Obasanjo Says Nigeria's Debt Crisis Worse Than Leprosy, Rejects Tinubu's Borrowing Defence

Former President Olusegun Obasanjo has attacked President Bola Tinubu's stance on national borrowing, contending that Nigeria's escalating debt burden is more destructive than leprosy itself. Speaking on Friday at the Ajibosin Annual Symposium in Abeokuta, Ogun State, Obasanjo rejected Tinubu's earlier comments defending government loans, calling the position 'absolute nonsense'.

The event focused on leveraging artificial intelligence to address grassroots development challenges. Obasanjo's central argument centres on the intergenerational impact of debt.

While leprosy harms only an individual person, he said, the consequences of excessive borrowing extend across multiple generations of Nigerians who had no role in accumulating the loans. The former president questioned how Nigeria became trapped in its current debt situation and whether technology solutions could assist in resolving the crisis.

The critique carries weight given Obasanjo's track record in debt management. During his presidency from 1999 to 2007, he secured a landmark $30 billion Paris Club debt relief package for Nigeria, a significant achievement in the nation's economic history.

He framed the current debt accumulation as a failure of economic stewardship that burdens generations yet unborn. Tinubu's administration has pursued increased borrowing to fund infrastructure and development programmes, with government officials previously arguing that borrowing itself is not inherently problematic if repayment capacity exists.

Obasanjo's public challenge at the symposium represents a direct and forceful counter to that position from a former leader with substantial experience managing Nigeria's fiscal affairs.