ABUJA — Special Adviser on Media and Public Communication to President Bola Tinubu, Sunday Dare, has fired back at former Kogi West Senator, Dino Melaye, describing him as the “Chief political entertainer” of Nigeria.
Dare’s remarks came after Melaye, during an interview on Arise Television’s Prime Time, accused the Tinubu administration of recklessness, warning that it might soon resort to borrowing from Fintech companies such as OPay and Moniepoint.
In a post on X titled “Dino Malaye’s Debt Drama: Noise, Not Knowledge”, Dare dismissed Melaye’s comments as theatrics, urging him to “acquaint himself with basic economics” before speaking on the nation’s debt profile.
“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 wrote.
He explained that Nigeria’s debt situation was being misrepresented, stressing that the country’s total public debt stood at ₦149.39 trillion as of March 31, 2025, according to the Debt Management Office (DMO).
“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,” Dare said.
According to him, Nigeria’s debt-to-GDP ratio remains moderate at 40–45%, well below South Africa’s 70% or Ghana’s 90% plus, noting that the real challenge lies in revenue mobilization rather than 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,” Dare added.
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