Obasanjo pin points main reasons for Africa’s debt crisis

Former President Olusegun Obasanjo has attributed Africa’s staggering debt crisis to recklessness and corruption, calling for greater accountability from the continent’s leaders.

Speaking during an interaction with young people under the Future Africa Leaders Foundation at his residence on Friday, Obasanjo did not hold back in his critique.

“Some of the debts by African countries were due to recklessness and outright corruption,” Obasanjo said, responding to a question on Africa’s growing debt challenges.

His statement, released by his media aide Kehinde Akinyemi, emphasized the need for more disciplined leadership to prevent further economic setbacks.

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Reflecting on his own journey, Obasanjo recounted how his refusal to remain silent on pressing national and international issues landed him in prison during General Sani Abacha’s regime in 1995.

“Going into prison was a challenge because I refused to keep quiet,” he shared. “For me, if there is anything to comment on, I did comment on them, and so, I landed in prison.”

The former president also spoke about his unexpected return to political leadership after Nigeria’s tumultuous period of military rule. Following his release from prison, he faced pressure to take on the presidency in 1999, a decision he described as a response to Nigeria’s dire state at the time.

“I had finished my career in the military at the age of 42 and embraced farming,” Obasanjo explained. “But when I came out of prison, the situation in the country was so bad that people felt something had to be done. That’s how I found myself back in the center of it all.”

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