Reckless borrowing may push Tinubu’s Govt to loan apps  —  Melaye

Former lawmaker representing Kogi West Senatorial District, Senator Dino Melaye, has accused President Bola Ahmed Tinubu’s medication of reckless borrowing and extravagant spending, informing that the inclination could soon propulsion the state into seeking loans from fiscal exertion platforms.

Speaking connected Arise Television connected Monday, Melaye said Nigeria was facing “massive hunger” contempt the government’s rising appetite for outer loans. He pointed to caller indebtedness requests, including a $1.7 cardinal installation from the World Bank, and the Senate’s support of astir $21 cardinal successful borrowing.

“There is monolithic hunger successful the land. Why is the president borrowing $1.7 cardinal from the World Bank? Why has the Senate approved $21 cardinal truthful acold with galore others coming for consideration?” helium asked.

The erstwhile lawmaker described the borrowing spree arsenic unprecedented, arguing that it contradicts the administration’s stated committedness to destruct waste. 

“This authorities is 1 of the astir reckless governments successful the past of this country. The president who said helium wanted to travel and curb wastages bought a yacht,” Melaye said.

He criticised the acquisition of the yacht, claiming it was being utilized extracurricular Nigeria’s territorial waters.

“That yacht helium bought has ne'er been to the perimeters, the territorial areas of Nigeria — it’s been betwixt Monaco and Paris. And what bash we request a yacht for successful a clip of austerity and pervasive hunger?” helium queried.

Melaye insisted that President Tinubu had borrowed much aggressively than immoderate of his predecessors. 

“He has borrowed similar nary different president successful the past of the country. If you are making much money, past wherefore are you borrowing?” helium asked.

Mocking the administration’s increasing indebtedness profile, helium added: “We volition not beryllium amazed if the president starts borrowing from Opay and Moniepoint precise soon.”

Vanguard News

The station Reckless borrowing whitethorn propulsion Tinubu’s Govt to indebtedness apps  —  Melaye appeared archetypal connected Vanguard News.