Former Kogi West Senator, Dino Melaye, has taken a swipe at President Bola Ahmed Tinubu, cautioning that the administration’s rising appetite for loans may soon extend to fintech firms like Opay and Moniepoint.
Speaking on ARISE Television on Monday, Melaye accused the government of reckless borrowing while citizens face deepening economic hardship.
“There is massive hunger in the land. Why is the president borrowing $1.7 billion from the World Bank? Why has the Senate already approved $21 billion, with more requests on the way?” he asked.
He described the Tinubu government as one of the “most reckless” in Nigeria’s history, pointing to what he termed needless spending, including the purchase of a presidential yacht.
“The president, who claimed he came to block wastage, went ahead to buy a yacht. That yacht has never been to Nigerian waters—it has been between Monaco and Paris. What do we need a yacht for at a time of austerity and hunger?” Melaye said.
Mocking the scale of borrowing, he argued that Nigerians should not be surprised if the government begins to seek loans from mobile money platforms.
“He has borrowed more than any president in history. If revenue is increasing, why continue borrowing? Soon, we may see him borrowing from Opay and Moniepoint,” he added.
Melaye’s criticism comes as concerns mount over Nigeria’s debt profile, with the African Democratic Congress (ADC) warning that public debt could rise above ₦200 trillion before the end of the year if the borrowing continues.
