The institute, which was inaugurated on Saturday, would serve as a cultural exchange centre between it and Nigeria in particular and Africa at large.
It will also serve as an exchange and resource centre for professional studies of Nigerian/African commerce and culture among students, artists, writers, educators and politicians. .
Speaking at the ceremony, Obasanjo identified corruption, insecurity, and infrastructure decay as major problems confronting the Africa.
Obasanjo said that almost every country in Africa had one form of security problem or the other,
pointing out that insecurity would not allow development to thrive.
On the security challenges facing Nigeria, Obasanjo said that government must properly identify the remote causes of the activities of the Boko Haram sect.
Obasanjo stressed the need for more attention to be placed on the improvement of infrastructure within the continent.
He said the issue of human development should not be such that the individuals were allowed to leave the continent and be servicing other land.
The former president, however, called on Nigerians living abroad to return home where their knowledge would best be utilised.
“We must develop people and retain them, we must encourage most of them that are in Diaspora, to move back home,” Obasanjo said.
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