Veteran journalist and former presidential spokesman, Dr. Reuben Abati, has fired back at ex-Kogi West senator, Dino Melaye, over his recent criticism of President Bola Ahmed Tinubu’s economic policies, especially a sarcastic comment suggesting the government could soon be borrowing from financial technology firms like Opay and Moniepoint.
Speaking on Arise Television’s The Morning Show on Tuesday, Abati dismissed Melaye’s remarks as exaggerated and misleading, stressing that such fintech companies do not have the financial capacity to provide the kind of loans the Nigerian government would seek.
Melaye, who is a prominent figure in the opposition African Democratic Congress (ADC), had accused the Tinubu-led administration of recklessness in economic management. He particularly questioned the President’s earlier claim that the country had met its 2025 revenue targets and no longer needed to borrow domestically.
Taking a swipe at the government’s borrowing patterns, Melaye mockingly suggested that at the current pace, Tinubu’s administration might soon turn to platforms like Opay and Moniepoint for loans.
Reacting, Abati described Melaye’s comment as political grandstanding and not rooted in economic reality.
“Dino Melaye is a chieftain of the ADC, an opposition party, so you do not expect him to praise the Tinubu administration,” Abati said. “He is articulate and outspoken, but when he accuses the President of borrowing, we must also look at the facts.”
He explained that President Tinubu had clearly stated that Nigeria had improved its revenue generation, particularly from non-oil sources, and was not borrowing from Nigerian banks.
“So I’m surprised Melaye is talking about borrowing from Opay and Moniepoint. That’s not the kind of money the Nigerian government is looking for in terms of financial capacity,” Abati said.
The media personality also responded to Melaye’s claim that President Tinubu owned a luxurious yacht, supposedly purchased with taxpayers’ money and allegedly docked between Monaco and another undisclosed location.
Abati clarified that the issue of the so-called “Presidential Yacht” originated from the previous Buhari administration and was included in the 2023 Supplementary Budget.
“When the matter came up, the Navy clarified that the vessel referred to as the ‘Presidential Yacht’ was not for President Tinubu’s personal use, but rather a naval vessel used for security operations,” he explained.
“It was named a presidential yacht, but not meant for luxury. It was not acquired under Tinubu. But in politics, anything sensational can be twisted to suit a narrative,” he added.
Abati urged the public to verify political claims, especially those aimed at painting the current administration in a negative light for political advantage.
Nigeria’s economic policies under President Tinubu have drawn mixed reactions since the removal of fuel subsidies and the floating of the naira. While the government insists that its reforms are beginning to yield results through improved revenue, critics like Melaye argue that rising inflation and increased borrowing are signs of deeper trouble.
