Ex President Obasanjo is of the opinion that all political and military leadership Nigeria has ever had should be held responsible for its unending problems.
Delivering his speech, he said, "God has created Nigeria to be great. We must not blame God for where we are as a country. We must blame ourselves.
"African leaders are why Africa is poor. The beginning of not being poor is education. Not having a sense of history is like losing your memory. Your history is part of your identity."
On the red carpet, Obasanjo also recalled that he once played football as a kid, but failed in that sport, making him embrace squash, which he said he is still actively engaged in.
He advised younger Nigerians to have a sense of history, to learn more about their country and keep mind and body alive through participation in sports.
The former president attended the event alongside other dignitaries like former Cross River State Governor Mr Donald Duke and a representative of the information minister, Alhaji Lai Mohammed.
Duke and Obasanjo had a jocular exchange during the speech session at the event, with the former accusing the latter of being one of those Nigerian leaders who kept adding to Nigeria's number of States, making it difficult for kids to keep count and recall Nigeria's present 36 states, capitals, governors and geography.
Duke did not refer to Obasanjo by name.
"Donald Duke is a naughty boy", said Obasanjo minutes later, when hewas delivering his own speech. "I knew he was referring to me because he said one of those persons is in this room", Obasanjo added, to general laughter from the audience.
Obasanjo also referenced a conversation he had with Duke with regards to how intelligent his daughter, Mrs Williams, sounded.
"I told Duke I'm not surprised because it cost me money to educate all my children", he said, to another round of laughter from the audience.
Ethan and Harriet Founder, Williams, said the company will seek "to become the foremost educational toy designer and manufacturer in the world, re-orientating an African continent to be made up of caring citizens who are more aware of its heritage, willingly taking responsibility for and being devoted to her growth."
The event featured dance performances from school kids, depicting Nigeria's rich cultural heritage and diversity.