*Insists contract award, payments, demolitions, EIA lack due process
*Says FG’s propaganda ‘ll discourage foreign investors
The Presidential candidate of the People’s Democratic Party (PDP), in the 2023 election, Atiku Abuabar, on Sunday said foreign investors will continue to avoid Nigeria as long as the current administration sticks to propaganda, instead of projecting realities.
Atiku also said that President Bola Tinubu’s son sits on the board of companies owned by Gilbert Chagoury, which clearly constitute conflict of interest and clear violation of state policy.
In a statement by his Media Adviser, Paul Ibe, in Abuja, the former Vice-President advised President Tinubu to focus more on “attracting real investors than adopting propaganda as a state policy.”
Atiku claimed 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, stressing it proves the President’s personal interests in the company.
Citing a report by Paris-based Africa Intelligence News Agency, where it was revealed by the Corporate Affairs Commission that Seyi is officially a business associate of Chagoury, the former Vice-President added that it was “not surprising that the Chagoury Group had become the biggest beneficiary of the Tinubu largesse.”
Atiku said: “Thanks to quality reporting by Africa Intelligence, our suspicions have been confirmed that Chagoury and Tinubu are indeed business partners and it has been formalized with Seyi on the board of one of Chagoury’s firms.
“It has become obvious that 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 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.”
Atiku further said that 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”.
The former PDP presidential candidate further stated that, “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.
“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.
“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”.
