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Obasanjo Laments Nigeria’s Economy, Says Situation Frustrating

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Former President Olusegun Obasanjo has described the economic situation for many small businessmen and women in Nigeria as frustrating.

Obasanjo stated that the situation had made his friend, a legal luminary, Afe Babalola, to weep.

The former President said this at the Youth Development Centre of the Olusegun Obasanjo Presidential Library Credit Scheme held in Abeokuta on Wednesday.

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Obasanjo, during the programme, presented over N1m cheques to beneficiaries of the centres for start-up businesses.

While sharing his experience with some petty traders and youths, Obasanjo disclosed that many people who have ideas are in need of money to start-up businesses.

He lamented that many Nigerians are frustrated over failed businesses, adding that many of them had shared their horrible experiences and information with him.

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He said:

“Over the years, my own frustration which would be the same as the frustration of those that have attended the course, they found it as a very important course. I listened to those that have tried out businesses and failed and those who want to try; they called me to share experiences, share information and all that.

“But the frustration is that after the training, they yield to almost nothing and I do know that as for some of them, what they need is not millions but a few thousands of naira to start up or continue.”
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