Obasanjo Reflects on His Presidency, Highlights Achievements and Debt Relief Efforts

Former President Olusegun Obasanjo has expressed pride in his administration’s accomplishments, asserting that he fulfilled his duties as President and effectively managed Nigeria’s affairs during his tenure from 1999 to 2007.

Speaking at a recent lecture in Lagos, Obasanjo detailed the financial challenges he inherited and the strategies he implemented to stabilize the nation’s economy.

Obasanjo highlighted that he took office with Nigeria’s reserves at N3.7 billion, while the country was spending N3.5 billion to service its debt.

He emphasized the urgency of seeking debt relief, which he actively pursued, resulting in significant financial gains for the nation. “Not only did we get relief from a quantum debt of N3.36 billion, but we also reduced the debt burden to N3.6 billion,” he said.

By the end of his administration, Obasanjo noted that he left Nigeria with over N25 billion in excess crude savings and a reserve of more than N45 billion.

Reflecting on the complexity of managing Nigeria, Obasanjo remarked, “Nigeria is a complex country. You must understand that. But Nigeria is not a difficult country to manage. You have to be honest with yourself, Nigeria and your God.” He stressed the importance of leadership integrity and accountability in governing a diverse nation like Nigeria.

Obasanjo’s comments come as he continues to engage in public discourse on national issues, often drawing from his experiences as a two-term president who navigated Nigeria through economic reforms and substantial debt relief efforts that shaped the country’s fiscal landscape.

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