Debt worse than leprosy, destroys generations — Obasanjo blasts Tinubu

Former President Olusegun Obasanjo has criticised President Bola Tinubu’s defence of government borrowing, describing his claim that borrowing is not leprosy as “absolute nonsense”.

According to Daily Trust, Obasanjo spoke on Friday at the Ajibosin Platform in Abeokuta, Ogun State, during a forum on artificial intelligence and national development. Trust Radio+1

Tinubu had earlier defended borrowing, stating:

“If we have to borrow, we borrow. Borrowing is not leprosy, we just have to work hard to be able to pay for it.”

Responding, Obasanjo declared:

“And for anybody to say debt is no leprosy, is absolute nonsense. Debt is worse than leprosy. Because leprosy destroys only one person. Debt destroys generations.”

The former president also questioned Nigeria’s economic management, citing the naira’s depreciation over 47 years.

He criticised reliance on the World Bank and International Monetary Fund, arguing that foreign economic policies might not address Nigeria’s peculiar circumstances.

Obasanjo urged leaders to prioritise economic decisions reflecting national realities.