Senator Dino Melaye has criticized the administration of President Bola Ahmed Tinubu for what he described as reckless borrowing practices amid widespread economic hardship in Nigeria. Speaking on ARISE Television on Monday, Melaye accused the government of exacerbating hunger despite securing billions of dollars in loans.
He questioned the rationale behind borrowing $1.7 billion from the World Bank and noted that the Senate has already approved $21 billion in loans, with more under consideration. Melaye also cited the purchase of a presidential yacht, which he said has yet to operate within Nigeria’s territorial waters, as an example of fiscal mismanagement.
Melaye warned that if borrowing continues unchecked, the government might soon turn to private financial platforms such as Opay and MoniePoint to fund its activities. He described the current administration as among the most reckless in Nigeria’s history, urging accountability and fiscal prudence in the management of public resources.
Reported by: Stone Reporters News
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