former President olusegun obasanjo

Education And Good Governance Key TO African Trade Woes- Obasanjo

 Former Nigerian Presiden Olusegun Obasanjo, has said that ‘basic education’ and good governance will improve Inter-Africa trade . Obasanjo who spoke at the ongoing 24th ‘Annual General Meeting Of African Export-Import Bank'(AFREXIMBANK) on Friday in Kigali, said education should b e made available for everybody that it is the foundation for development.

The former president said that the least basic education is vital for every citizen so they can be able to read, write, express themselves and be useful to, themselves, their neighbours and to the country too.

Obasanjo also showed great concern for the lack of good governance in Africa as a result of corruption, licence and inconsistency in fiscal policies had restricted the growth of the African trade.


“When these stop, Africans will then begin to have basic needs of life and develop trade across borders.

“Thriving shipping companies owned by African countries and harmonised fiscal policies will lead to better life for Africans and a booming cross-border trade.

“A situation where an African fills two separate documents to enter another country will not help African trade, rather it will retard trade and development,’’ he said.

He appealed to African leaders to believe in their own, adding that a facility from Afreximbank, African Development Bank and others owned by Africans was better, than obtained elsewhere. He pleaded with African Leaders to believe in what’s theirs, adding that a facility from African Development Bank, AFREXIMBANK and other africa owned banks is far better than that outside.


He stressed that Western financial institutions like World Bank, IMF etc were all built to sooth the Westerners adding that they had “bitter pills an African must swallow’’

“No one can run away from the institutions’ bitter pills because the pills have been designed in such way that if you swallow it, you will fail and if you don’t, you will still fail.

“During my tenure as president of Nigeria, I told the then Central Bank of Nigeria (CBN) Governor Charles Soludo that when these institutions come don’t chase them away but just listen to them and learn how to deal with the overtures.

“So, I was able to study capitalism and approached our creditors to do something about my country’s debt, which was in billions of dollars and they listened. A large chunk of the debt was written off,” he said.

He said the problem of Africans was not weakness but their mindset about themselves.

he said Africans should stop saying to these institutions; ‘just help me, I am in a problem without understanding what his country wants before taking a facility’?

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