Obasanjo rues failure of indigenization policy
Former President Olusegun Obasanjo on Thursday regretted that the indigenization policy he introduced as a military head of state did not succeed as planned.
Obasanjo said he believed then that there was no way to manage Nigeria’s economy except by indigenization.
The former president spoke in Benin City during a courtesy visit to Edo State Governor, Adams Oshiomhole.
He said, “One time you were living the life of a radical but now I have seen that you are now living the life of realism. But we all do that, because when I was head of state and I believed that there was no way to manage the Nigeria economy except by indigenization.
“And we have to work for indigenization, and the truth is that indigenization did not succeed as we wanted it to succeed. So when I had the opportunity and God gave me the second chance I learnt from my past and I became an apostle of genuine private sector led economic drive.
“And I do hope that the governor is learning the lesson I have learnt in the past. I can see the signs that the state which was ruined down before is now being run up. I commended the governor for that,” he said.
In a chat with journalists, Obasanjo said he has nothing to say on corruption and insecurity because he had been insulted severally over his previous comments.
He said, “I have flogged the issue of corruption internally and externally. I flogged it every day and some people go along with me because they agreed that it is a problem that we have to face squarely while some persons also accused me. Some people do all sort of things.”
“The point is that when you have a problem and you attempt to cover it you are not solving the problem if anything you are complicating it.
“On the issue of security I have talked about it. I have been called names and I have gone out on fact- finding missions and I have found out what is there and what is not there. I have talked and reported and I have nothing more to say,” he added.