Former Nigerian President, Chief Olusegun Obasanjo, has called for an urgent overhaul of Africa’s governance structure, declaring that the Western-style liberal democracy inherited from colonial masters is failing the continent.
Obasanjo made the call on Thursday while delivering a keynote address at the 32nd Annual Meetings of the African Export-Import Bank (Afreximbank) in Abuja.
The theme of the event was “African Renaissance in an Era of Turbulence: Are the Lions Still on the Move?”
The former President challenged African countries to revisit and draw lessons from their indigenous pre-colonial systems of governance, which he said were more inclusive, people-oriented, and less corrupt.
“Our system does not look at the opposition and the government. It should be a government of everyone working together. We had it before colonisation. Now is the time to say this system of opposition and ruling party isn’t working. It’s even failing those practising it,” Obasanjo said.
He stressed that the continent cannot experience a true renaissance unless it rethinks its political frameworks, urging African leaders to move beyond partisan politics and adopt governance systems tailored to Africa’s unique realities.
Obasanjo expressed concern that Africa’s so-called “lions”—countries with the largest economies and populations—are underperforming.
“The lions are moving, but not at the desired pace,” he said, naming Nigeria, Egypt, Ethiopia, South Africa, the Democratic Republic of Congo, Kenya, Senegal and Morocco as nations with the potential to lead the continent’s transformation.
“But how much of the world do our leaders understand?” he asked. “If we acquire the right knowledge, we’ll formulate the right policies—starting from the community to national and continental levels.”
Obasanjo praised success stories on the continent, including Ethiopia’s rapid progress in wheat production and the Pan-African Payment and Settlement System (PAPSS) initiated by Afreximbank, which allows cross-border transactions in local currencies. He also described the African Continental Free Trade Area (AfCFTA) as a major stride toward economic integration.
He concluded by stressing the need for Africa to learn from its own success stories and work collectively toward progress.
“When the lions begin to move in the right direction, the cubs will follow,” Obasanjo said.
The Afreximbank Annual Meeting, attended by leaders, economists and financial experts, focused on solutions for unlocking Africa’s economic potential amid global uncertainties.
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