"Dino Melaye Declares Potential Lending Scenario from Opay and Moniepoint by Tinubu Might Not Be Unexpected"

In a series of bold accusations, former Senator Dino Melaye has criticised the Tinubu administration for its borrowing practices, labelling it as one of the most reckless in Nigeria's history.

Melaye, in an interview on ARISE Television's 'Prime Time', accused the Tinubu government of plunging Nigerians into massive hunger despite securing billions of dollars in loans. He questioned why President Tinubu, who is making more money, is still borrowing, and even suggested that the President may borrow from loan apps like Opay and Moniepoint.

The scrutiny of the Tinubu administration's borrowing practices is intense. The Senate has approved $21 billion in loans so far, with more coming for consideration. However, Melaye alleges that President Tinubu has borrowed more than any other president in the country's history, and has even purchased a yacht, although there is no verified information on whether this yacht has ever been to Nigeria.

The African Democratic Congress (ADC) has predicted that the new wave of borrowing will drive Nigeria's public debt beyond ₦200 trillion by the end of 2025. This prediction remains unchanged. The ADC accuses President Tinubu of mortgaging the country's future in mountains of debts in the name of economic reform.

Melaye's comments come amidst growing concerns about the nation's debt levels. While the Tinubu administration maintains that the loans are necessary for economic growth and development, critics like Melaye argue that the borrowing is unsustainable and could lead to economic instability.

As the debate continues, one thing is clear: the future of Nigeria's economy hangs in the balance, and the decisions made by the Tinubu administration will have far-reaching implications for the nation's future.