Former Nigerian President Olusegun Obasanjo has criticized Africa’s political leadership, stating that many lack the basic economic knowledge needed to drive meaningful development across the continent.
Speaking during a panel session at the 32nd Afreximbank Annual Meetings (AAM2025) in Abuja on Thursday, Obasanjo linked the continent’s persistent underdevelopment, widespread corruption, and reliance on foreign aid to this leadership deficiency.
“How many of our leaders even understand basic economics to be able to run the affairs of their country?” he asked. “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.”
Addressing the theme, “African Renaissance in an Era of Turbulence: Are the Lions Still on the Move?” the former president argued that Africa’s democratic structure—heavily influenced by colonial systems—no longer suits the continent’s 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 said.
Obasanjo advocated for a return to traditional African governance principles based on consensus, communal values, and shared responsibility, suggesting they offer a more effective and culturally relevant alternative for inclusive leadership.
