Former Nigerian President Olusegun Obasanjo has strongly criticized Africa’s political leadership, stating that many African leaders lack the basic economic knowledge necessary for driving sustainable development on the continent.

Speaking at the 32nd Afreximbank Annual Meetings (AAM2025) held on Thursday in Abuja, Obasanjo linked the continent’s underdevelopment, rampant corruption, and dependence on foreign aid to poor economic understanding by those in power.

“How many of our leaders even understand basic economics to be able to run the affairs of their country? Look at how we go about borrowing and wasting money. Waste and corruption—they are strange bedfellows of development. And that is what most of our leaders engage in,” Obasanjo said during a panel discussion.

Obasanjo Calls for a Rethink of Governance in Africa

Speaking on the theme “African Renaissance in an Era of Turbulence: Are the Lions Still on the Move?”, the elder statesman argued that Western liberal democracy, adopted from colonial powers, no longer serves Africa’s unique socio-political realities.

“In most African languages, opposition is the enemy. Where do you talk of a loyal enemy? Our democracy is not a democracy—it is a monocracy. You buy everyone; you become treasurer, and the money goes into your pocket,” he lamented.

Traditional Governance Models as a Better Option?

Obasanjo suggested that Africa’s traditional systems—consensus-based governance, communalism, and collective responsibility—might be more suitable for building inclusive leadership and people-centered development.

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He emphasized that Africa must chart its own democratic path rooted in indigenous values, rather than blindly copying foreign models that often fail to reflect the continent’s realities.

A Wake-Up Call for African Leadership

Obasanjo’s remarks come at a time when many African countries are grappling with:

• Soaring debt profiles
• Worsening poverty
• Weak institutions
• Youth unemployment and brain drain

His comments serve as a wake-up call for a new generation of African leaders to focus on economic literacy, institutional reforms, and people-driven development models.

Stay with NaijaBlogDaily for more updates on African politics, economic development, and leadership insights from across the continent.

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