Sunday Dare, Special Adviser on Media and Public Communication to President Bola Tinubu, has mocked former Kogi West Senator Dino Melaye, describing him as Nigeria’s “Chief Political Entertainer.”
The presidential aide reacted after Melaye, during an appearance on Arise TV Prime Time, accused the Tinubu administration of recklessness and joked that the government might soon resort to borrowing from fintech firms like Opay and Moniepoint.
Dare’s Response
Taking to X on Tuesday, Dare wrote under the caption “Dino Melaye’s Debt Drama: Noise, Not Knowledge”, urging the ex-lawmaker to brush up on basic economics.
“In his latest television appearance, he cast himself as Nigeria’s chief political entertainer, tossing around cheap jabs about ‘borrowing from OPay and Moniepoint,’” Dare said.
He argued that Melaye’s comments were more about spectacle than substance, insisting that borrowing remained a legitimate tool for financing growth and reforms.
Nigeria’s Debt Position
Citing official data, Dare noted that Nigeria’s public debt stood at ₦149.39 trillion as of March 31, 2025, according to the Debt Management Office.
He explained that the rise in figures was largely due to the arithmetic of naira depreciation, not reckless borrowing.
“When the currency adjusts, the naira value of existing external debt rises—regardless of new loans,” he clarified.
According to him, Nigeria’s debt-to-GDP ratio remains moderate at 40–45%, far below South Africa’s 70% or Ghana’s 90%+.
Focus on Revenue, Not Rhetoric
Dare stressed that the real issue for Nigeria is revenue mobilization, not “runaway borrowing,” adding that government revenues are already improving.
“Borrowing is a legitimate tool for financing growth and reforms. What matters is sustainability, not soundbites. Unfortunately, Dino prefers theatrics to truth,” he concluded.
