Obasanjo comes down hard on some Americans as well as African leaders; “The amount of American treasury China is holding, if they unleash it on the world, America will feel it. …China not to blame, it is the stupidity of governments (in Africa) that go on borrowing with nothing to show for it.”
Nigeria’s former President Olusegun Obasanjo has declared that he feels insulted any time he is asked in America: “How are your new colonial masters.”
The question, according to Obasanjo, comes regarding the huge loans and investments the Chinese and Chinese Government are pouring into Africa, including Nigeria.
Speaking on “The Toyin Falola Interview,” he maintained that this is against the backdrop of a question whether the Chinese will not recolonise Africa going by the huge loans the Asian giant was giving to the continent.
Obasanjo said, “I feel insulted when they ask me in America: How are your new colonial masters doing?
“I should also ask you: how are your new Colonial masters? The amount of American treasury China is holding, if they unleash it on the world, America will feel it.
“China is making progress with its economy, buying our cocoa, etc higher than other parts of the world.
“I am not really worried about that. I will be worried if China does not pay heed to what it should be paying to: Start training Africans. Africans are capable of being trained.
“Don’t make it an all Chinese affair. If the Chinese are ready to do business with us, why will you ask me not to?
“And this will be with terms comfortable with me. They said the Chinese have taken over something in Zambia.
“It is the stupidity of governments that go on borrowing with nothing to show for it. For instance in Nigeria, I left government in 2007.
“I left after settling a quantum of debt. Over $30 billion. Left only a debt of $3.6 billion.
“But the debt has mounted again to over $30 billion. What have we done with it? We should not continue to behave irresponsibly and believe we can get away with it.
“If we got $20 billion debt relief and we have not learnt a lesson from that, they should teach us the bitter way.
“US can’t dictate to us who our friends should be.
“It is in our interest to keep our old friends, they should not teach us who our new friends should be.”
