Former president Olusegun Obasanjo has raised concerns about the unrest among youths due to unemployment, warning that Nigeria could be heading towards a crisis.
In an interview with the Financial Times, Obasanjo shared his worries, saying, “Our youth are restless because they lack skills, empowerment, and employment. We are on the brink of a major issue. My hope is that we address this before it’s too late.”
This statement follows the ongoing nationwide protests by youths demanding better governance amid widespread hunger and hardship.
Since August 1, protests have escalated with reports of violence and looting.
Obasanjo also criticized Nigeria’s heavy reliance on crude oil, calling it a “deadly mistake.” He argued that the country could have invested more in agriculture instead of solely focusing on oil production.
He recalled inviting Shell to manage Nigeria’s refineries during his presidency, but they refused due to concerns over corruption and poor maintenance. “We brought in amateurs instead of professionals, leading to extensive corruption,” he explained.
Obasanjo condemned the repeated failed promises to fix the refineries, stating, “Problems with government refineries have only increased. Without addressing these issues, progress is impossible.”
He also suggested that those profiting from fuel importation might try to hinder the success of the Dangote Petroleum Refinery. This comment came after Alhaji Aliko Dangote accused certain groups of trying to undermine his $20bn refinery project.
Obasanjo criticized President Bola Tinubu’s approach to removing fuel subsidies, arguing that the administration should have considered the resulting hardship and ways to mitigate it. He emphasized the need for a transformational economy to build investor confidence in Nigeria.
