Former Senator representing Kogi West, Dino Melaye, has launched a strong critique against President Bola Tinubu’s administration, focusing on its high rate of borrowing and what he describes as reckless spending.
Melaye expressed his concerns during an appearance on Arise Television’s Prime Time programme, reacting to similar apprehensions recently voiced by the Speaker of the House of Representatives, Tajudeen Abbas.
Melaye questioned the necessity of the government seeking a $1.7 billion loan from the World Bank and highlighted that the Senate has already approved $21 billion in foreign loans, with more requests anticipated.
He labelled the current government as one of the most fiscally irresponsible in Nigeria’s history, pointing to several purchases made amidst severe economic hardship and widespread hunger.
Specifically, he cited the acquisition of a presidential yacht, which he claims has never entered Nigerian waters and remains between Monaco and Paris, and the purchase of a new presidential jet costing billions of naira. Melaye firmly dismissed official claims that the jet was a gift, arguing that gifts must be declared by law. He suggested the “gift” label was used because the funds for the aircraft were not appropriated by the National Assembly, thereby bypassing legislative oversight.
Furthermore, Melaye criticised the president’s use of an expensive Mercedes-Benz vehicle and the doubling of the National Assembly’s budget from N150 billion to over N300 billion.
He concluded by sarcastically warning that if the borrowing continues at its current pace, the government might soon seek loans from Nigerian fintech companies like Opay and Moniepoint.
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cc: Daily Post NG
