Watch The Kind Of Help You Ask For – Obasanjo Warns African Leaders Over Foreign Aid

Former President Olusegun Obasanjo has warned African nations to carefully evaluate the conditions associated with foreign assistance.

He warned that the wrong kind of aid can leave countries economically trapped and unable to pursue independent development.

Naijaonpoint reports that Obasanjo spoke on Wednesday at the public presentation of a book titled, ‘The Ibru Story: An Account of a Pioneering Nigerian Business Family,’ a biography chronicling the life and business legacy of the late industrialist, Michael Ibru, held at the MUSON Centre, Onikan, Lagos.

Drawing from Nigeria’s support for Angola during the administration of the late President Agostinho Neto, Obasanjo recalled how Michael Ibru encouraged him to explore investment opportunities in Angola’s fishing industry after Nigeria provided the country with $20m in assistance.

He said Neto later explained that Soviet influence over Angola’s economy had effectively shut out other investors.

“The Soviets are advising us, and they are exploiting their fish. If they are the ones exploiting the fish and they are also the ones advising, where is the chance for anybody else to come in?” Obasanjo quoted Neto as saying.

“When you are asking for help, you must watch the type of help you seek and the type of help you get. Angola got help from the Soviet Union, but it was the help that choked Angola in the throat. Angola had no chance to do anything with anybody else,” he said.

Obasanjo also reflected on Michael Ibru’s management philosophy, recalling how the late businessman advised him against micromanaging every aspect of an organisation.

He described Ibru’s enduring legacy as one built on discipline, determination, and family unity, urging members of the Ibru family to preserve those values.

“This family must be held together at all costs. We should never be tired of bringing everybody together. That will be a good legacy,” Obasanjo added.