Former President Olusegun Obasanjo, on Monday, warned that African leaders must urgently address the issues facing the continent else face serious consequences.
Speaking at the opening ceremony of the FESTAC Africa Festival at the Jomo Kenyatta Stadium in Kisumu, Kenya, Obasanjo emphasized that widespread poverty across Africa is not an act of God but rather a result of poor governance and mentality.
Noting that the continent’s abundant resources should be more than sufficient to lift its people out of poverty, Obasanjo said, “Africa has no reason to be poor. Our poverty is not an act of God. We are steeped in poverty due to our poor mentality. We need to wake up because we have a wealth of resources.”
He highlighted the historical exploitation of Africa, pointing out that when labour was needed to build wealth in the New World, African people were enslaved and transported across the Atlantic.
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“That hasn’t stopped. The slave trade led to colonialism. We enrich others while remaining impoverished. We need to awaken,” he said.
Obasanjo also criticized past economic policies imposed on African nations, such as the Structural Adjustment Programs promoted by the World Bank.
He argued that these programs were misguided and detrimental because they were applied to economies that lacked the necessary structures to benefit from such adjustments.
While acknowledging that Africa has achieved political liberation, Obasanjo stressed that economic freedom remains elusive.
He further urged African leaders to take decisive action to create wealth and improve the lives of their citizens, particularly the youth.
“Our youth are restless, unhappy, bitter, angry, unemployed, and dissatisfied. They cannot wait for a long-promised future. They want action now. If we fail to deliver, we will be in trouble. However, we can meet their needs because we have the capability,” the former President stated.
