Former Vice President Atiku Abubakar has berated President Tinubu over economic policies, saying the Lagos-Calabar Coastal Road was done purely because of Tinubu’s business relationship with Gilbert Chagoury owner of the executing company.
In a statement released by Atiku’s media adviser, Paul Ibe, on Sunday, Atiku alleged that the Coastal Highway project is being expedited solely due to the business ties between President Tinubu and Gilbert Chagoury, the owner of Hitech, the contractor responsible for the highway project.
Atiku said the contract was granted in violation of procurement regulations.
Atiku disclosed that the involvement of President Bola Tinubu’s son and his associates on the boards of companies belonging to Gilbert Chagoury presents a clear conflict of interest.
Atiku also claimed that Tinubu’s son, Seyi Tinubu, is a director on the board of CDK Integrated Industries, a subsidiary of the Chagoury Group, which manufactures ceramic tiles and sanitary towels.
Atiku added that instead of enhancing the ease of doing business, the Tinubu government had allegedly demonstrated to the global community that his business endeavours and those of his family would consistently take precedence over national interests.
Atiku claimed that project that is being done with more than $13bn was awarded without competitive bidding.
Atiku also claimed that the ‘so-called’ Badagry-Sokoto highway would be awarded similarly at an enormous cost to taxpayers purely because Tinubu has put his interest ahead of the Nigerian people.
Atiku said the demolition of tourist and recreational facilities and other properties within the Oniru corridor, including parts of Landmark, without ample notice, is one of the reasons foreign direct investments continue to elude the country.
Atiku said that in more orderly environments, establishments like Landmark would have been provided with a minimum of two years’ notice to facilitate proper planning.
The former PDP presidential candidate mocked Tinubu who has been globetrotting in search of foreign direct investments. Atiku said Tinubu claims to have secured over $30 billion from various companies, but none has been forthcoming. Rather, all manufacturing firms have been posting heavy losses while some are exiting due to his poorly implemented exchange rate unification policy with even Aliko Dangote describing it as a huge mess at the recent annual general meeting of Dangote Sugar Refinery.
Atiku also added that the awarding of the Lagos-Calabar coastal highway was rushed. He said the environmental impact assessment report was not even completed and the right of way for the 700 km stretch of the highway project was not secured.
Atiku said the project was converted from a PPP to a government-funded project within the twinkle of an eye.
Atiku also revealed that the N500m that was approved by the National Assembly for the project was ignored, while over N1tn was released by Tinubu’s administration without approval from the National Assembly.
