NewStats: 3,261,318 , 8,173,669 topics. Date: Wednesday, 28 May 2025 at 08:02 PM 455c3m

Former VP Osinbajo says Africa is facing its worst debt crisis in 80 years, coupled with alarming insecurity and rising poverty

Former Vice-President Yemi Osinbajo, on Monday, in Freetown, Sierra Leone, said Africa is in the throes of the worst debt crisis in 80 years, stressing that the economic distress was accompanied by an alarming surge in insecurity.

He said, since the COVID-19 pandemic, an estimated 55 million more Africans had slipped into poverty, with 39 million falling into extreme poverty.

According to him, youth unemployment was staggering, with up to a quarter of young Africans neither in education, employment, nor training, stressing that, simultaneously, 20 of the 39 African countries eligible for concessional borrowing were at the high risk of, or already in debt distress.


He, however, noted that elections alone do not constitute democracy, but that, “True democracy delivers dignity – food on the table, education for children, safety in our streets, and hope for the future.”

Osinbajo, who spoke as keynote speaker at a colloquium to mark the 61st birthday of President Julius Maada Bio, addressed the theme: “From Vision to Impact: The People-Centered Leadership Model.”

According to him, African leaders must adopt people-centred governance, “a development paradigm that places the needs and voices of the vast majority – particularly those at the bottom of the pyramid – at the heart of policymaking.”

This, he said, “is a call to reimagine leadership – not as the power to rule, but as the duty to serve.

Across Africa, Osinbajo said, countries were striving for structural transformation while grappling with growing poverty, unemployment, and debt.


“Since the COVID-19 pandemic, an estimated 55 million more Africans have slipped into poverty, with 39 million falling into extreme poverty. Youth unemployment is staggering, with up to a quarter of young Africans neither in education, employment, nor training.

Simultaneously, 20 of the 39 African countries eligible for concessional borrowing are at high risk of, or already in debt distress. Africa is in the throes of the worst debt crisis in 80 years. This economic distress is accompanied by an alarming surge in insecurity,” he said.


The Sahel, Osinbajo lamented, “has become home to the world’s fastest growing and deadliest terrorist groups, ing for nearly half of deaths from global terrorism. West Africa alone is reeling from waves of insurgencies, armed banditry, and kidnappings. Add to this the democratic backsliding we are witnessing—coup d’états in Burkina Faso, Mali, Guinea, and Niger.”

These reversals, Osinbajo argued, “threaten the democratic progress we made in the early 2000s. And disturbingly, segments of society are becoming more accepting of unconstitutional changes because they feel democracy has failed to improve their lives.

The reality is stark: a growing number of Africans, especially young people, feel alienated, angry, and unseen. From the #EndSARS and #EndBadGovernance protests in Nigeria to the 15 Gen Z uprising in Kenya, there is a mounting frustration with governance.


“Voter turnout is declining. Extremist groups exploit the despair of the jobless. And across the continent, people question whether government exists for them at all.”[/b]Atl.

But it is not all gloom and doom, according to Osinbajo.

[b]“The good news is that the vast majority of our people do not want military rule. In 2023, the UNDP conducted a Perception Survey of 8,000 African citizens in order to better understand how citizens felt about military coups. A key question they asked was what their preferred option for governance was.

Most citizens said that democracy remained their preferred style of government. In fact, only 11% of the citizens in countries that had experienced unconstitutional changes of government preferred non-democratic forms of government.

“So, the issue is not democracy, it is how the political practitioners of democracy can ensure that the government of the people by the people for the people does not forget the aches and pains of the people

To make people-centred governance work we must move decisively from top-down elite focused strategies to bottom-up, inclusive development. But the first requirement is political will. Is government at the highest level committed to governance that ensures that the bottom of the pyramid will be the first consideration in policy and planning?

“Indeed, the distinguishing feature of states that have grown successfully and nurtured democracy is leadership that has a vision for society and that can effectively demonstrate its commitment to growth, social development and the provision of public services. So, the leadership class must reframe the national discourse and come up with a mobilising idea for society such as an ideology of democratic development.”

In his speech at the occasion attended by government officials, diplomats, civil society leaders, and politicians, President Bio highlighted his primary goals in leadership to include improving human capital development, promoting gender equality, and strengthening democratic institutions.

