Former Nigerian President Olusegun Obasanjo recently highlighted the man-made nature of poverty in Africa, emphasizing that the continent has the resources needed to create wealth and overcome its economic challenges.
Speaking at the FESTAC Africa Festival in Kisumu, Kenya, Obasanjo warned African leaders that failing to address rising poverty could lead to serious consequences, particularly given the growing discontent among the continent’s youth.
Obasanjo criticized the historical exploitation of Africa, noting that the continent has been a source of wealth for others while remaining impoverished itself.
He argued that Africa’s ongoing economic struggles stem from a “poor mentality” and a failure to effectively utilize its abundant resources.
He also expressed skepticism about the relevance of World Bank programs like structural adjustment, which he felt did not align with African realities.
With over 429 million people living in extreme poverty in Africa as of 2024, according to Statista, Obasanjo stressed the urgency of taking action.
He warned that the continent’s youth, who are increasingly restless and dissatisfied, will not wait for long-promised improvements.
Obasanjo’s remarks serve as a call to action for African leaders to harness the continent’s potential and address the root causes of poverty.