The Tinubu Media Force has hailed President Bola Tinubu’s financial reforms and debt management strategies, saying the economy is being revamped by his administration’s policies.
The National Coordinator of TMF, a support group for the President, Oluwagbenga Abiola gave the commendation in a statement yesterday in Lagos .
Abiola, who dismissed recent comments by a former Kogi lawmaker, Sen. Dino Melaye, decrying what he called excessive borrowing under Tinubu, described critics of the President’s economic policies and strategies as arm-chair analysts.
He said Melaye’s comment reduced a complex fiscal issue to mere political theatrics, offering no meaningful contribution to the national conversation.
According to him, Melaye deliberately focused only on borrowing while ignoring broader financial reforms and debt management strategies implemented by the Tinubu administration.
Abiola noted that while Melaye portrayed borrowings under the present government as reckless, he failed to acknowledge the government’s achievements in restructuring debt, improving revenue mobilisation, and reducing debt-servicing pressures that crippled past administrations.
He further highlighted the full repayment of the N30 trillion Ways and Means debt inherited from previous governments as one of the administration’s landmark achievements.
“This repayment, announced by the President in his Independence Day broadcast of October 2024, was accompanied by healthy foreign reserves of about $37 billion.
“The debt-service-to-revenue ratio also fell dramatically from 97 percent to 68 percent, while a $7 billion forex backlog was cleared to stabilise the naira,” Abiola added.
He asked why Melaye and other critics, in their analysis, ignored these verifiable accomplishments.
The TMF coordinator further noted that Nigeria’s public debt profile, which stood at N149.39 trillion as of March 31, 2025, had been transparently managed.
According to him, Nigeria’s debt-to-GDP ratio remains at a moderate 40 per cent to 45 per cent, which is far healthier than South Africa’s 70 per cent and Ghana’s 90 per cent,
“Yet, Melaye failed to reference these critical comparative benchmarks,” he said.
He described the outrage as hypocritical and politically motivated ,adding it was not based on sound financial reasoning.
Abiola also highlighted the government’s proactive steps to address sector-specific debts, such as the N4 trillion refinancing plan approved in August 2025 to clear liabilities in the power sector.
According to him, the step will stabilise electricity supply and attract investments into the sector.
On infrastructure, Abiola highlighted the $652 million secured from China Exim Bank to construct a strategic road corridor linking the Lekki Deep Sea Port and the Dangote Refinery to southern trade routes.
According to him, this demonstrates how the administration is borrowing responsibly, directing funds into projects that yield economic returns, unlike the unaccountable loans of the past.
He said that President Tinubu’s policies had already delivered practical benefits to Nigerians.
“From the rollout of the NELFUND student loan scheme to agro-economic planning, aimed at reducing food prices, and a compressed natural gas framework that lowers transport costs, the administration has tied its fiscal policies directly to citizens’ welfare,” he claimed.
He urged Nigerians not to be swayed by what he described as “comedians parading themselves as financial analysts”.