Debt Pardon For African Nations ‘Impossible’ – Obasanjo

Former President Olusegun Obasanjo yesterday declared that due to the mismanagement of resources by African leaders after the forgiveness of previous debts, it will be almost impossible for them to get a similar reprieve.

Obasanjo made this disclosure at an engagement with the year 2023 award winners of Future Africa Leaders Foundation, an initiative and pet project of the president of Loveworld Incorporated, also known as the Christ Embassy Church, Pastor Chris Oyakhilome.

Speaking against the backdrop of his administration’s efforts at securing debt relief for Nigeria in 2003 alongside his counterpart from Algeria, Obasanjo disclosed that there was no option for the next generations of Africans to relieve the continent from its huge debts.

The former president explained that the debts were a trap that no individual or nation should fall into as it constitutes an albatross on any economy.

While asserting that leadership was the number one problem facing the continent, Obasanjo said “the coming generations will have no choice but pay the current debt being incurred by different countries in the continent.”

He commended Pastor Oyakhilome for the efforts put into building leaders, adding that the nation needs more people like him to address the leadership crisis facing the continent.

Highlighting the qualities of a leader during the questions and answers session, Obasanjo said, “A leader should be able to set good examples, being bold and courageous when making decisions, accepting mistakes and learning from them as well as having a realistic dream.”