Former President Olusegun Obasanjo has described Nigeria’s rising debt profile as an important burden for each provide and year generations.
Talking right through a Zoom interactive programme tagged “Boiling Point Arena” on Sunday, Obasanjo expressed fear over the community’s emerging debt profile.
The PUNCH reported Nigeria’s debt had surged through N12.6tn in 3 months, achieving N134.3tn ($91.3bn) through the top of the second one quarter of 2024.
This marks a ten.35% build up from the N121.7tn recorded within the first quarter of the time.
Reflecting on his tenure, Obasanjo stated, “Yes, I was able to secure debt forgiveness for the nation before I left office, but our present debt profile is a problem for both this and the next generation.”
Regardless of those considerations, the previous President maintained optimism about Nigeria’s year, calling for transformative management and a powerful combat in opposition to corruption to strengthen the community’s trajectory.
Obasanjo cited South Korea and Singapore as examples of countries whose move used to be rooted in merit-based and integrity-driven management.
He famous that South Korea’s center of attention on appointing leaders in accordance with advantage and Singapore’s emphasis on integrity beneath former High Minister Lee Kuan Yew are fashions Nigeria can emulate.
“One of the simplest ways to combat corruption is from the supremacy. In South Korea, their leaders manufacture appointments in accordance with advantage, and that has grow to be the rustic’s legacy.
“When I took students from the Olusegun Obasanjo Leadership Institute to meet Lee Kuan Yew, he spoke to them about leadership grounded in trust and integrity. Leadership must be about service, not self-enrichment,” Obasanjo stated.
He additionally criticised those that view management as a way to non-public achieve, including that corruption in govt may simplest be eliminated through making a important collection of people dedicated to refusing illicit positive factors.
“The fight against corruption must be consistent. It’s not a one-regime affair. It must be a daily commitment. If one administration lets its guard down, corruption spreads like a hydra-headed monster,” he warned.
Obasanjo additional emphasized the desire for constitutional amendments to deal with Nigeria’s systemic demanding situations, pointing out that sustainable building and nationwide integrity hinge on transparency, duty, and divine goal.
“National progress is only achievable through consistency in action, leadership built on accountability, and the collective effort of leaders and citizens committed to a shared vision for the nation,” he stated.