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Nigeria was debt-free when I left government in 2007 – Obasanjo


Former president, Chief Olusegun Obasanjo Tuesday said that before handling over to the late President Umaru Musa Yar’Adua in 2007, Nigeria was a debt-free nation. The retired military general affirmed that his administration brought about tremendous changes in the county’s economy.

Obasanjo while speaking in Lagos at a forum organized by Nigeria Leadership Initiative (NLI) disclosed that he still believe in the future of the Nigeria.

According to him: “When I came on board in 1999, the reserve of this country was 3.7 million dollars and we were taken 3 billion dollars every year to manage our debt and as at then, we owed about 35 billion dollars. By the time I left the government in 2007, our reserve was over 45 billion dollars after paying all our debt.”

Speaking on the topic, Leadership and Underpinning, Obasanjo averred that the issue of leadership is one that usually poses dilemma to the analyst when it comes to its examination. He said: “This is particularly so in that it has plethora of dimension viz. the philosophy of leadership, institutional leadership, social/club leadership, religious leadership, political leadership, community/traditional leadership etc.”

The Ogun-born politician cum cleric in his address spoke on issues such as: Concept of Leadership, A Preview of Some Leadership Theories, Leadership Styles, Power Bases of Leadership, Leadership Attributes and Leadership Inadequacy disclosed that leadership is about setting and not just reacting to agendas, but identifying problems and initiating change that makes for sustainable improvement and seeing what is initiated to completion.

His words, “The leadership problems in Africa have been attributed to many causes, the most significant of which is leadership inadequacies. This is not too difficult to accept; because the success or failure of any organisation is a reflection of leadership performance. Within our own lifetime, we have witnessed series of political leadership characterized by more shortcomings than achievements. Whenever we go further to explore the reason for persistence of the leadership problems in Africa, the following shortcomings are common to most leaders in their manifestos, they include: Acceptance of the supremacy of individual ethnic identity over that of the nation, acceptance of public position as poverty heal-all, disrespect for the law, over-display of leadership arrogance, disregard of superior values and ideas and inability to stay with and manage success”

Speaking further, OBJ affirmed that African polity needs leaders who will be committed to the value of service and service to community, humanity and God. Leaders who are committed to value of honesty, integrity and committed to the rule of law and to upholding fairness, equity and fear of God.

He believes that “A leader must not only lead, he must be seen, accepted and trusts to be decisively leading”

Earlier in his speech, the CEO of Nigeria Leadership Initiative, Mr. Yinka Oyinlola described NLI as a network of people that is passionate about the development of Nigeria. He said, “NLI works towards preparing for a better future through values-based leadership.”

According to him, “The key component of the initiative, sponsored by First Bank of Nigeria, is the future leaders programme. The programme is premised on the notion that changes do not happen overnight. Therefore, at NLI, we discuss problems and their solutions. Through the dialogue and reflection process, of the guest speaker forums, we acquire potentially untested, unconventional and new leadership ideas capable of transforming Nigeria positively.”

While thanking Chief Obasanjo for taking out time to be part of the epoch-making event, Oyinlola explained that “if this country (Nigeria) is unwell, if this country is ill, all of us who claim to be well are living in borrowed times. Fortunately, it is something we can do something about.”

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