Watch The Kind Of Help You Ask For’ – Obasanjo Issues Stark Warning On Foreign Aid

Former President Olusegun Obasanjo has urged African leaders to be cautious when seeking foreign assistance, warning that certain forms of aid can undermine a country’s economic independence and limit its development options.....KINDLY READ THE FULL STORY HERE▶

Obasanjo gave the warning on Wednesday during the public presentation of The Ibru Story: An Account of a Pioneering Nigerian Business Family, a biography celebrating the life and business achievements of the late businessman, Michael Ibru. The event took place at the MUSON Centre in Onikan, Lagos.

Reflecting on Nigeria’s support for Angola under the late President Agostinho Neto, Obasanjo recounted how Michael Ibru had encouraged him to pursue investment opportunities in Angola’s fishing industry after Nigeria extended $20 million in assistance to the country.

According to Obasanjo, Neto later revealed that Angola’s close ties with the Soviet Union had effectively prevented other foreign investors from participating in the sector.

“The Soviets are advising us, and they are exploiting their fish. If they are the ones exploiting the fish and they are also the ones advising, where is the chance for anybody else to come in?” Obasanjo quoted Neto as saying.

Using the experience as an example, the former president cautioned African countries to carefully consider the implications of the assistance they receive.

“When you are asking for help, you must watch the type of help you seek and the type of help you get. Angola got help from the Soviet Union, but it was the help that choked Angola in the throat. Angola had no chance to do anything with anybody else,” he said.

Obasanjo also spoke about Michael Ibru’s leadership style, recalling the late industrialist’s advice against micromanaging organisations and stressing the importance of empowering capable people.

He praised Ibru’s legacy of discipline, resilience, and commitment to family unity, urging members of the Ibru family to preserve those values for future generations.

“This family must be held together at all costs. We should never be tired of bringing everybody together. That will be a good legacy,” Obasanjo said.