The colloquium, he promised, would be an annual event to provoke conversations about leadership anchored on good governance and the rule of law not only in Sierra Leone but across the African continent.

https://www.arise.tv/osinbajo-africa-faces-worst-debt-crisis-in-80-years-with-rising-insecurity/

Cc mynd44 lalasticlala seun

True, more people will go into poverty in Africa, leaders are not focused and disoriented

yes great info

TheRareGem1:
Former VP Osinbajo says Africa is facing its worst debt crisis in 80 years, coupled with alarming insecurity and rising poverty

Former Vice-President Yemi Osinbajo, on Monday, in Freetown, Sierra Leone, said Africa is in the throes of the worst debt crisis in 80 years, stressing that the economic distress was accompanied by an alarming surge in insecurity.

He said, since the COVID-19 pandemic, an estimated 55 million more Africans had slipped into poverty, with 39 million falling into extreme poverty.

According to him, youth unemployment was staggering, with up to a quarter of young Africans neither in education, employment, nor training, stressing that, simultaneously, 20 of the 39 African countries eligible for concessional borrowing were at the high risk of, or already in debt distress.


He, however, noted that elections alone do not constitute democracy, but that, “True democracy delivers dignity – food on the table , education for children, safety in our streets, and hope for the future.”

Osinbajo, who spoke as keynote speaker at a colloquium to mark the 61st birthday of President Julius Maada Bio, addressed the theme: “From Vision to Impact: The People-Centered Leadership Model.”

According to him, African leaders must adopt people-centred governance, “a development paradigm that places the needs and voices of the vast majority – particularly those at the bottom of the pyramid – at the heart of policymaking.”

This, he said, “is a call to reimagine leadership – not as the power to rule, but as the duty to serve.

Across Africa, Osinbajo said, countries were striving for structural transformation while grappling with growing poverty, unemployment, and debt.


“Since the COVID-19 pandemic, an estimated 55 million more Africans have slipped into poverty, with 39 million falling into extreme poverty. Youth unemployment is staggering, with up to a quarter of young Africans neither in education, employment, nor training.

Simultaneously, 20 of the 39 African countries eligible for concessional borrowing are at high risk of, or already in debt distress. Africa is in the throes of the worst debt crisis in 80 years. This economic distress is accompanied by an alarming surge in insecurity,” he said.


The Sahel, Osinbajo lamented, “has become home to the world’s fastest growing and deadliest terrorist groups, ing for nearly half of deaths from global terrorism. West Africa alone is reeling from waves of insurgencies, armed banditry, and kidnappings. Add to this the democratic backsliding we are witnessing—coup d’états in Burkina Faso, Mali, Guinea, and Niger.”

These reversals, Osinbajo argued, “threaten the democratic progress we made in the early 2000s. And disturbingly, segments of society are becoming more accepting of unconstitutional changes because they feel democracy has failed to improve their lives.

The reality is stark: a growing number of Africans, especially young people, feel alienated, angry, and unseen. From the #EndSARS and #EndBadGovernance protests in Nigeria to the 15 Gen Z uprising in Kenya, there is a mounting frustration with governance.


“Voter turnout is declining. Extremist groups exploit the despair of the jobless. And across the continent, people question whether government exists for them at all.”

But it is not all gloom and doom, according to Osinbajo.

“The good news is that the vast majority of our people do not want military rule. In 2023, the UNDP conducted a Perception Survey of 8,000 African citizens in order to better understand how citizens felt about military coups. A key question they asked was what their preferred option for governance was.

Most citizens said that democracy remained their preferred style of government. In fact, only 11% of the citizens in countries that had experienced unconstitutional changes of government preferred non-democratic forms of government.

“So, the issue is not democracy, it is how the political practitioners of democracy can ensure that the government of the people by the people for the people does not forget the aches and pains of the people

To make people-centred governance work we must move decisively from top-down elite focused strategies to bottom-up, inclusive development. But the first requirement is political will. Is government at the highest level committed to governance that ensures that the bottom of the pyramid will be the first consideration in policy and planning?

“Indeed, the distinguishing feature of states that have grown successfully and nurtured democracy is leadership that has a vision for society and that can effectively demonstrate its commitment to growth, social development and the provision of public services. So, the leadership class must reframe the national discourse and come up with a mobilising idea for society such as an ideology of democratic development.”

