By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Daily Report NigeriaDaily Report NigeriaDaily Report Nigeria
Notification Show More
Font ResizerAa
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Reading: Nigeria’s Debt Crisis: Obasanjo Blasts Leadership Failures Since 2007
Share
Font ResizerAa
Daily Report NigeriaDaily Report Nigeria
  • METRO
  • NEWS
  • POLITICS
  • SPECIAL REPORT
  • FACT FILE
Search
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Have an existing account? Sign In
Follow US

Home | Nigeria’s Debt Crisis: Obasanjo Blasts Leadership Failures Since 2007

Politics

Nigeria’s Debt Crisis: Obasanjo Blasts Leadership Failures Since 2007

Olaitan Sodiq
Olaitan Sodiq
Published: June 15, 2025
Last updated: June 15, 2025
2 Min Read
Share
Nigeria's Debt Crisis: Obasanjo Blasts Leadership Failures Since 2007 | Daily Report Nigeria
SHARE

In a candid interview with News Central Television, former President Olusegun Obasanjo has expressed grave concerns over Nigeria’s escalating debt crisis, highlighting the dramatic fiscal decline since he left office in 2007.

Obasanjo recounted his administration’s efforts to reduce the nation’s debt from nearly $36 billion to approximately $3.5 billion, a stark contrast to today’s financial landscape.

“When I came in 1999, we had a debt overhang of close to $36 billion,” Obasanjo stated. “By the time I left, with debt relief and clearing what we had to clear, the quantum of debt that I left was about $3.5 to $3.6 billion.”

Obasanjo emphasized the improvements made during his tenure, noting that the foreign reserves rose from a mere $3.7 billion to an impressive $45 billion.

ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!

Additionally, he revealed that the government accumulated about $25 billion in an “Excess Crude” account—funds that were meant to bolster the economy beyond its regular budgetary allocations.

READ ALSO: Police Arrest Suspected Armed Robber In Ogun

“Now, the point is that I left in 2007. Today, between 2007 and 2024, all that amount of money has gone; all of it,” he lamented. “Not only that, but all the money they made all that period had gone. And today, we owe more than we owed when we came to government in 1999.”

The former president criticized the current leadership, pointing to what he described as a “poor quality of leadership” that has contributed to the country’s current predicament.

 

For publication of Press Releases, Statements, and Advert Inquiries, send an email to info@dailyreport.ng
TAGGED:Debt crisesOlusegun ObasanjoTop Stories
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Updates

Amaju Pinnick Joins CAF Leadership Circle as Motsepe’s Adviser | Daily Report Nigeria
Amaju Pinnick Joins CAF Leadership Circle as Motsepe’s Adviser
Sports
NNPC Cuts Petrol Price to N910 Per Litre Nationwide | Daily Report Nigeria
NNPC Cuts Petrol Price to N910 Per Litre Nationwide
Business
Liverpool to Pay Diogo Jota’s Salary to Family Until 2027 | Daily Report Nigeria
Liverpool to Pay Diogo Jota’s Salary to Family Until 2027
Sports
Burnley Sign Kyle Walker from Man City for £5M | Daily Report Nigeria
Burnley Sign Kyle Walker from Man City for £5M
Sports
Nigeria's Oil Production Jumps to 1.7m bpd as Tantita Intensifies Fight Against Oil Theft
Urhobo Communities Back Tantita Security, Reject UPU Call for Withdrawal
News

TOPIC

2023 Elections Abuja Accident AFCON Anambra APC Arrest ASUU ASUU Strike Atiku Abubakar Bandits Bayelsa BBNaija Biafra Boko Haram Bola Ahmed Tinubu Bola Tinubu Breaking News Breaking News Nigeria Burna Boy Burutu CBN Celebrity news Chelsea Coronavirus court covid-19 Crime Daily Report Ng Daily Report Nigeria Daily Sports News Davido Delta Delta state DSS Education EFCC Elections English Premier League EPL Family federal government FG FIFA World Cup Football Fraud Godwin Emefiele Goodluck Jonathan Governor Nyesom Wike Gunmen Health Ifeanyi Okowa Imo INEC Insecurity IPOB IYC JAMB Kaduna Kidnap Labour Party Lagos Lagos State Manchester United Marriage Muhammadu buhari Music NASS NDDC NDLEA Niger Delta Nigeria NLC Nnamdi Kanu NNPC Nollywood Nyesom Wike Olusegun Obasanjo Pastor PDP Peter Obi Police Politicians President Bola Ahmed Tinubu President Muhammadu buhari Professor Yemi Osinbajo Protest Rape Reno Omokri Rivers State Senate Sheriff Oborevwori Social Media Suicide Super Eagles Tinubu Top Stories Twitter Victor Osimhen Zamfara

You Might Also Like

EFCC Alerts Nigerians About ATM Card Swap Fraud | Daily Report Nigeria
News

EFCC Alerts Nigerians About ATM Card Swap Fraud

June 14, 2025
Delta Loses Former Attorney-General Akpedeye to Death | Daily Report Nigeria
News

Delta Loses Former Attorney-General Akpedeye to Death

June 13, 2025
BREAKING: Emefiele Not in Our Custody - DSS
News

BREAKING: DSS Links Emefiele to IPOB

June 15, 2025
Community Rejoice, As Lakurawa Kingpin Is Killed | Daily Report Nigeria
Metro

Community Rejoice, As Lakurawa Kingpin Is Killed

March 5, 2025
© Daily Media N Publishing LTD. All Rights Reserved.
  • Home
  • About Us
  • Adverts With Us
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?