- Tinubu’s Economic Achievements Overshadow Melaye’s Criticism – Tinubu Media Force
- Oluwagbenga described Melaye’s remarks as a skewed contribution to the national conversation
- The group accused him of hypocrisy
Following allegations by Dino Melaye that Nigeria’s borrowing under President Bola Ahmed Tinubu has risen sharply, the Tinubu Media Force has dismissed his claims as unserious, misleading, and lacking credible economic reasoning.
Eko Hot Blog reports that in a statement signed by its National Coordinator, Abiola Oluwagbenga, and released to journalists on Wednesday, the group described Melaye’s remarks as a skewed contribution to the national conversation.
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Oluwagbenga argued that Melaye deliberately focused only on borrowing figures while ignoring broader financial reforms and debt management strategies introduced by the Tinubu administration.
He noted that Melaye failed to acknowledge the government’s efforts in restructuring debt, boosting revenue mobilisation, and easing debt-servicing burdens inherited from past administrations.
Defending the administration, the group cited the full repayment of the ₦30 trillion ‘Ways and Means’ debt left behind by previous governments.
According to the statement, this milestone announced by President Tinubu in his October 2024 Independence Day address was achieved alongside healthy foreign reserves of $37 billion, a sharp fall in the debt-service-to-revenue ratio from 97% to 68%, and the clearance of a $7 billion forex backlog to stabilise the naira.
The group also questioned why Melaye omitted such achievements, stressing that Nigeria’s debt profile, which stood at ₦149.39 trillion as of March 31, 2025, has been managed transparently. The Debt Management Office (DMO), it added, has clarified that much of the increase is attributable to currency depreciation rather than reckless borrowing.
It further pointed out that Nigeria’s debt-to-GDP ratio of 40–45% remains moderate compared to South Africa’s 70% and Ghana’s 90%.
Reflecting on Melaye’s political record, the group accused him of hypocrisy, noting that as a senator, he never raised objections when past administrations engaged in heavy borrowing without repayment plans.
The Tinubu Media Force highlighted proactive measures currently being implemented, including a ₦4 trillion refinancing plan approved in August 2025 to clear liabilities in the power sector, and a $652 million loan secured from China Exim Bank to construct a strategic road corridor linking the Lekki Deep Sea Port and Dangote Refinery to southern trade routes.
According to the group, the power sector refinancing initiative is a practical response to Nigeria’s unstable electricity supply and a step that will attract investments, unlike Melaye’s “baseless criticisms,” which offered no realistic alternatives.
It also referenced other reforms such as the Nelfund student loan scheme, agricultural policies to reduce food prices, and the compressed natural gas framework designed to cut transportation costs. These, the group argued, are evidence that Tinubu’s fiscal policies are directly tied to improving citizens’ welfare.
Concluding, the Tinubu Media Force urged the President to remain focused on his reform agenda and vision for sustainable prosperity, insisting that the opposition must raise the quality of its arguments if it seeks to be taken seriously in national discourse.
