Dino Melaye Warns Tinubu’s Government Against Reckless Borrowing, Says Nigeria May End Up In Loan Apps
FORMER lawmaker representing Kogi West Senatorial District, Senator Dino Melaye, has criticised President Bola Ahmed Tinubu’s administration over what he described as reckless borrowing and wasteful spending.
Speaking during an interview on Arise Television on Monday, Melaye warned that the government’s rising appetite for external loans could soon push Nigeria into seeking financial assistance from loan apps.
“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?” Melaye asked.
The former senator argued that the borrowing spree was unprecedented and contradicted Tinubu’s earlier pledge to reduce wastage. He pointed to the controversial purchase of a yacht, alleging that it was being used outside Nigeria’s territorial waters.
“That yacht he bought has never been to the territorial areas of Nigeria — it’s been between Monaco and Paris. What do we need a yacht for in a time of austerity and pervasive hunger?” he queried.
Melaye insisted that Tinubu had borrowed more aggressively than any of his predecessors.
“He has borrowed like no other president in the history of the country. If you are making more money, then why are you borrowing?” he asked.
Mocking the administration’s growing debt profile, Melaye added:
“We will not be surprised if the president starts borrowing from Opay and Moniepoint very soon.”
