Dino Melaye Slams Tinubu’s Borrowing Strategy, Warns Government Could Turn to Local Fintechs
Former Senator Dino Melaye has launched a sharp critique of President Bola Tinubu’s borrowing practices, warning that the administration’s financial recklessness could soon extend to Nigerian fintech companies like Opay and Moniepoint.
Speaking on ARISE Television on Monday, September 8, 2025, Melaye questioned how a government that claims to be tackling wasteful spending continues to accumulate debt while making luxury purchases. He asked:
“Why is the president borrowing $1.7 billion from the World Bank? Why has the Senate approved $21 billion so far, with many others pending?”
Melaye also condemned recent extravagant expenditures by the administration, highlighting the acquisition of a yacht—which reportedly ferries between Monaco and Paris rather than operating in Nigerian waters—and the purchase of a presidential jet, criticizing such spending amid economic hardship and widespread hunger.
Describing the administration as “one of the most reckless governments in the history of this country,” Melaye argued that excessive borrowing undermines its reformist message:
“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.”
His comments reflect growing concern over Nigeria’s rising public debt and raise questions about the government’s borrowing priorities. The suggestion that local fintechs could become a source of government funding underscores broader worries about fiscal sustainability and economic governance in the country.
Former Senator Dino Melaye has launched a sharp critique of President Bola Tinubu’s borrowing practices, warning that the administration’s financial recklessness could soon extend to Nigerian fintech companies like Opay and Moniepoint.
Speaking on ARISE Television on Monday, September 8, 2025, Melaye questioned how a government that claims to be tackling wasteful spending continues to accumulate debt while making luxury purchases. He asked:
“Why is the president borrowing $1.7 billion from the World Bank? Why has the Senate approved $21 billion so far, with many others pending?”
Melaye also condemned recent extravagant expenditures by the administration, highlighting the acquisition of a yacht—which reportedly ferries between Monaco and Paris rather than operating in Nigerian waters—and the purchase of a presidential jet, criticizing such spending amid economic hardship and widespread hunger.
Describing the administration as “one of the most reckless governments in the history of this country,” Melaye argued that excessive borrowing undermines its reformist message:
“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.”
His comments reflect growing concern over Nigeria’s rising public debt and raise questions about the government’s borrowing priorities. The suggestion that local fintechs could become a source of government funding underscores broader worries about fiscal sustainability and economic governance in the country.
Dino Melaye Slams Tinubu’s Borrowing Strategy, Warns Government Could Turn to Local Fintechs
Former Senator Dino Melaye has launched a sharp critique of President Bola Tinubu’s borrowing practices, warning that the administration’s financial recklessness could soon extend to Nigerian fintech companies like Opay and Moniepoint.
Speaking on ARISE Television on Monday, September 8, 2025, Melaye questioned how a government that claims to be tackling wasteful spending continues to accumulate debt while making luxury purchases. He asked:
“Why is the president borrowing $1.7 billion from the World Bank? Why has the Senate approved $21 billion so far, with many others pending?”
Melaye also condemned recent extravagant expenditures by the administration, highlighting the acquisition of a yacht—which reportedly ferries between Monaco and Paris rather than operating in Nigerian waters—and the purchase of a presidential jet, criticizing such spending amid economic hardship and widespread hunger.
Describing the administration as “one of the most reckless governments in the history of this country,” Melaye argued that excessive borrowing undermines its reformist message:
“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.”
His comments reflect growing concern over Nigeria’s rising public debt and raise questions about the government’s borrowing priorities. The suggestion that local fintechs could become a source of government funding underscores broader worries about fiscal sustainability and economic governance in the country.
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