Former Kogi West Senator, Dino Melaye, has berated President Bola Ahmed Tinubu, saying that his administration’s growing appetite for loans could soon extend to local fintech platforms like Opay and Moniepoint.
Speaking during an interview on ARISE Television on Monday, Dino Melaye accused the Tinubu-led government of reckless borrowing while failing to address the worsening hardship in the country.
“There is massive hunger in the land. Why is the president borrowing $1.7 billion from the World Bank? Why has the senate approved $21 billion so far with many others coming for consideration?” he asked.
The ex-lawmaker further described the administration as one of the “most reckless in Nigeria’s history,” pointing to what he called needless spending despite the economic crisis.
“This government is one of the most reckless governments in the history of this country. The president who said he wanted to come and curb wastages bought a yacht,” Maleye said.
“That yacht he bought has never been to the perimeters, the territorial areas of Nigeria—it’s been between Monaco and Paris. And what do we need a yacht for in a time of austerity and pervasive hunger?
He added that the borrowing spree has reached such a height that Nigerians would not be surprised if the president starts borrowing from fintech apps.
“He has borrowed like no other president in the history of the country. If you are making more money, then why are you borrowing? We will not be surprised if the president starts borrowing from Opay and Moniepoint very soon,” Maleye said.
His comments come amid growing criticism of the government’s debt profile. The African Democratic Congress (ADC) had earlier warned that Nigeria’s public debt could exceed ₦200 trillion before the end of the year if the borrowing trend continues.