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“Nigeria’s Challenges Stem from Poor Leadership, Not Complexity” – Obasanjo
Former President Olusegun Obasanjo has emphasized that Nigeria is not inherently difficult to manage, attributing the country’s challenges to inadequate leadership rather than its complexity.
Speaking at the maiden memorial lecture in honour of the late Akintola Williams in Lagos, Obasanjo stressed that while Nigeria is a multifaceted nation, it requires understanding and competent management, which has often been lacking in its leadership.
The event, titled *“Leadership Dynamics: Current Realities and Way Forward,”* was organized by the Institute of Chartered Accountants of Nigeria (ICAN) in Lagos.
During his address, Obasanjo noted that managing Nigeria effectively demands a deep comprehension of its complexities but dismissed the notion that it is an impossible task.
He urged leaders to be honest with themselves, the nation, and their faith as they navigate the responsibilities of governance.
“Nigeria is indeed a complex country, and that is something we must acknowledge,” Obasanjo stated.
“But it is not a difficult country to manage. What we need is leadership that is transparent, committed, and genuinely invested in the well-being of the people.”
Reflecting on his time in office, Obasanjo recounted his efforts to stabilize and grow Nigeria’s economy.
He expressed pride in the initiatives undertaken during his presidency, especially in managing the country’s finances, and noted that Nigeria’s economic condition was relatively strong under his leadership.
“When I served as president, I did everything I could with the resources available to me,” Obasanjo said.
“I can confidently say I gave my best to move the country forward.
For example, when I assumed office, Nigeria had only N3.7 billion in reserves, while we were spending N3.5 billion on servicing debts.
Faced with this, I prioritized seeking debt relief for the country. Despite being one of the top five oil exporters globally at the time, we were burdened by an unsustainable debt load.”
Obasanjo went on to detail the efforts that led to Nigeria securing debt relief, a significant achievement during his tenure.
He explained that the country’s debt burden, initially at N3.36 billion, was substantially reduced, allowing for a period of fiscal stability.
He also highlighted that by the time he left office, the country’s reserves had grown significantly.
“We didn’t just secure debt relief; we turned the situation around. By the time I left office, Nigeria had over N25 billion in excess crude, which was money saved from the budget surplus.
Additionally, our foreign reserves exceeded N45 billion, which positioned us for future growth and economic security,” he added.
In his tribute to the late Akintola Williams, Obasanjo lauded the iconic chartered accountant for his numerous contributions to Nigeria.
Williams, who was regarded as a pioneer in the field of accounting in the country, was also recognized for his social, economic, and political impact.
“Akintola Williams was not just a professional; he was a sage whose influence extended beyond the financial sector.
His contributions to humanity, both in Nigeria and beyond, remain a lasting legacy.
He deserves all the honours we can bestow upon him, even posthumously, for the indelible marks he left in various spheres of life,” Obasanjo said.
The lecture provided an opportunity for the former president to reflect on the importance of effective leadership in shaping Nigeria’s future.
He reiterated that while challenges remain, with the right leadership, Nigeria has the potential to overcome its difficulties and thrive.
Obasanjo’s speech resonated with many attendees, especially given the current socio-political and economic climate of the nation.
His call for a deeper understanding of Nigeria’s complexities, coupled with his reflections on leadership, served as a reminder of the critical role governance plays in determining a nation’s trajectory.
TV anchor Rufai Oseni makes headlines as he speaks on fuel subsidy in Nigeria. He shared that Nigeria can have fuel subsidy without the long queues at filling stations.
“When we were still paying subsidies, there were no long queues. We were subsidising. So you can still have a subsidy regime going on, and there will be no long queues because production was close by. Dangote had it. That’s just it. That argument also falls flat.
“The biggest beneficiaries of subsidy are not Nigerians. They are crony capitalists that have big infrastructure, and they do contracts. They have been the biggest beneficiaries of the subsidy,” he said.
Lagos State Governor, Sanwo-Olu, speaks to those in the electricity sector about the usual blackouts in the state.
He speaks on ways things can change in the state and how electricity can be provided.
“We need to drop corporate egos, abandon long-standing excuses, and confront the harsh realities obstructing progress in the power sector.”
“We, state governments, used to give excuses that everything is centralised, so the Federal Government has unbundled it now. What have we done in a year and a half?” Sanwo-Olu asked.
“We take two steps forward, we go five steps backward,” he said.
Lagos State Governor Babajide Sanwo-Olu has declared Thursday, August 20, a work-free day for public servants in the state to mark the Isese Festival.
Speaking on the celebration, he said “Ìṣẹ̀ṣe is not a relic. It is a living expression of our traditions and a celebration of Yoruba spirituality as an important part of Nigeria’s cultural and religious landscape,” he said.
He added “When the drums sound in Lagos on Thursday, they answer drums in Havana, in Salvador, in Port of Spain. Fifty-five million people and counting. Lagos is not observing a local holiday. Lagos is standing at the centre of a global heritage,” Aregbe said.
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