Answer:
Ending segregation which ensured equal rights for people with black or colored skin with their white counterparts.
Step-by-step explanation:
The long term effects of of the Montgomery bus boycott as explained by President Obama in his speech, was the tearing down of the walls of segregation which provided equal rights for people with black or colored skin and their white coloured counterparts.
The text that supports this answer is found in the portion of the text reproduced below:
'And with that victory, the edifice of segregation, like walls of ancient Jericho, began to slowly come tumbling down.
Equal rights for all later provided the platform on which Obama later contested for and won the presidency of the United States of America.