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See what Obasanjo Said Nigeria Need for Economic Revival

Published by Tope Fakinlede on October 31st, 2024.

See what Obasanjo Said Nigeria Need for Economic Revival

Olusegun Obasanjo

Former President Olusegun Obasanjo has emphasized the need for Nigeria to engage skilled technocrats to rejuvenate its economy, expressing concern over the reliance on individuals who have contributed to the country’s economic struggles.

Speaking at a valedictory event for Chrisland University’s outgoing Vice-Chancellor, Prof. Chinedum Babalola, in Abeokuta, Obasanjo highlighted the abundance of talented individuals in Nigeria who could help steer the nation towards prosperity. He insisted that collective effort is crucial for the country’s advancement.

He remarked, “No one else will improve our situation; we must take action ourselves. We have capable people, and we need to seek them out.” He noted that Nigerians hold prominent positions in major African development banks and international organizations, such as Ngozi Okonjo-Iweala at the World Trade Organization and Amina Mohammed at the United Nations.

Obasanjo urged the nation to focus on diversifying its economy through sectors like agriculture, tourism, industry, and education. He recalled his time as head of state, mentioning that Nigeria once had a flourishing shipping line with plans to expand its fleet, only to see those assets decline over the years.

He shared a cautionary tale about a ship sold for $500,000, which was later repurchased for $2 million, highlighting mismanagement and wasted resources. “When I assumed office, that ship was already in trouble,” he said, illustrating the ongoing challenges of governance in Nigeria.

Obasanjo lamented the fate of Nigeria Airways and the lack of accountability for those responsible for its decline. He expressed concern over a recent case where a police pension scheme manager received a lenient sentence for embezzlement, questioning the implications for future corruption.

He praised Dr. Winfred Awosika, the founder of Chrisland University, for her commitment to advancing education in Nigeria and commended Prof. Babalola for his remarkable achievements during his tenure.