Former Kogi West Senator, Dino Melaye, has once again taken a swipe at President Bola Ahmed Tinubu, mocking the administration’s unrelenting borrowing spree and warning that at the current pace, the government may soon resort to borrowing from local fintech companies such as Opay and Moniepoint.
During an interview on ARISE Television on Monday, Melaye accused the Tinubu-led administration of piling up debts recklessly while failing to alleviate the growing hunger and economic hardship in the country. He noted that Nigerians are suffering, yet the government continues to accumulate loans without clear accountability on how the funds are utilized.
“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 still pending for consideration? This government is mortgaging the future of generations yet unborn,” Melaye lamented.
The outspoken ex-lawmaker also described the Tinubu administration as one of the “most reckless governments in Nigeria’s history,” pointing to instances of extravagant spending amid biting economic realities. He specifically referenced the purchase of a luxury yacht, questioning its necessity at a time when millions of Nigerians can barely afford food.
“This government is one of the most reckless in the history of this country. The president, who claimed he came to stop wastages, went ahead to buy a yacht. That yacht has never even been to Nigeria’s territorial waters—it has been moving between Monaco and Paris. In a period of austerity and pervasive hunger, what use is a yacht to Nigerians?” Melaye asked.
He further ridiculed the government’s financial recklessness, suggesting that Nigerians should not be surprised if the presidency soon turns to fintech lending apps for loans. “He has borrowed like no other president in our history. If the government claims it is making more money from subsidy removal and taxes, then why the unending borrowing? At this rate, Nigerians won’t be shocked if Tinubu starts borrowing from Opay and Moniepoint very soon,” he quipped.
His remarks echo mounting concerns about Nigeria’s rising debt profile. The African Democratic Congress (ADC) had earlier warned that the country’s public debt could skyrocket beyond ₦200 trillion before the year ends if the reckless borrowing continues unchecked.
Melaye concluded by urging Nigerians, civil society groups, and the political opposition to wake up to the reality of the economic burden being created, stressing that unchecked loans would only deepen poverty while enriching a few at the top.