US EditionAfrica: Obasanjo Decries Africa's Leadership, Overdependence On Aid, Flawed Democracy
- Former Nigerian President Olusegun Obasanjo addressed Africa's slow economic and political progress during a session at Afreximbank’s 32nd Annual Meetings held in Abuja last week.
- He attributed Africa's stagnation to poor leadership, endemic corruption, overreliance on foreign aid, and a democratic model ill-suited to the continent's realities.
- Obasanjo criticized leaders for borrowing $20 billion from China while ignoring domestic wealth, condemned democracy's fall into a "monetocracy," and decried the winner-takes-all mindset.
- He called for swift reforms focused on boosting agriculture and promoting intra-African trade through local currencies, warning that without proactive leadership taking initiative, much of the continent will continue to face stagnation.
- Obasanjo warned that without decisive leadership and growth from key nations like Nigeria, Egypt, Ethiopia, DRC, and South Africa, Africa's progress remains limited.
12 Articles
12 Articles
African leaders have no basic economic knowledge to develop continent
Former Nigerian President, Olusegun Obasanjo has taken a swipe at Africa’s political elite, saying they lack the basic economic knowledge needed to drive the continent’s development. Obasanjo blamed the deficiency for underdevelopment, corruption, and dependency on foreign aid. The octogenarian stated this during a panel session at the 32nd Afreximbank Annual Meetings (AAM2025) in Abuja on Thursday. “How many of our leaders even understand basic…
Over reliance on foreign aid hindering Nigeria, Africa's growth - Obasanjo - Daily Trust
Former President Olusegun Obasanjo has knocked Nigeria and other African countries over their overreliance on foreign aid, poor leadership, and shortfall on democratic system. Speaking at at the 32nd Annual Meeting of Afreximbank in Abuja on Friday, Obasanjo said Africa’s so-called “giants” have failed to achieve meaningful growth weighed down by systemic inefficiencies and misguided governance. According to him, nations like Nigeria, Egypt, Eth…
Africa: Obasanjo Decries Africa's Leadership, Overdependence On Aid, Flawed Democracy
Former President Olusegun Obasanjo has attributed Africa's stagnation to a combination of poor leadership, endemic corruption, overdependence on foreign aid, and the continent's adoption of a democratic model ill-suited to its realities.
Nigeria: Ex-President Obasanjo Blames Economic Illiteracy For Africa’s Stalled Development
By Ebi Kesiena Former Nigerian President Olusegun Obasanjo has identified a lack of economic literacy among African leaders as a major obstacle to the continent’s sustainable development and self-sufficiency. Speaking at the 32nd Afreximbank Annual General Meeting in Abuja, Obasanjo lamented that Africa’s most promising nations have failed to translate their demographic and resource advantages into meaningful economic progress. Obasanjo attribut…
“Stop the Waste, Fight Corruption, Mobilize Africa’s Wealth”
Former Nigerian President Chief Olusegun Obasanjo emphasizes the critical need for African leaders to combat corruption, minimize government waste, and mobilize resources for sustainable development across the continent.
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