Dino Melaye, former Kogi west senator, has accused President Bola Tinubu’s administration of reckless borrowing and wasteful spending.
Speaking on Prime Time, an Arise television programme, on Monday, Melaye said the government has plunged Nigerians into “massive hunger” despite securing billions of dollars in 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 others coming for consideration?” he asked.
“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?”
Melaye criticised Tinubu’s borrowing record, saying it is unprecedented in Nigeria’s history.
He questioned why the government continues to take loans despite claims of increased revenue.
“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,” he said.
The former lawmaker also alleged that Tinubu purchased a new presidential jet worth billions of naira without national assembly approval.
“Within a few months in office, the president bought a presidential jet that cost Nigeria billions,” he said.
“It was purchased, and it was not a gift. They called it a gift because the money used in purchasing it was not appropriated by the national assembly.”
Last month, the senate approved Tinubu’s request to borrow over $21 billion from external sources for the 2025–2026 fiscal years.
