Obasanjo Labels Nigeria's Debt Worse Than Leprosy
Former President Olusegun Obasanjo responded to President Bola Tinubu's assertion that borrowing is not leprosy by declaring that Nigeria's escalating debt is worse than the disease, as its repercussions affect future generations. Obasanjo made these remarks on Friday at the 3rd Ajibosin Annual Symposium, themed “Leveraging Artificial Intelligence to Solve Grassroots Problems and Accelerate National Development,” held at the Olusegun Obasanjo Presidential Library in Abeokuta.
He criticized the increasing debt burden and questioned the economic management capabilities of Nigeria's leaders. Obasanjo also condemned the policies of the World Bank and the International Monetary Fund, arguing they do not support Nigeria's development.
He illustrated his point by recalling a conversation with former British Prime Minister Jimmy Callaghan about agricultural subsidies. Obasanjo lamented the naira's devaluation over 47 years and emphasized that debt destroys generations, unlike leprosy, which affects individuals.
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