![Coastal Highway Rushed Due To Tinubu'S Business Interests - Atiku Coastal highway rushed due to tinubu's business interests - atiku](https://brandpowerng.com/wp-content/uploads/2024/05/Lagos-Calabar-Coastal-Road.jpg)
According to Atiku, the Tinubu-led government’s bad choice regarding the Lagos-Calabar Highway is one of the major reasons behind Nigeria’s continuous failure to draw in foreign direct investment.
FG begins demolition of Landmark Beach for Lagos-Calabar Coastal Highway project
Atiku added that the contract was granted in violation of procurement regulations. He further highlighted that the involvement of President Bola Tinubu’s son and his associates on the boards of companies belonging to Gilbert Chagoury presents a clear conflict of interest.
He stated, “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.
The former Vice President noted 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.
The statement partly read, “The former Vice President restated that it has become obvious 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 when Nigeria is facing its worst economic crisis ever is a red flag.
“To add insult to injury, this project that is being done more than $13bn was awarded without competitive bidding. From all indications, the so-called Badagry-Sokoto highway would be awarded similarly at an enormous cost to taxpayers purely because Tinubu has put his interest ahead of the Nigerian people.”
“Atiku said 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.