Former Kogi West Senator, Dino Melaye, has ridiculed President Bola Tinubu’s administration, claiming that its reckless borrowing spree could soon extend to Nigerian fintech firms like Opay and Moniepoint.
The Tinubu government has faced heavy criticism over its debt profile, with many warning that the country’s future is being mortgaged under the guise of reforms.
The African Democratic Congress (ADC) recently cautioned that Nigeria’s public debt may exceed N200 trillion before the year ends.
Its National Publicity Secretary, Mallam Bolaji Abdullahi, accused Tinubu of surpassing his predecessors in piling up unsustainable debts.
Appearing on ARISE Television on Monday, Melaye blasted the government for plunging citizens into severe hunger while still chasing foreign loans.
“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.
“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 wastage bought a yacht.
“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 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,” Melaye said.
