Special Adviser Media and Public Communication to President Bola Tinubu, Sunday Dare has described former Kogi West Senator, Dino Melaye as a “Chief political entertainer.”
Dare accused Melaye of trading substance for spectacle
during his interview on Arise Television’s Prime Time.
During the interview, Melaye had accused Tinubu’s
administration of recklessness, stressing that it may soon borrow loans from
Fintech companies, Opay and Moniepoint.
Posting on X, tagged: “Dino Malaye’s Debt Drama: Noise, Not
Knowledge,” Dare charged Melaye to acquaint himself with basic economics.
He said Melaye’s comments remained an entertainment and not
enlightenment until he acquainted himself with basic economics.
Dare informed the former lawmaker that borrowing is a
legitimate tool for financing growth and reforms.
He said: “In his latest television appearance, he cast
himself as Nigeria’s chief political entertainer, tossing around cheap jabs
about “borrowing from OPay and Moniepoint.
“But here are the facts: Nigeria’s total public debt stood at
₦149.39 trillion as of March 31, 2025, according to the Debt Management Office.
The jump from last year is not the result of reckless borrowing, but largely
the arithmetic of naira depreciation.
“When the currency adjusts, the naira value of existing external
debt rises—whether or not new loans are taken.
“Nigeria’s debt-to-GDP ratio remains a moderate 40–45%, well
below South Africa’s 70% or Ghana’s 90% plus. The real challenge lies in
revenue mobilization, not runaway borrowing.
“Encouragingly, revenues are improving, strengthening our
capacity to service obligations.
“Borrowing is a legitimate tool for financing growth and
reforms. What matters is sustainability, not soundbites. Unfortunately, Dino
prefers theatrics to truth.”
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