Former Vice President and presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has challenged President Bola Tinubu to explain questions reportedly raised by The Economist over projects valued at about $20 billion and allegedly linked to Lebanese-Nigerian businessman Gilbert Chagoury, a long-time associate of the President.
Atiku, in a statement issued on Monday by his Senior Special Assistant on Public Communication, Phrank Shaibu, said the reported revelations had elevated concerns over the Tinubu administration’s procurement practices from domestic criticism to an international credibility issue.
He said the projects, estimated at about ₦27 trillion at prevailing exchange rates, were too significant for the Federal Government to ignore questions about their ownership, procurement and possible concessions.
“At prevailing exchange rates, $20 billion is approximately ₦27 trillion. Nigerians deserve to know how projects of such staggering value became concentrated around businesses linked to one man who happens to be a close associate of the President,” Atiku said.
“This is not pocket change. This is an amount approaching the scale of entire national budgets. Nigerians cannot be asked to tighten their belts while those around the President appear to be tightening their grip on some of the biggest contracts in the country.”
The former vice president urged the Presidency to respond specifically to the issues reportedly raised by The Economist concerning procurement procedures, taxation and the relationship between political proximity and access to major government projects.
He listed questions he said the government should answer, including who awarded the contracts, whether they were competitively tendered, what tax concessions or waivers were granted, who the ultimate beneficial owners were and why the same presidential associate allegedly appeared around projects worth billions of dollars.
“The questions are simple: Who awarded these contracts? Were they competitively tendered? What tax concessions, waivers or privileges were granted? Who are the ultimate beneficial owners? And why does the same presidential associate keep appearing around projects worth billions of dollars?” he asked.
Atiku also criticised the Presidency’s response to allegations of corruption and cronyism, arguing that government spokesmen should address substantive questions rather than attack critics.
“President Tinubu cannot answer every allegation of corruption and cronyism by deploying presidential spokesmen to abuse critics. The Economist is not an opposition party. It is not on the ballot in 2027. The President should answer the questions it has raised,” he said.
According to him, the controversy was particularly troubling against the backdrop of increased taxes, rising living costs and economic hardship being experienced by Nigerians.
“You cannot preach sacrifice to hungry Nigerians while questions hang over ₦27 trillion worth of projects linked to your friend. That is not reform. It is an assault on public trust,” Atiku said.
The ADC presidential candidate therefore challenged the Federal Government to publish details of the procurement processes, ownership structures, tax concessions and other relevant information relating to the projects reportedly identified by The Economist.
“Nigeria is a republic, not a friends-and-family investment portfolio. ₦27 trillion demands answers. President Tinubu must provide them,” he said.
