In a scathing accusation, former Vice-President Atiku Abubakar has said that President Bola Tinubu’s government is deeply immersed in a conflict of interest over the Lagos-Calabar Coastal Highway.
At the heart of Atiku’s allegations is Tinubu’s son, Seyi Tinubu’s involvement with CDK Integrated Industries, a subsidiary of the Chagoury Group, which is owned by one of Tinubu’s business allies, Gilbert Chagoury.
Speaking out against what he perceives as a blatant disregard for ethical conduct, Atiku contends that Seyi Tinubu’s position on the board of CDK Integrated Industries represents a conflict of interest, particularly in light of the Chagoury Group’s role in the massive Lagos-Calabar coastal highway project.
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Atiku, through his Media Adviser, Paul Ibe, voiced his concerns, noting the implications of such a relationship on fair governance and procurement processes.
Atiku, who has been a vocal critic of the Lagos-Calabar coastal highway project, reiterated his stance that the project was hastily awarded and executed, bypassing established procurement laws.
“It is on record that this project is the most expensive single project ever embarked upon by the Nigerian government. The fact that it is happening at a time when Nigeria is facing its worst economic crisis ever is a red flag.
“To add insult to injury, this project that is being done in excess of $13bn, was awarded without a competitive bidding. From all indications, the so-called Badagry-Sokoto highway would be awarded in a similar fashion at an enormous cost to taxpayers purely because Tinubu has put his personal interest ahead of the Nigerian people,” he said.
The presidential flag bearer of the Peoples Democratic Party (PDP) in the last general elections emphasized the need for genuine investment and criticized what he perceived as the government’s penchant for prioritizing personal interests over national development.
Drawing attention to a report by a Paris-based Africa Intelligence News Agency, Atiku highlighted Seyi Tinubu’s official association with Gilbert Chagoury, further cementing the ties between the Tinubu family and the Chagoury Group.
The Lagos-Calabar Coastal Highway project has been at the center of leadership controversies in Nigeria recently, with the bone of contention being the exorbitant cost, businesses and jobs being destroyed along.
Atiku stated that the lack of adequate notice and the demolition of tourist, recreational facilities, and other properties within the Oniru corridor have contributed to the continued absence of foreign direct investments in the country.
He contended that instead of enhancing the ease of doing business, the Tinubu administration had demonstrated to the world that personal business interests, particularly those of Tinubu and his family, consistently took precedence over national interests.
He said: “Tinubu has been globetrotting in search of foreign direct investments. He 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.
“The IMF in its latest report stated that Nigeria will by the end of the year become the 4th largest economy in Africa behind South Africa, Egypt, and Algeria, a disgraceful development for a nation which was the largest in Africa by a mile when the PDP left the stage in 2015.
“Investors are seeing how local businesses are being treated and will not come to a place where their investments will not be protected. In saner climes, businesses such as Landmark would have been given at least two years’ notice for effective planning. But Tinubu’s eagerness to satisfy his business partners impaired his ability to coordinate the project properly.
“The awarding of the Lagos-Calabar coastal highway was rushed; the environmental impact assessment report was not even completed; the right of way for the 700 km stretch of the highway project was not secured; it was converted from a PPP to a government-funded project within the twinkle of an eye.
“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.”
Atiku’s allegations have reignited debates surrounding the Lagos-Calabar coastal highway project and the broader issue of transparency and accountability in government. Critics have echoed his concerns, calling for a thorough investigation into the procurement process and the relationship between the Tinubu administration and business interests.
Although the federal government has defended the integrity of the procurement process and dismissed allegations of conflict of interest – portraying the project as a vital component of Nigeria’s infrastructure and economic progress, Atiku and other critics, including Labour Party presidential candidate, Peter Obi, have remained resolute in their call for transparency and accountability.
Atiku called on President Tinubu to jettison propaganda and prioritize the interests of the Nigerian people over personal business interests.