Corruption, insecurity major problems confronting Africa –Obasanjo
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Former President Olusegun Obasanjo has identified corruption, insecurity and infrastructure decay as major problems confronting Africa.
Obasanjo said this at the inauguration of newly-established Africa Institute at the Valparaiso University, Indiana, U.S.A, in his honour on Saturday.
The institute would serve as a cultural exchange centre between it and Nigeria in particular and Africa at large.
On the security challenges facing Nigeria, Obasanjo said that government must properly identify the remote causes of the activities of the Boko Haram sect.
Obasanjo stressed the need for more attention to be placed on the improvement of infrastructure within the continent.
As part of reforms to Nigeria’s economy while in office, Obasanjo disclosed that when he took over in 1999, the country owed close to 35 billion dollars.
He also said that the country was spending about 3 billion dollars annually to service debts.
“I decided that we should seek debts relief. I also decided that we would go for deep reforms. Our creditors took us very serious and granted us debts relief.
“The reserve of 3.7 billion dollars that I met in 1999 grow to well over 45 billion dollars by the time I left office.
“After we paid over 12 billion dollars, we cleared the debts slate. Nigeria was not the only country moving in that direction,” he said.
Earlier, the President of the university, Dr. Mark Heckler, said the exemplary leadership of Obasanjo in Africa and in Nigeria was a driving force for the choice of honouring him. (NAN)
Category: News Written by Nan Hits: 9
Former President Olusegun Obasanjo has identified corruption, insecurity and infrastructure decay as major problems confronting Africa.
Obasanjo said this at the inauguration of newly-established Africa Institute at the Valparaiso University, Indiana, U.S.A, in his honour on Saturday.
The institute would serve as a cultural exchange centre between it and Nigeria in particular and Africa at large.
On the security challenges facing Nigeria, Obasanjo said that government must properly identify the remote causes of the activities of the Boko Haram sect.
Obasanjo stressed the need for more attention to be placed on the improvement of infrastructure within the continent.
As part of reforms to Nigeria’s economy while in office, Obasanjo disclosed that when he took over in 1999, the country owed close to 35 billion dollars.
He also said that the country was spending about 3 billion dollars annually to service debts.
“I decided that we should seek debts relief. I also decided that we would go for deep reforms. Our creditors took us very serious and granted us debts relief.
“The reserve of 3.7 billion dollars that I met in 1999 grow to well over 45 billion dollars by the time I left office.
“After we paid over 12 billion dollars, we cleared the debts slate. Nigeria was not the only country moving in that direction,” he said.
Earlier, the President of the university, Dr. Mark Heckler, said the exemplary leadership of Obasanjo in Africa and in Nigeria was a driving force for the choice of honouring him. (NAN)
