Once more, Atiku faults Lagos-Calabar Coastal freeway contract, insists it lacks transparency

The presidential candidate of the Peoples Democratic Occasion (PDP) within the 2023 election says the truth that President Bola Tinubu’s son and his surrogates are on the board of corporations owned by Gilbert Chagoury clearly constitutes a battle of curiosity.

Atiku stated this in a press release on Sunday by his Media Adviser, Paul Ibe, whilst he suggested Mr Tinubu to focus extra on attracting actual traders than adopting propaganda as a state coverage.

The previous vp famous that Mr Tinubu’s son, Seyi, is a director on the board of CDK Built-in Industries, a subsidiary of the Chagoury Group, which manufactures ceramic tiles and sanitary towels.

Citing a report by Paris-based Africa Intelligence Information Company the place it was revealed by the Company Affairs Fee that Seyi is formally a enterprise affiliate of Chagoury, the previous vp stated it was not shocking that the Chagoury Group had change into the most important beneficiary of the Tinubu largesse.

He stated, “Because of high quality reporting by Africa Intelligence, our suspicions have been confirmed that Chagoury and Tinubu are certainly enterprise companions and it has been formalised with Seyi on the board of one among Chagoury’s corporations.”

Atiku restated that it has change into apparent even to the undiscerning that the Lagos-Calabar Coastal Freeway is being performed in a rush purely due to the enterprise relationship between President Tinubu and Gilbert Chagoury, the proprietor of Hitech, the contractor that was awarded the contract for the freeway venture in contravention of the procurement legal guidelines. It’s on document that this venture is the costliest single venture ever embarked upon by the Nigerian authorities. The truth that it’s taking place at a time Nigeria is dealing with its worst financial disaster ever is a pink flag.

He added: “So as to add insult to harm, this venture that’s being performed in extra of $13bn was awarded with out a aggressive bidding. From all indications, the so-called Badagry-Sokoto freeway could be awarded similarly at an unlimited price to taxpayers purely as a result of Tinubu has put his private curiosity forward of the Nigerian individuals.”

Atiku stated the demolition of vacationer and leisure amenities and different properties throughout the Oniru hall, together with elements of Landmark, with out ample discover, is without doubt one of the causes overseas direct investments proceed to elude the nation.

He argued that quite than enhancing the benefit of doing enterprise, the Tinubu administration had proven to the world that his private enterprise curiosity and that of his household would at all times be prioritised over and above nationwide curiosity.

The previous PDP presidential candidate acknowledged, “Tinubu has been globetrotting searching for overseas direct investments. He claims to have secured over $30 billion from numerous corporations, however none has been forthcoming. Relatively, all manufacturing corporations have been posting heavy losses whereas some are exiting resulting from his poorly applied change fee unification coverage with even Aliko Dangote describing it as an enormous mess on the latest annual basic assembly of Dangote Sugar Refinery.

“The IMF in its newest report acknowledged that Nigeria will by the top of the yr change into the 4th largest economic system in Africa behind South Africa, Egypt and Algeria, a disgraceful improvement for a nation which was the most important in Africa by a mile when the PDP left the stage in 2015.

“Buyers are seeing how native companies are being handled and won’t come to a spot the place their investments won’t be protected. In saner climes, companies similar to Landmark would have been given at the very least two years’ discover to ensure that efficient planning. However Tinubu’s eagerness to fulfill his enterprise companions impaired his means to coordinate the venture correctly.

“The awarding of the Lagos-Calabar coastal freeway was rushed; the environmental impression evaluation report was not even accomplished; the correct of method for the 700 km stretch of the freeway venture was not secured; it was transformed from a PPP to a authorities funded venture throughout the twinkle of an eye fixed. The N500m that was authorised by the Nationwide Meeting for the venture was ignored, whereas over N1tn was launched by Tinubu’s administration with out approval from the Nationwide Meeting.

“From falsely claiming to have eliminated subsidies to secretly paying billions month-to-month primarily based on the revelation of Nasir el-Rufai, the Tinubu administration has proven a scarcity of coordination and transparency, failing to even clarify to Nigerians why there’s petrol shortage throughout the nation.”

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The previous vp suggested President Tinubu and his financial workforce to do much less of propaganda and give attention to enhancing the benefit of doing enterprise as this remained the surest path to sustainability.

Signed:
Paul Ibe
Media Adviser to Atiku Abubakar
Vice President of Nigeria, 1999-2007 and Presidential candidate of the Peoples Democratic Occasion within the 2023 election
Abuja
fifth of Might, 2024.