Former Nigerian President Olusegun Obasanjo, expressed deep concern over the country's escalating debt levels since he left office in 2007.
Obasanjo, who served as president from 1999 to 2007, highlighted the robust financial state he left behind, which included approximately $70 billion.
This sum was composed of a $45 billion reserve and a $25 billion "excess crude" account, funds that were meant to secure Nigeria's economic future.
Reflecting on his administration's achievements, Obasanjo noted, "I came in 1999 and met $3.7 billion in the reserve. By the time we left eight years later, with debt relief, the quantum of debt that I left was about $3.5 to $3.6 billion from over or around $36 billion."
He emphasized the stark contrast between the financial health of the nation at the end of his tenure and the current situation, where "all that amount of money has gone; all of it."
Obasanjo criticized the current leadership for not only depleting the savings accumulated during his presidency but also for increasing the nation's debt beyond the levels present when he first assumed office.
Commentaires