Former Nigerian President, Chief Olusegun Obasanjo, has called for a critical re-evaluation of Africa’s governance systems in order to unlock the continent’s full potential and advance what he described as the African Renaissance.
Obasanjo made this call while speaking at the 32nd Annual Meetings of the African Export-Import Bank (Afreximbank), held in Abuja on Thursday. His presentation was titled “African Renaissance in an Era of Turbulence: Are the Lions Still on the Move?”
Addressing an audience of continental leaders, policymakers, and stakeholders, Obasanjo argued that Africa’s developmental challenges stem, in part, from its continued reliance on governance models that are misaligned with its cultural and historical realities. He stressed that Western liberal democracy, inherited from colonial powers, has not delivered the desired outcomes for the continent and must be interrogated and adapted to better serve Africa’s unique needs.
“Our current system of governance promotes division between opposition and ruling parties, leading to fragmentation and self-interest,” he said. “This is not how we governed ourselves before colonisation. Traditional African systems emphasised communalism, collective decision-making, and inclusivity — principles we must revisit.”
He criticised the monetisation of politics on the continent, which he believes undermines democratic values and stifles genuine development. “Our democracy has been hijacked by money. The focus is no longer on the people or national interest, but on personal gain,” Obasanjo lamented.
Responding to the metaphorical question posed in his lecture theme — whether “the lions” of Africa are still on the move — Obasanjo acknowledged that while progress has been made, it is slow and uneven. The “lions,” as he defined them, are Africa’s leading nations: Nigeria, Egypt, Ethiopia, the Democratic Republic of Congo (DRC), South Africa, Kenya, Senegal, and Morocco — all of which possess considerable economic and demographic strength.
However, Obasanjo pointed out that countries such as Nigeria, Ethiopia, the DRC, and South Africa are falling short of expectations. “They are not moving at the pace required to lead Africa’s transformation. These nations should be the locomotive engines of continental progress, but they are currently underperforming,” he observed.
To change this trajectory, he called for visionary and knowledgeable leadership capable of navigating the complex global economic environment. “Our leaders must understand the dynamics of the modern world,” he stated. “We need informed leadership that can craft and implement the right policies — from community to national and continental levels — in alignment with global realities.”
He also warned against Africa’s continued dependence on foreign aid and external borrowing, noting that such reliance hampers self-sufficiency and sustainable development. “We run to China for 20 billion dollars — an amount that a single African country can generate internally. If we keep relying on others, we will never get it right,” he cautioned.
Obasanjo highlighted specific examples of progress across the continent, urging African nations to learn from one another and replicate successful initiatives. He cited Ethiopia’s achievement in attaining self-sufficiency in wheat production, which has now enabled the country to export to its neighbours. He also praised Afreximbank’s Pan-African Payment and Settlement System (PAPSS), which facilitates cross-border transactions in local currencies, as a major stride toward financial integration.
In addition, he commended the African Continental Free Trade Area (AfCFTA), describing it as a powerful platform for promoting intra-African trade, investment, and economic collaboration. According to him, initiatives like these demonstrate that African-led solutions can yield tangible results.
“In the areas where we have made progress, we must consolidate our gains and build upon them,” he said. “There are many lessons to learn from within our continent. When the lions begin to move as they should, the cubs — the smaller nations — will follow. That is how Africa will rise.”
Obasanjo concluded with an optimistic message: Africa can and must chart its own course towards sustainable development, unity, and prosperity — but only if its leaders are willing to revisit foundational values and commit to bold, informed action.