Former President Olusegun Obasanjo expressed his deep concern about Nigeria’s failure to meet expectations since gaining independence in 1960 during a virtual speech at the book launch of ‘Reclaiming the Jewel of Africa’ by Olusegun Aganga, the former Minister of Industry, Trade, and Investment. The event took place in Abuja and was attended by prominent figures, including former President Goodluck Jonathan and representatives of President Bola Tinubu.
Obasanjo attributed the country’s disappointing performance to inconsistent policies implemented by previous administrations. He stressed the need for policy consistency, implementation, and equity as essential elements for any successful administration.
In the book, Aganga urged the Federal Government to create policies that encourage thriving investments. The book delves into how Nigeria can assume a prominent position among nations by adopting principles that positively impact its development. It also addresses governance challenges and offers solutions to position the nation for socio-economic growth.
While some individuals might question Obasanjo’s right to criticize Nigeria’s failures, it’s important to acknowledge his achievements during his time in office. His tenure may be seen in the future as a turning point for Nigeria, a time when the resource-rich country began to address its challenges. However, criticism of his administration focuses on issues such as failing schools, corruption in the police force, inadequate healthcare facilities, and unreliable electricity supply. Despite these challenges, Obasanjo is recognized for creating a government that functions more efficiently than in previous years.
One of the significant issues Obasanjo tackled was corruption. He established the Economic and Financial Crimes Commission (EFCC) to investigate corruption among government officials, even within his own cabinet. The EFCC’s efforts led to over 150 convictions, including three sitting governors from Obasanjo’s party, and the recovery of more than $5 billion in stolen public funds. The fight against corruption played a crucial role in attracting foreign investment and gaining debt forgiveness from Western donors.
Despite some progress, Nigeria still faces significant socio-economic challenges. The economy has grown due to oil investments, but social indicators remain alarming. Life expectancy is low, access to clean drinking water is limited for many, and child mortality rates are high. Additionally, despite being a major oil producer, Nigeria relies heavily on refined product imports, leading to increased costs for everyday goods.
One area where Obasanjo’s efforts yielded positive results was in the telecommunications sector. Deregulation allowed private cellphone companies to enter the market, leading to a significant increase in telephone lines and improved communication for ordinary citizens.
Overall, Obasanjo’s tenure left a lasting impact on Nigeria’s political landscape, but challenges persist. Efforts to combat corruption and implement consistent policies are crucial to overcome the country’s socio-economic struggles and unlock its full potential.
