Former Nigerian President Olusegun Obasanjo has cautioned that the colossal debt burden of African countries will cast a long shadow on the next generation.
During an engagement with the 2023 awardees of the Future Africa Leaders Foundation, Obasanjo expressed deep concern over the continent's mismanagement of previous debts, emphasizing that securing similar debt relief in the future would be a formidable challenge.
The ex-president emphasized that falling into the debt trap is detrimental to any economy, declaring it an inescapable reality for the coming generations. Commending Pastor Chris Oyakhilome for fostering leadership development, Obasanjo identified leadership as the continent's foremost challenge.
In a related context, Obasanjo offered a glimpse of hope, asserting that with prayers and thanksgiving, Nigeria's socio-economic situation could potentially improve in the next four years.
