Former President Olusegun Obasanjo has asserted that his administration stands out as one of Nigeria’s best.
Speaking at the Safe Online Youth Fellowship Bootcamp in Abeokuta on June 18, an event organized by NerdzFactory Company and supported by Meta at the Youth Development Centre, Olusegun Obasanjo Presidential Library (OOPL), Obasanjo reflected on his administration’s notable achievements from 1999 to 2007.
Obasanjo highlighted his efforts to free Nigeria from significant debt, emphasizing his pride in the nation’s 25 years of uninterrupted democracy, which began during his presidency in 1999.
“When I took office as elected President, I aimed to secure debt relief because we were spending $3.5 billion annually on debt servicing without reducing the overall debt,” he stated. “Today, I can confidently say I improved Nigeria’s economic standing.”
Obasanjo noted that he inherited $3.7 billion in reserves and a debt servicing cost of $3.5 billion. By the end of his tenure, he had secured debt relief, reducing the national debt to $3.6 billion, and increased reserves to over $50 billion. Additionally, he accumulated over $25 billion in excess crude revenue for the country.