“We Will Not Be Surprised if the President Starts Borrowing from Opay and Moniepoint Soon” – Dino Melaye

Former senator Dino Melaye has criticized President Bola Tinubu’s administration over its borrowing practices, suggesting the government may soon turn to Nigerian fintech companies like Opay and Moniepoint for loans.

Speaking on ARISE Television on Monday, Melaye condemned the government for what he described as plunging Nigerians into widespread hunger despite securing billions of dollars in loans. He questioned the need for borrowing \$1.7 billion from the World Bank and highlighted that the Senate has already approved \$21 billion, with more loan requests pending.

Melaye also criticized the president for extravagance, citing the purchase of a yacht, which he said has only traveled between Monaco and Paris rather than serving Nigeria’s interests. He described the administration as one of the most reckless in the country’s history and warned that continued borrowing could see the government seeking funds from fintech companies.

The criticism comes amid growing concerns about Nigeria’s rising public debt. The African Democratic Congress (ADC) recently warned that ongoing borrowing could push the country’s debt beyond N200 trillion before the end of the year, accusing President Tinubu of mortgaging the nation’s future under the guise of economic reform.