He said the road project is the major reasons behind Nigeria’s continuous failure to attract foreign direct investment
The Peoples Democratic Party, PDP presidential candidate for 2023, Atiku Abubakar, has raised alarm over the manner the president Bola Tinubu administration is going about the Lagos-Calabar Highway project.
He bemoaned the brazen disregard for private businesses and destruction of livelihoods which he said is a bad optics for an administration that is seeking foreign direct investment.
He also decried the lack of proper notification as regards the demolition of properties in the Oniru corridor, including parts of Lagos State’s landmark, as well as tourist and recreational attractions, in order to make way for the Coastal Highway.
Atiku described the road project as red flag, noting that many documentations, processes and procedures that a project of such magnitude should go through are shrouded in secrecy.
He said the road project is the major reasons behind Nigeria’s continuous failure to attract foreign direct investment.
Atiku made his position on the controversial road project known in a statement issued on Sunday by his media adviser, Paul Ibe.
In the statement, Atiku disclosed that President Bola Tinubu and Gilbert Chagoury, the owner of Hitech, the contractor in charge of the highway project, are the only reasons why the Coastal Highway project is moving more quickly.
Atiku added that the contract was granted in violation of procurement regulations. He further highlighted 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.
He stated, “The fact that President Bola Tinubu’s son and his surrogates are on the board of companies owned by Gilbert Chagoury constitutes a conflict of interest.
The former Vice President noted that “Tinubu’s son, Seyi, is a director on the board of CDK Integrated Industries, a subsidiary of the Chagoury Group, which manufactures ceramic tiles and sanitary towels.
The statement partly read, “The former Vice President restated that it has become obvious even to the undiscerning that the Lagos-Calabar Coastal Highway is being done in a hurry purely because of the business relationship between Tinubu and Gilbert Chagoury, the owner of Hitech, the contractor that was awarded the contract for the highway project in contravention of the 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 more than $13bn was awarded without competitive bidding. From all indications, 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.”
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