Former Kogi West Senator, Dino Melaye, has taken a swipe at President Bola Tinubu’s borrowing spree, warning that Nigeria’s leader may soon be forced to turn to fintech platforms like Opay and Moniepoint for loans.
Speaking on Arise Television’s Prime Time on Monday monitored by The News Chronicle, Melaye blasted Tinubu’s administration as “one of the most reckless governments in Nigeria’s history,” accusing it of piling up unsustainable debts while indulging in extravagant spending.
“Why is the president borrowing $1.7 billion from the World Bank? Why has the Senate approved $21 billion so far, with many others on the way?” Melaye asked, noting that even House Speaker Tajudeen Abbas, a ruling APC member, has raised alarm over the trend.
He lambasted Tinubu for purchasing a yacht “that has never touched Nigerian waters,” a new presidential jet allegedly acquired without parliamentary appropriation, and luxury vehicles, despite widespread hunger and economic hardship.
“In the name of curbing wastages, this president has bought a yacht, a Cadillac, an aircraft, and doubled the National Assembly’s budget,” Melaye said. “If you are making more money, why are you borrowing?”
The former senator insisted the so-called “gift” of a presidential jet was a cover-up, demanding transparency on who funded the purchase. He also mocked the administration’s claims of prudence: “Since Tafawa Balewa, every Nigerian leader used a Mercedes-Benz S-Class. Tinubu is rolling in the same German luxury Trump uses in America — and he says he’s cutting waste?”
Melaye warned that the borrowing binge is pushing Nigeria into dangerous territory. “We will not be surprised if the president starts borrowing from Opay and Moniepoint very soon,” he quipped.
