When I Was President,I Was Worried About A Debt Of $36B Today We’ve A Debt Of $147B -OBJ

According to a video shared by Channels Television, former President Olusegun Obasanjo has expressed concern over Nigeria’s growing debt burden, recalling the financial difficulties his administration faced and comparing the country’s debt profile during his presidency with the current situation.

Obasanjo explained that he was deeply concerned about Nigeria’s $36 billion debt while serving as president, describing the amount as a significant financial burden on the country at the time.

However, he noted that Nigeria’s debt has since risen to $147 billion, warning that the country would eventually have to meet its repayment obligations.

The former president also recalled the amount Nigeria spent on servicing its debt during his administration, saying the government was paying $3.6 billion despite the country’s debt not reducing.

According to Obasanjo, the situation troubled him because the substantial amount spent on debt servicing was not translating into a reduction in the country’s overall debt burden.

Speaking about the issue, he said, “When I was president, I was worried about a debt of $36 billion hanging over Nigeria. Today, we have a debt of $147 billion, and you will have to pay. What worried me then was that we were spending $3.6 billion to service our debt, yet it wasn’t going down.”

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