6 publishers · first seen Thu, 29 Oct 2026 14:58 UTC · updated Sat, 31 Oct 2026 10:07 UTC
Former President Olusegun Obasanjo has criticised President Bola Tinubu's stance on borrowing, stating that debt is worse than leprosy as it affects future generations. Obasanjo made these comments at the Ajibosin Platform in Abeokuta, Ogun State, where he also warned against the potential exploitation of artificial intelligence by foreign interests. He questioned the economic policies of the World Bank and the International Monetary Fund, arguing they were not tailored to Nigeria's needs. Tinubu had previously defended borrowing, stating that it was necessary for infrastructure and development projects. Obasanjo also highlighted the depreciation of the naira and questioned the capacity of Nigeria's leaders to improve the nation's economic conditions.
Obasanjo further argued that the World Bank and IMF were not designed for Nigeria's unique circumstances and criticised the country's reliance on foreign economic prescriptions. He urged Nigerian leaders to ensure that national policies reflect the country's interests and development priorities. Additionally, he cautioned against the uncritical adoption of artificial intelligence, suggesting it could become another tool of exploitation if not controlled by African nations.
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