Obasanjo made the comments on Tuesday, September 27, during the 2016 World Pension Summit in Abuja.
According to Obasanjo, the governor’s refused to allow him save excess oil funds during his tenure.
The former president made the comments on Tuesday, September 27, during the 2016 World Pension Summit in Abuja.
“I remember when I was in government and I told, particularly, the governors, ‘please let us save for the rainy days.’ They said no!” Obasanjo said according to Vanguard.
“There was no rain at that time, now that the rain has come; there is nothing we can fall back on to cushion us.
“One of the things that makes me very happy in the pension scheme is that in the last five years, when almost everything goes, concerning public funds, pension funds remain sacrosanct. I believe that the pension funds are something we must preserve, no matter what we do,” he added.
Obasanjo had earlier blamed former president, Goodluck Jonathan for the current recession saying that the Jonathan government was spending more than Nigeria was earning.