Obasanjo Critiques Tinubu's Borrowing Stance as Dangerous

Former President Olusegun Obasanjo criticized President Bola Tinubu regarding his defense of borrowing, labeling it as "absolute nonsense." Obasanjo made these remarks on Friday in Abeokuta, Ogun State, during the Ajibosin Platform event. He argued that debt is more dangerous than leprosy, as its consequences can affect multiple generations, unlike leprosy, which impacts only one individual.

Obasanjo reflected on Nigeria's economic situation, noting that 47 years ago, the exchange rate was one naira to $1.85, contrasting it with the current rate of 1,500 naira to the dollar. He questioned the knowledge and capabilities of Nigeria's leaders and criticized the World Bank and IMF, stating they were not designed for Nigeria and were established before the country gained independence.