How Nigeria was relieved from debt of N3.36 billion, Obasanjo makes shocking disclosure

• The former President of Nigeria, Olusegun Obasanjo has bragged about his financial achievements while in office
• Expressing concern over the current state of the nation under President Tinubu, Obasanjo noted that he relieved Nigeria of the debit debt of N3.36 billion and left office saving over N25 billion for Nigeria
• The elder statesman also noted that Nigeria is not difficult to manage rather the major issue hindering the country's growth is bad leadership

Legit.ng journalist Esther Odili has over two years of experience covering political parties and movements.

Former President Olusegun Obasanjo has alluded to the country's dwindling state as the absence of quality leadership, saying that the country is not difficult to manage.

Obasanjo speaks on how he serviced Nigeria's debt. Image for illustration purposes. Photo credit: PIUS UTOMI EKPEI/AFP via Getty Images
Source: Facebook

The former president made this assertion while fielding questions at the maiden memorial lecture in honour of the late Akintola Williams.

A lecture themed: ‘Leadership Dynamics: Current Realities And Way Forward,’ organised by the Institute of Chartered Accountants of Nigeria (ICAN) in Lagos.

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He, however, admitted the country's complexities but stressed that the bedrock of a nation's growth is the leadership at the helm of affairs, Daily Trust reported.

“I always say 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 said.

Obasanjo speaks on how he serviced Nigeria's debt

He recounted his stints as president, asserting that he served the country with the resources available at his disposal, claiming the country’s economy enjoyed good economic fortunes.

“When I was there, I did everything I should do for Nigeria and I can beat my chest and say that.“I took over as the affairs of Nigeria as elected President with N3.7b in reserves and we were spending N3.5b to service debt, so I decided we must debt relief and I went out from it even though we were fifth country in all exporting in the world and we got debt relief.“Not only did we not get relief from a quantum debt of N3.36b we came to a quantum debt of N3.6bn and I left with over N25b in what we call excess crude that is the money we saved from the budget and what we actually received and we had a reserve of over N45b,” he said

He, however, described the late Akintola Williams as a sage, saying he served humanity during his life time.

Read more about Obasanjo:

• Hardship: Why Nigeria remains backward - Obasanjo
• Obasanjo finally reacts to claim his father is Igbo
• Igbo Must Go Hashtag: Obasanjo breaks silence, “We own this country together”

Obasanjo identifies major cause of poverty in Africa

Earlier, Legit.ng reported that Olusegun Obasanjo identified one major reason Africa is retrogressing.

Obasanjo said that given the continent’s abundant resources, there is no reason for its growing poverty.

The elder statesman made this assertion at the opening ceremony of the FESTAC Africa Festival at the Jomo Kenyatta Stadium in Kisumu, Kenya.

Source: Legit.ng