Olusegun Obasanjo Calls for Integrity-Driven Leadership Amid Rising National Debt

Former President Olusegun Obasanjo has expressed concern about Nigeria's increasing debt burden, describing it as a pressing issue for both current and future generations. He made these remarks during the "Boiling Point Arena" Zoom interactive session.

According to reports, Nigeria's total debt reached N134.3 trillion ($91.3 billion) by the end of Q2 2024, representing a 10.35% increase from the N121.7 trillion recorded in the first quarter.

Reflecting on his tenure, Obasanjo said, “Yes, I was able to secure debt forgiveness for the nation before I left office, but our present debt profile is a problem for both this and the next generation.”

The former president emphasized the importance of leadership grounded in integrity and merit, citing examples of South Korea and Singapore. He highlighted how these nations have advanced through leadership committed to transparency and competence.

“The best way to fight corruption is from the top. In South Korea, their leaders make appointments based on merit, and that has become the country’s legacy,” Obasanjo remarked.

The session also drew attention to the need for strategic reforms and prudent fiscal management to ensure Nigeria’s economic sustainability. Obasanjo called on policymakers to prioritize long-term development over short-term gains.

Observers have echoed Obasanjo’s call for integrity-driven governance, emphasizing its role in fostering sustainable growth and reducing economic vulnerabilities.