Former Kogi West Senator, Dino Melaye has decried the rate of borrowing by President Bola Ahmed Tinubu.
Melaye said, Tinubu may soon borrow from Nigeria’s leading Fintech companies -Opay and Moniepoint if care was not taken.
He was reacting to the concerns raised by the Speaker of the House of Representatives Tajudeen Abbas over the rate of foreign loans by Tinubu’s administration.
Recently, the African Democratic Congress (ADC) said the new wave of borrowing will drive Nigeria’s public debt beyond N200 million before the end of the year.
In a statement by the National Publicity Secretary of the party, Mallam Bolaji Abdullahi, the ADC accused President Tinubu of surpassing his predecessors by mortgaging in country’s future in mountains of debts in the name of economic reform.
Featuring on ARISE Television’s Prime Time on Monday night, Melaye accused Tinubu’s government of worsening hunger and poverty in Nigeria, despite securing billions of dollars in foreign loans.
“There is massive hunger in the land Why is President borrowing $1.7 billion from the World Bank? Why has the Senate approved $21 billion so far with many others coming for consideration?”, he said.
Melaye alleged that the government has been reckless with spending, citing the controversial purchase of a Yacht.
“This government is one of the most reckless governments in the history of this country. The President who said he wanted to come and curb wastages bought a Yacht. That Yacht he bought has never been to the perimeters, the territorial areas of Nigeria – It’s been between Monaco and Paris. And what do we need a Yacht for in a time of austerity and pervasive hunger?
“He has borrowed like no other President in the history of the country. 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”, Melaye said
-9News Nigeria.