In his speech at the occasion attended by government officials, diplomats, civil society leaders, and politicians, President Bio highlighted his primary goals in leadership to include improving human capital development, promoting gender equality, and strengthening democratic institutions.

The colloquium, he promised, would be an annual event to provoke conversations about leadership anchored on good governance and the rule of law not only in Sierra Leone but across the African continent.


https://www.arise.tv/osinbajo-africa-faces-worst-debt-crisis-in-80-years-with-rising-insecurity/

Cc mynd44 lalasticlala seun

The reality facing many African countries with their financially reckless leaders is really sad. Many just mortgaged their country into financial slavery. Avoid IMF and all these Brentwood institutions @ all cost.

thank God Tinubu is clearing our own

A good presidential material.
In Nigeria the wrong people struggle to get into position

Osinbajo, smart dude. We miss you

Osinbajo, welcome to the coalition

Great Speech.
Yet the brand of democracy that is practiced in Nigeria is when people vote agbero, fraudsters, people of questionable character and people with skulls and skeletons in their closet all because of their charisma in place of people with good honest intentions

ebola tunibu and his demonic agency will attack Obj on this

Ok we have heard you.

You and your boss ruled fore 8 years herdsmen became the Prime Minister, cow becme number 1 citizen and we heared give your land to herdsmen or die then you didn't come out to say all these.

Thanks sir, its too late.

Next topic pls..

Intelligent VP

Africa debts is not even a quarter of USA debts

If you haven’t realized that it’s the wish and mandate of the west for Africa to never be free, to never be stable…. Then you haven’t been paying attention to history, to the current and the future

See a good presidential product we missed....It wil not be well with that Inec charlatan called Yakubu

.

Instead of Ronus to give us this guy, they gave us that Drug Lord and wonder why nobody respects them.

watin he do when he was there

Meenie2:
Osinbajo, smart dude. We miss you

Emmanuel900:
Africa debts is not even a quarter of USA debts

And?

Do you know how much the average billionaire like Dangote owes? Does it imply your status is better than his simply because he's owes more debt than you?

if these debts were used for common good there would't be cause for alarm but more than 90% of these debts are looted by these rulers.
Africa look cursed because despite all the abundance mineral resources, their citizens are still poor.

One of the brightest Nigerian minds that APC robbed Nigeria of. If buhari had sense he would have named this man as a successor at least one year before leaving office and aslked Asiwaju to protect him politically because he is a good but doesn’t know how to play the dirty and bloody Nigerian politics. It was from him I fist heard the term modular refineries and how it will work in Nigeria, during then three months he acted as president dollar fell from five hundred and something to three hundred and something, was calling meetings of heads of agencies and parastatal weekly to brief Nigerians on what they have done, visited owerri prisons next day after it was burnt by UGM, rejigged the security apparatus that they cleared boko haram from lake Chad which was their weapons smuggling link etc that the head of APC north east called on buhari to hand over power to Osibanjo but buhari came back sacked the APC regional chairman that made that statement, reinstated all the DSS and security apparatus Osibanjo changed and severely cut off Osibanjo power to act ever again

Look at this this way, Africa keep getting poor because It keeps budgeting too much for insecurity. Why don't Africa ditch insecurity to start the beginning of the incessant poverty?

Who enjoys the insecurity? Those who use its budget to weild themselves and those who gain today but lose tomorrow. Those who seize people and goods for ransom. Those who have themselves only in mind, but no regards for others.

Can insecurity be curbed? Yes, when we start embracing peace and shunning corruption and 'voulens'. Can we do that? Yes!

Can we develop after? Yes?

Osinbajo was one of the change agents who heaped heavy debts on Nigeria through heavy curruption with his principal Buhari while Emilokan the druggie is at the point of burying Nigeria pata-pata with heavy inflation.

Osinbajo was referring to Nigeria in his speech but used Africa instead. Dude doesn't like Bulaba at all.

WHAT IS HE SAYING

Educated failed leader

He knows what to do…

long time Pa bajo

Demarketing Nigeria and demarketing Africa!
Since it's a crime to say the truth in this regime.
First is Peter Obi, second is Akinwumi Adesina, then Osinbajo now.
This is treasonable and they must face charges for demarketing Nigeria and Africa!!
Always lying to prove their points.

Abeg help us tell Bulaba