Debt Is Worse Than Leprosy – Obasanjo Tackles Tinubu Over Borrowing

Former President Olusegun Obasanjo has criticized President Bola Tinubu over his position on borrowing.

The former Nigerian leader described the president’s defence of taking loans as absolute nonsense.

Naija News reports that Obasanjo spoke on Friday in Abeokuta, Ogun State at the Ajibosin Platform.

Obasanjo argued that borrowing was more dangerous than leprosy because its consequences could affect several generations.

The former president maintained that while leprosy affects an individual, the burden of debt could be passed from one generation to another.

He said: “And for anybody to say debt is no leprosy, is absolute nonsense. Debt is worse than leprosy. Because leprosy destroys only one person. Debt destroys generations.

“When I started my farm, 47 years ago, naira to the dollar was one naira to $1.85. Forty-seven years ago. What has Nigeria done in 47 years that we now have 1,500 naira to the dollar? What have we done?

“What do our leaders know? And what do they not know? And from what they know, what can they do for us?

“World Bank and IMF were not designed for us. They were not built by us. They were built before we became independent. And that’s the people who would determine what we do.”