Former Kogi West senator, Dino Melaye, has accused President Bola Ahmed Tinubu’s administration of reckless borrowing and spending at a time when many Nigerians are struggling with hunger and hardship.
Speaking on Arise TV’s Prime Time programme on Monday, Melaye said the government has continued to take huge loans while citizens are finding it difficult to cope with rising food prices and the high cost of living.
“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?” Melaye asked.
He described Tinubu’s government as “one of the most reckless in Nigeria’s history,” accusing it of wasting public funds on unnecessary luxuries. According to him, the purchase of a presidential yacht was an example of such waste.
“That yacht has never been to Nigeria’s territorial waters—it’s been between Monaco and Paris. What do we need a yacht for in a time of austerity and pervasive hunger?” he questioned.
Melaye also criticised the president’s record of borrowing, saying it is unmatched in Nigeria’s history. He argued that the government’s justification for taking more loans is questionable, especially since it has also claimed that revenues are rising.
“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 jokingly.
The former lawmaker further alleged that Tinubu purchased a new presidential jet worth billions of naira without the approval of the National Assembly.
“Within a few months in office, the president bought a presidential jet that cost Nigeria billions,” Melaye said. “It was not a gift, as claimed. The money used in purchasing it was not appropriated by the National Assembly.”
Just last month, the Senate approved Tinubu’s request to borrow more than $21 billion from foreign lenders for Nigeria’s 2025–2026 budgets.
