Coming Generations Will Have No Choice But To Pay Africa’s Debts – Obasanjo

Former Nigerian President, Olusegun Obasanjo has revealed that the upcoming generation of Africans has no alternative but to grapple with the substantial debt burden on the continent.

Notably, Obasanjo, during his tenure as Nigeria’s president in 2003, successfully obtained debt relief for the country, a feat similarly achieved by his counterpart from Algeria during that period.

In a statement from his Special Assistant on Media, Kehinde Akinyemi, on Wednesday, Obasanjo shared this information during an interaction with the 2023 awardees of the Future Africa Leaders Foundation, an initiative led by Pastor Chris Oyakhilome.

He pointed out that considering the past mismanagement of the previously forgiven debts for the country, it would be extremely challenging for any administration to replicate such debt-relief gestures on the continent.

Obasanjo asserted that debts represent a trap that individuals or nations should avoid, as they pose a significant burden for any economy.

The former president, who asserted that leadership was the number one problem facing the continent, said, “The coming generations will have no choice but to pay the current debt being incurred by different countries in the continent.”

He praised Pastor Oyakhilome for his dedicated efforts in developing leaders, stating that the nation requires more individuals like him to tackle the leadership challenges confronting the continent.

Obasanjo highlighted the qualities of a leader during the questions and answers session: “A leader should be able to set good examples, be bold and courageous when making decisions, accept mistakes and learn from them, and have a realistic dream.”