Former President Olusegun Obasanjo has publicly mourned the passing of the late Ambassador Patrick Dele Cole, praising the diplomat’s pivotal role in securing Nigeria’s debt relief from the Paris Club of creditor nations.
Ambassador Cole, who served Nigeria in several diplomatic postings, was instrumental in the negotiations that led to the reduction of the country’s external debt burden in the mid‑2000s. His efforts helped Nigeria obtain a substantial debt write‑off, which was widely regarded as a turning point for the nation’s economic recovery.
In his tribute, Obasanjo recalled Cole’s dedication to public service and his commitment to advancing Nigeria’s interests on the international stage. The former president emphasized that Cole’s contributions continue to benefit the country’s fiscal stability and development agenda.
The Paris Club, an informal group of major creditor countries, granted Nigeria a debt relief package that lowered the nation’s outstanding obligations and freed up resources for social and infrastructure projects. The agreement, concluded during Obasanjo’s presidency, was a landmark achievement in Nigeria’s economic history.
Obasanjo’s remarks highlighted the lasting impact of Ambassador Cole’s work, noting that his legacy endures in the improved financial position and renewed confidence that followed the debt relief settlement.
<small>Source: Punch Nigeria — read the original story there.</small>