Former PDP presidential candidate, Atiku, has criticized President Tinubu’s economic policies, specifically pointing out the Lagos-Calabar Coastal Road project.
Atiku criticizes the abrupt demolition of tourist spots and properties, including parts of Landmark, in the Oniru corridor. He suggests that this lack of notice is a deterrent to foreign direct investments in the country.
In a statement issued by his media adviser, Paul Ibe, Atiku suggested that the project’s acceleration is due to Tinubu’s business relationship with Gilbert Chagoury, the proprietor of Hitech, the company contracted for the project.
Atiku argued that the contract was awarded in breach of procurement rules. He highlighted the involvement of Tinubu’s son and his associates in Gilbert Chagoury’s companies as a potential conflict of interest. Specifically, Seyi Tinubu, the President’s son, serves on the board of CDK Integrated Industries, a Chagoury Group subsidiary that produces ceramic tiles and sanitary towels.
Atiku further alleged that the Tinubu administration prioritizes its business ventures and those of its family over the country’s interests. He claimed that the project, costing over $13bn, was awarded without a competitive bidding process. He also suggested that the proposed Badagry-Sokoto highway would be similarly awarded, imposing a significant burden on taxpayers due to Tinubu’s personal interests.
Atiku criticized the demolition of tourist and recreational facilities within the Oniru corridor, including parts of Landmark, without sufficient notice. He argued that such actions deter foreign direct investments. He pointed out that in more organized environments, establishments like Landmark would receive at least two years’ notice for proper planning.
Atiku also questioned Tinubu’s claims of securing over $30 billion in foreign direct investments, noting that manufacturing firms are posting heavy losses or exiting due to his poorly implemented exchange rate unification policy. He cited Aliko Dangote’s recent criticism of the policy at the annual general meeting of Dangote Sugar Refinery.
Atiku further criticized the rushed awarding of the Lagos-Calabar coastal highway project, stating that the environmental impact assessment report was incomplete and the right of way for the 700 km stretch of the project was not secured. He revealed that the project, initially a PPP, was converted to a government-funded project abruptly. He also claimed that Tinubu’s administration ignored the N500m approved by the National Assembly for the project and instead released over N1tn without legislative approval.
