FORMER President Olusegun Obasanjo has lamented that Nigeria and other African countries might be unable to secure debt relief, considering their large debt profiles.
Obasanjo also indicated that the debt relief secured by Nigeria from the Paris Club during his tenure was allegedly mismanaged successive administrations, a situation that has plunged the country into huge and undeserved debt.
According to the Debt Management Office (DMO), Nigeria’s public debt alone stood at N87.91trillion by September last year, a development Obasanjo feared might be impossible for the next generations of Africans to enjoy debt relief again, considering the mismanagement on the continent.
The former head of state, in a statement on Wednesday, January 3, by his Special Assistant on Media, Kehinde Akinyemi, said: “With the level of mismanagement of the previous debts written off for the country, it will be almost impossible for any administration to get similar gesture in the continent.”
