According to An interview, Senator Dino Melaye, a former Kogi West lawmaker and outspoken critic of the current administration, has once again launched a scathing attack on President Bola Ahmed Tinubu’s handling of Nigeria’s economy. Speaking at a recent political gathering, Melaye lamented the government’s increasing reliance on borrowing, alleging that the administration has plunged the country into unprecedented levels of debt within just over a year in office.
According to Melaye, President Tinubu’s borrowing spree is not only unsustainable but also indicative of poor economic planning and lack of fiscal discipline. He ridiculed the administration, saying that Nigerians should not be shocked if the federal government eventually turns to fintech companies like Opay and Moniepoint for loans. This sarcastic remark was meant to underline the extent to which he believes the government has exhausted traditional borrowing avenues and strained Nigeria’s credit credibility.
Melaye argued that instead of devising innovative economic solutions to improve revenue generation and stimulate local production, the Tinubu-led government has consistently chosen the easy way out by resorting to loans. He insisted that the country cannot keep borrowing without a clear framework for repayment or visible developmental impact to justify such debts. “We have borrowed so much without accountability. The people cannot see the projects or industries that justify these loans. It is becoming clear that we are mortgaging the future of Nigerians yet unborn,” he said.
The former senator further criticized the current hardship faced by citizens, noting that inflation, high cost of living, and job losses have worsened since the implementation of Tinubu’s economic policies, such as fuel subsidy removal and floating of the naira. He claimed that these policies, without adequate cushioning measures, have deepened poverty and eroded the standard of living for millions of Nigerians.
Melaye called on civil society groups, opposition parties, and patriotic Nigerians to resist what he described as “reckless borrowing and economic mismanagement.” He stressed that continued silence would only embolden the government to further compromise the nation’s economic sovereignty.
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