Lagos, Nigeria – Former President Olusegun Obasanjo has attributed the current challenges facing Nigeria to the absence of quality leadership, asserting that the country is not inherently difficult to manage. Obasanjo made these remarks during the maiden memorial lecture in honor of the late Akintola Williams, organized by the Institute of Chartered Accountants of Nigeria (ICAN) in Lagos. The event, themed “Leadership Dynamics: Current Realities And Way Forward,” provided a platform for Obasanjo to share his insights on the nation’s leadership issues.
While acknowledging the complexities inherent in governing a diverse nation like Nigeria, Obasanjo emphasized that effective leadership is the cornerstone of national growth and stability. “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,” Obasanjo stated.
Reflecting on his tenure as president, Obasanjo recounted his efforts to stabilize the nation’s economy despite the limited resources available at the time. He noted that when he assumed office, Nigeria’s foreign reserves were at a low of ₦3.7 billion, and the country was burdened by a significant debt service of ₦3.5 billion. He explained that his administration prioritized debt relief, which eventually led to a substantial reduction in Nigeria’s debt and an improvement in the country’s economic fortunes.
Obasanjo claimed that by the end of his presidency, Nigeria had accumulated over ₦25 billion in excess crude savings and maintained a reserve of more than ₦45 billion, marking a significant turnaround from the financial state in which he found the country.
In his tribute to the late Akintola Williams, Obasanjo described him as a sage who made significant contributions to Nigeria’s political, social, and economic spheres. “He deserves every honor that we can confer posthumously, not just for what he did for this country but for what he did politically, socially, and economically,” Obasanjo remarked.
ICAN President, Davidson Alaribe, echoed these sentiments, stating that the memorial lecture was organized to learn from the exemplary leadership qualities demonstrated by Akintola Williams during his lifetime. “Let us honor him not just with plaques and statues, but through our daily commitment to uphold the standards he set, transforming every challenge into a stepping stone towards excellence,” Alaribe added.