Dino Melaye Mocks Tinubu’s Borrowing Spree, Says Govt May Soon Turn to Opay, Moniepoint for Loans

Former senator Dino Melaye has accused President Bola Tinubu of reckless financial mismanagement, warning that Nigeria’s debt burden may soon force the government to seek loans from fintech companies like Opay and Moniepoint.

Former senator Dino Melaye has ridiculed President Bola Tinubu’s administration over what he described as reckless borrowing, warning that Nigerians should not be shocked if the government eventually resorts to seeking loans from fintech companies such as Opay and Moniepoint.

Melaye, speaking on ARISE Television on Monday, criticized the government’s financial policies, accusing it of worsening hunger and hardship across the country despite receiving billions of dollars in 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 more requests on the way?” he asked.

The former lawmaker said Tinubu’s government has demonstrated unprecedented recklessness, citing the controversial purchase of a luxury yacht as an example of misplaced priorities.

“The president who claimed he came to cut wastage went ahead to buy a yacht. That yacht has never even been near Nigerian territorial waters; it has been between Monaco and Paris. What do we need a yacht for at a time of austerity and pervasive hunger?” Melaye questioned.

His remarks come as concerns mount over Nigeria’s rising debt profile. The African Democratic Congress (ADC) recently warned that the country’s debt could exceed ₦200 trillion before the end of 2025, accusing Tinubu of surpassing his predecessor by “mortgaging the nation’s future in mountains of debt under the guise of economic reform.”

Melaye insisted that the government’s actions are unjustifiable, noting that if revenues are truly increasing as the administration claims, then borrowing at this scale is indefensible.

“He has borrowed like no other president in the history of this country. If you are making more money, then why are you borrowing? We won’t be surprised if this government starts borrowing from Opay and Moniepoint very soon,” he said.

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