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By Oscar Okhifo
Former Kogi West Senator and chieftain of the African Democratic Congress (ADC), Dino Melaye, has taken a swipe at President Bola Ahmed Tinubu over the government’s rising debt profile, warning that the borrowing spree may soon extend to domestic fintech companies like Opay and Moniepoint.
Speaking on Arise Television’s Prime Time programme on Monday, Melaye accused the Tinubu administration of reckless borrowing and extravagant spending at a time Nigerians are grappling with severe economic hardship.
“The Senate has already approved over $21 billion for this government, and they are still processing another $1.7 billion World Bank loan,” Melaye stated. “With the way things are going, we will not be surprised if the president starts borrowing from Opay and Moniepoint very soon.”
The former lawmaker berated the administration for what he described as misplaced priorities, citing the purchase of a presidential yacht and a new aircraft for the presidential fleet.
According to him, the acquisitions were made despite Nigerians enduring hunger and economic pains, and in some cases, without proper legislative approval.
“A president who wants ordinary Nigerians to tighten their belt is living in luxury,” Melaye fumed. “He is driven in expensive cars like those of Donald Trump of the United States. He bought a new jet, a yacht was also bought, and in spite of the complaints against such reckless spending of public funds, the president has not stopped reckless spending and borrowing. Even after removing subsidy, he has borrowed more than his predecessors.”
When the programme anchor, Ndi Amugo, confronted Melaye with concerns raised by many Nigerians about his collection of state-of-the-art cars amidst widespread poverty, the former senator pushed back strongly.
“Go and fact-check me,” he retorted. “I did not buy those cars while in office as a member of the House of Representatives or as a Senator. I have never done any contract with or for any government—federal, state or local government. And I have never been invited by the EFCC or the ICPC.” With that response, Amugo had nothing more to add.
Melaye went further to demand an end to what he described as reckless borrowing, urging the Tinubu administration to prioritize policies that would relieve the economic suffering of ordinary citizens.
Asked if he would seek public office in 2027, Melaye was emphatic that his focus at the moment is not on political ambition. “My priority now is to educate Nigerians and to join patriots to save Nigeria from this race to calamity,” he said. He stressed that he would support any candidate with the courage and sincerity to return Nigeria to winning ways.
Melaye’s remarks underscore growing opposition concerns about the country’s debt burden and the government’s spending choices, particularly in the face of rising inflation and widespread poverty.