Dino Melaye
Former Kogi West Senator, Dino Melaye, has expressed grave concern over what he described as the excessive borrowing trend of President Bola Ahmed Tinubu’s administration.
Speaking on Arise Television’s Prime Time on Monday night, Melaye warned that if the borrowing pattern continues unchecked, the Federal Government might soon be compelled to seek loans from financial technology giants such as Opay and Moniepoint.
Melaye’s remarks came on the heels of a caution raised by the Speaker of the House of Representatives, Tajudeen Abbas, regarding Nigeria’s rising debt profile.
The outspoken politician queried the rationale behind Tinubu’s request for a $1.7 billion World Bank facility, alongside Senate approvals amounting to over $21 billion in foreign loans since the beginning of the administration.
“This government is fast proving to be one of the most reckless in our history,” Melaye declared. “How does a president who promised to cut wastefulness justify the purchase of a luxury yacht that has never even touched Nigerian waters, reportedly stationed between Monaco and Paris?”
He further lambasted the acquisition of a new presidential aircraft, which he alleged was funded without National Assembly appropriation. According to him, the explanation that the jet was a “gift” was untenable.
Melaye drew comparisons with past Nigerian leaders, noting that since the era of Tafawa Balewa, Azikiwe, and Buhari, official vehicles were modest Mercedes Benz S-Class models. “Today, the presidency opts for German luxury models like those used in America, while millions of Nigerians struggle under biting hunger,” he argued.
The former lawmaker also condemned the increment of the National Assembly budget from N150 billion during the 8th Senate to over N300 billion, describing it as a deliberate move to compromise the legislature.
“A government that claims to be renewing hope is instead buying yachts, aircraft, and increasing recurrent spending while deepening Nigeria’s debt trap. If truly revenue has increased, why then the endless borrowing?” he asked.
Melaye concluded with a sharp warning that unless the current trend is reversed, Nigerians should brace up for the day their government might “borrow from Opay and Moniepoint.”
