Atiku Abubakar, the Peoples Democratic Party’s candidate in the 2023 presidential election, has raised allegations that the Federal Government’s commitment to the Lagos-Calabar Coastal Highway construction is influenced by business relationships between President Bola Tinubu and Gilbert Chagoury.
Chagoury, a Nigerian-Lebanese billionaire, is the owner of Hitech, the firm awarded the contract for the coastal road by the Federal Government. He is also behind the funding of Eko Atlantic City, a joint venture with the Lagos State Government.
The project has faced criticism due to property demolitions and the rapid pace at which Hitech was granted the contract.
Business establishments, including sections of Landmark and MamiChula beaches, have been demolished to make way for the highway, sparking controversy.
Dave Umahi, the Minister of Works, has defended these actions, asserting that the demolished properties were encroaching on the Federal Government’s Right of Way (ROW).
In a recent statement through his media advisor, Paul Ibe, Atiku criticized the Federal Government’s approach to the project, suggesting it deters foreign direct investment in Nigeria due to inadequate demolition notices and overall project management.
Atiku also accused the government of violating procurement rules in awarding the contract and pointed out a potential conflict of interest involving President Tinubu’s son and associates who sit on the boards of Chagoury’s companies.
He wrote, “The fact that President Bola Tinubu’s son and his surrogates are on the board of companies owned by Gilbert Chagoury constitutes a conflict of interest,”
“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.
“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,” the statement partly read.
