Obasanjo Raises Alarm Over Nigeria’s Debt Crisis, Urges Immediate Action

Obasanjo Raises Alarm Over Nigeria’s Debt Crisis, Urges Immediate ActionFormer President Olusegun Obasanjo has expressed grave concern over Nigeria’s escalating debt, describing it as a critical issue that threatens both the current and future generations.....KINDLY READ THE FULL STORY HERE▶

Speaking during a recent Zoom interactive session titled Boiling Point Arena, Obasanjo highlighted the alarming rise in Nigeria’s debt, which surged by N12.6 trillion in just three months, reaching N134.3 trillion ($91.3 billion) by the end of Q2 2024. This represents a 10.35% increase from N121.7 trillion in the first quarter of the year.

Obasanjo acknowledged his role in securing debt forgiveness for Nigeria during his tenure but warned that the nation’s current debt load poses significant challenges for both present and future generations.

He also drew attention to the success stories of nations like South Korea and Singapore, emphasizing the importance of leadership based on merit and integrity. According to Obasanjo, the best way to combat corruption is through strong, principled leadership. “The best way to fight corruption is from the top,” he stated. “In South Korea, their leaders make appointments based on merit, and that has become the country’s legacy.”

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