Politics
Obasanjo Asserts He Improved Nigeria During His Tenure
Obasanjo Asserts He Improved Nigeria During His Tenure
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Former President Olusegun Obasanjo has stated that his administration was one of the best Nigeria has experienced.
Speaking in Abeokuta on June 18 at the Safe Online Youth Fellowship Bootcamp organized by NerdzFactory Company and supported by Meta, held at the Youth Development Centre, Olusegun Obasanjo Presidential Library (OOPL), Obasanjo highlighted the significant achievements of his tenure from 1999 to 2007.
He emphasized his role in liberating Nigeria from substantial debt, expressing pride in the country’s 25 years of uninterrupted democracy that began during his tenure in 1999.
“When I assumed office as elected President, my goal was to secure debt relief because we were spending $3.5 billion annually on debt servicing without reducing the principal amount. Today, I can confidently say that I improved Nigeria economically,” Obasanjo said.
“I inherited $3.7 billion in reserves while we were spending $3.5 billion on debt servicing. By the time I left, we had secured debt relief, reducing our debt from about $36 billion to $3.6 billion. Additionally, I left a reserve of over $50 billion and accumulated excess crude savings of over $25 billion,” he added.
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