Coastal Highway done purely because of Tinubu, Chagoury business relationship
The 2023 Presidential candidate of the Peoples Democratic Party, Atiku Abubakar, has stated that the shortage of correct notification relating to the demolition of vacationer and leisure facilities, in addition to different properties inside the Oniru hall, together with sections of Landmark in Lagos State, to facilitate the development of the Coastal Highway, is a key issue contributing to Nigeria’s ongoing wrestle to draw overseas direct investments.
Criticism and reward proceed to encompass the continued improvement of the Lagos-Calabar Coastal Highway.
In latest instances, the demolition of quite a few leisure facilities in Lagos has been carried out to expedite the development of the Lagos-Calabar Coastal Highway.
Minister of Works, Dave Umahi, has persistently defended the demolitions, stressing the need of clearing the landmark centre and others located inside the Federal Government’s Right-of-Way.
Compensation funds to affected property house owners started on Wednesday, initiated by the Federal Government.
In an announcement launched by his media adviser, Paul Ibe, on Sunday, Atiku alleged that the Coastal Highway mission is being expedited solely as a result of business ties between President Bola Tinubu and Gilbert Chagoury, the proprietor of Hitech, the contractor accountable for the freeway mission.
The ex-Vice President asserted that the contract was granted in violation of procurement rules. He additional highlighted that the involvement of President Bola Tinubu’s son and his associates on the boards of firms belonging to Gilbert Chagoury presents a transparent battle of curiosity.
He acknowledged, “The proven fact that President Bola Tinubu’s son and his surrogates are on the board of firms owned by Gilbert Chagoury constitutes a battle of curiosity.
The former Vice President famous 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.
Atiku, describing it as unsurprising that the Chagoury Group had emerged as the first recipient of Tinubu’s generosity, acknowledged, “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.”
He contended that as an alternative of enhancing the convenience of doing business, the Tinubu authorities had allegedly demonstrated to the worldwide group that his business endeavours and people of his household would persistently take priority over nationwide pursuits.
The assertion learn partly, “The former Vice President restated that it has develop into apparent even to the undiscerning that the Lagos-Calabar Coastal Highway is being done in a rush purely because of the business relationship between Tinubu and Gilbert Chagoury, the proprietor of Hitech, the contractor that was awarded the contract for the freeway mission in contravention of the procurement legal guidelines. It is on document that this mission is the costliest single mission ever embarked upon by the Nigerian authorities. The proven fact that it’s occurring at a time when Nigeria is dealing with its worst financial disaster ever is a pink 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 stated the demolition of vacationer and leisure amenities and different properties inside the Oniru hall, together with elements of Landmark, with out ample discover, is one of the explanations overseas direct investments proceed to elude the nation.
He argued that “rather than improving the ease of doing business, the Tinubu administration had shown to the world that his personal business interest and that of his family would always be prioritized over and above national interest.”
Atiku famous that buyers observe the remedy of native companies and would keep away from areas the place their investments lack safety.
He added that in additional orderly environments, institutions like Landmark would have been supplied with a minimal of two years’ discover to facilitate correct planning.
The former PDP presidential candidate acknowledged, “Tinubu has been globetrotting in search of overseas direct investments. He claims to have secured over $30 billion from varied firms, however none has been forthcoming. Rather, all manufacturing companies have been posting heavy losses whereas some are exiting because of his poorly carried out trade price unification coverage with even Aliko Dangote describing it as an enormous mess on the latest annual normal assembly of Dangote Sugar Refinery.
“The IMF in its newest report acknowledged that Nigeria will by the tip of the 12 months develop into the 4th largest financial system in Africa behind South Africa, Egypt and Algeria, a disgraceful improvement for a nation which was the most important in Africa by a mile when the PDP left the stage in 2015.
“Investors are seeing how native companies are being handled and won’t come to a spot the place their investments won’t be protected. In saner climes, companies reminiscent of Landmark would have been given a minimum of two years’ discover for efficient planning. But Tinubu’s eagerness to fulfill his business companions impaired his potential to coordinate the mission correctly.
“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.”
