future Africa Leaders Foundation hosted the event. Obasanjo praised Oyakhilome for her endeavour to develop ethical leaders.
During a Q&A session, Obasanjo described the attributes necessary for effective leadership, including setting an example, making bold decisions with bravery, admitting mistakes and learning from them, and cultivating realistic ambitions.
