Former President Olusegun Obasanjo has confidently asserted that during his tenure as Nigeria’s leader from 1999 to 2007, he fulfilled his responsibilities effectively and managed the country’s affairs with diligence. Speaking at a recent lecture in Lagos, Obasanjo took pride in his accomplishments and the economic strides made during his presidency.
“I can beat my chest and say that when I was there, I did everything I should do for Nigeria,” Obasanjo declared. He highlighted his efforts in managing Nigeria’s economic challenges, noting that upon assuming office, the country faced a precarious financial situation with N3.7 billion in reserves while spending N3.5 billion on debt servicing.
To address this issue, Obasanjo pursued debt relief, which he described as a crucial move. “I decided we must seek debt relief and I went out for it… and we got debt relief,” he said. Obasanjo detailed the success of these efforts, explaining, “Not only did we get relief from a quantum debt of N3.36 billion, but we also came to a quantum debt of N3.6 billion and I left with over N25 billion in what we call excess crude, that is, the money we saved from the budget and what we actually received and we had a reserve of over N45 billion.”
In addition to economic achievements, Obasanjo reflected on the nature of governance in Nigeria. He acknowledged the country’s complexity but emphasized that it is not insurmountable. “I always say Nigeria is a complex country. You must understand that. But Nigeria is not a difficult country to manage. You have to be honest with yourself, Nigeria and your God,” he stated.
Obasanjo’s remarks come amid ongoing debates about the effectiveness and legacy of past administrations in Nigeria, with his tenure frequently cited in discussions about the country’s economic and political history.