Former Vice President Atiku Abubakar has accused President Bola Ahmed Tinubu of stepping on a conflict of interest by contracting a company where his son has vested interest to construct the Lagos-Calabar Coastal highway. Atiku revealed that Seyi Tinubu is on the board of CDK Integrated Industries, a subsidiary of the Chagoury Group owned by Gilbert Chagoury which, according to him is a conflict of interest. This comes amidst the Chagoury Group’s involvement in the Lagos-Calabar coastal highway project, a contract awarded by the Tinubu government.
Atiku, who contested on the platform of Peoples Democratic Party (PDP) as the presidential candidate in the last general elections, criticized the awarding and execution of the Lagos-Calabar coastal highway contract, citing hurried processes and alleged contraventions of procurement laws. He urged Tinubu to prioritize attracting genuine investors rather than relying on propaganda.
Citing a report by Africa Intelligence News Agency, Atiku emphasized the formalized business relationship between Tinubu and Chagoury, underscoring the ethical implications of such ties. He accused the Tinubu administration of rushing the project, converting it from a public-private partnership to a government-funded initiative without due process.
According to him; “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 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.
He stated that rather than improving the ease of doing business, the Tinubu administration had shown to the world that his personal business interest and that of his family would always be prioritized over and above national interest.
He Further said: “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.
