Former President Olusegun Obasanjo has expressed optimism that Nigeria can regain its former prosperity if its leaders demonstrate the necessary qualities for building a great nation. According to him, strength of character, knowledge, and understanding are key to fostering collective progress for all Nigerians.
Obasanjo made this statement while speaking as a special guest at the exaugural lecture and book launch of veteran journalist Adedayo Oketola. He highlighted that Nigeria’s achievements during its “glorious years” were the result of seizing available opportunities, particularly in key sectors like telecommunications.
Reflecting on the telecommunications industry’s rapid growth, the elder statesman praised the impact of reforms that unlocked new opportunities for development. He cited Oketola’s book, The Catalyst: Nigerian ICT Evolution Through a Journalist’s Lens, as an insightful account of how strategic investments in the telecommunications sector have transformed the country.
“The story of mobile telecommunications in Nigeria is an interesting one,” Obasanjo said. “Before mobile telecommunications, we had spent a lot of money and invited companies from countries like the U.S., France, and Britain, but could not get more than 500,000 lines. People had to queue at telephone kiosks to call their loved ones abroad.”
He recounted how his administration resisted efforts to sell mobile licenses for just $3 million, opting instead for a competitive auction. The result was that the first three telecom operators paid $280 million each for their licenses, a stark contrast to the initial offer.
Obasanjo noted that this competition spurred the expansion of services by providers such as MTN, Glo, Econet, and later, Etisalat, which paid $450 million for its license. He emphasized that similar opportunities for national growth still exist, but they require a conducive environment for investment.
“The money to develop Nigeria is out there,” Obasanjo stated, “but it will only come in if we create the right atmosphere. Nigeria is still a land of great potential, a land flowing with milk and honey—not a land of insecurity or lack of prosperity.”
He concluded by calling for leaders to demonstrate honesty, character, and understanding to unlock Nigeria’s full potential and restore the nation’s prosperity.