Former President Olusegun Obasanjo asserts he effectively managed Nigeria and achieved significant debt relief during his tenure from 1999 to 2007.
[dropcap]F[/dropcap]ormer President Olusegun Obasanjo recently defended his legacy during a lecture in Lagos, asserting that he did everything necessary for Nigeria during his presidency from 1999 to 2007.
Obasanjo recalled inheriting a challenging financial situation, with ₦3.7 billion in reserves while spending ₦3.5 billion annually on debt servicing.
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He highlighted his successful efforts to secure debt relief, reducing Nigeria’s debt from ₦3.36 billion to ₦3.6 billion.
By the end of his term, he boasted about leaving behind ₦25 billion in excess crude reserves and a total reserve of over ₦45 billion.
He also remarked on the complexity of managing Nigeria but insisted it is not a difficult task. “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,” Obasanjo stated.
Oreoluwa is an accountant and a brand writer with a flair for journalism.
