Former Nigerian President, Olusegun Obasanjo, recently addressed the harsh reality that the upcoming generation of Africans will inevitably face a substantial debt burden on the continent.
Obasanjo, known for securing debt relief for Nigeria during his presidency in 2003, revealed this insight during an interaction with the 2023 awardees of the Future Africa Leaders Foundation. The foundation, led by Pastor Chris Oyakhilome, focuses on nurturing future leaders.
During his tenure, Obasanjo successfully obtained debt relief for Nigeria, a feat mirrored by his Algerian counterpart at the time. However, the former president expressed concern about the challenges associated with replicating such debt-relief achievements, citing past mismanagement of forgiven debts as a hindrance.
Obasanjo emphasized the trap that debts represent, cautioning that they impose a significant burden on any economy. He stated, “The coming generations will have no choice but to pay the current debt being incurred by different countries in the continent.”
Identifying leadership as the primary challenge facing the continent, Obasanjo commended Pastor Oyakhilome for his efforts in developing leaders. He stressed the need for more individuals like him to address the leadership challenges confronting Africa.
During the questions and answers session, Obasanjo outlined the qualities of a leader, emphasizing the importance of setting good examples, demonstrating boldness and courage in decision-making, accepting mistakes, learning from them, and having a realistic vision. As African nations grapple with mounting debts, Obasanjo’s insights underscore the urgency for effective leadership in navigating these challenges for the next generation.
