Former President Olusegun Obasanjo has asserted that Nigeria’s economy was in a better state at the end of his administration than it is currently.
Speaking at the Safe Online Youth Fellowship Bootcamp in Abeokuta, Obasanjo reflected on the achievements of his tenure.
He highlighted his efforts to free Nigeria from the “bondage of debt” and pave the way for 25 years of uninterrupted democracy.
“When I came in as elected President, I wanted to get debt relief because we were spending $3.5 billion every year servicing debt, and the quantum of the debt was not going down. Today, I can say that I made Nigeria better than I found it from an economic perspective.” Obasanjo stated
Obasanjo detailed the economic landscape at the start and end of his presidency.
“I found $3.7 billion in the reserves and we were spending $3.5 billion to service our debt. By the time I left, we had reduced the debt to about $3.6 billion with the debt relief efforts, and I left a reserve of over $50 billion. Additionally, we achieved an excess crude account for the country worth over $25 billion.”
The former president’s comments come amid ongoing discussions about Nigeria’s economic challenges and the legacy of past administrations.
