Obasanjo Warns Against Rising National Debt, Claims It Threatens Future Generations

Former Nigerian President Olusegun Obasanjo has voiced serious concerns over the current administration's escalating borrowing practices under President Bola Tinubu. In a poignant statement, he likened the implications of national debt to a terminal illness, suggesting that while leprosy affects only one individual, debt has the potential to affect generations of Nigerians.

Obasanjo made these remarks during a recent event, where he underscored the importance of fiscal responsibility and the need for sustainable economic policies. He argued that excessive borrowing can lead to dire consequences, not only for the present populace but also for future generations who may bear the brunt of repaying these debts.

“And for anybody to say debt is no leprosy, is absolute nonsense. Debt is worse than leprosy. Because leprosy destroys only one person. Debt destroys generations,”

These comments come at a time when Nigeria is grappling with significant economic challenges, including rising inflation and a devalued currency. Obasanjo's perspective resonates with a growing concern among economists and citizens alike regarding the sustainability of the nation's fiscal policies and the long-term implications of accumulating debt.

As Nigeria continues to navigate its financial landscape, the discourse around borrowing and economic management will undoubtedly remain a focal point for policymakers and the public. Obasanjo's critique serves as a reminder of the urgent need for strategic planning to safeguard the nation's economic future.