Former Nigerian president Olusegun Obasanjo has cautioned African nations against depending on the World Bank and IMF, stating that these institutions were not created to prioritize Africa’s interests.

Addressing the Intra-Africa Trade Fair in Algeria, he encouraged leaders to prioritize intra-African trade and regional integration for sustainable development.

“The World Bank and IMF are not for us. Understanding this will guide our approach to them,” he remarked. He also advocated for increased use of local currency in trade to lessen reliance on the US dollar and alleviate pressure on African currencies.

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