Former Vice President Atiku Abubakar has raised concerns over the award of the Lagos-Calabar coastal road contract, alleging a conflict of interest due to the involvement of Seyi Tinubu, son of President Bola Tinubu, in CDK Integrated Industries, a subsidiary of the Chagoury Group.

“Atiku, one of the fiercest oppositions to the project, criticized the award of the contract to Hitech Construction Company Ltd, pointing to Seyi Tinubu’s position on CDK’s board as evidence of a conflict of interest,” said Atiku’s media aide Paul Ibe.

“Atiku cited a report by Paris-based Africa Intelligence News Agency, highlighting Seyi Tinubu’s official business association with Chagoury, expressing concerns over the project’s transparency and adherence to due process,” the statement continued.

Furthermore, Atiku accused President Tinubu of hastening the contract award process, alleging disregard for environmental impact assessments and proper procurement procedures.

“The rush to award the Lagos-Calabar coastal highway contract without completion of environmental impact assessments and securing right-of-way demonstrates an alarming lack of due diligence,” Atiku remarked.

He further criticized the funding mechanism, stating, “The project’s conversion from a public-private partnership to a solely government-funded initiative, bypassing approved budget allocations, raises questions about financial accountability.”

Additionally, Atiku denounced the absence of competitive bidding for the $13 billion project, calling attention to the need for transparent procurement practices.

The Federal Government’s recent demolition of structures for the project was also challenged by Atiku, who argued that it undermines investor confidence.

“Investors witnessing the hasty demolition of local businesses without adequate notice perceive a lack of investment protection,” Atiku asserted, highlighting the importance of regulatory consistency in fostering a conducive business environment.

Atiku concluded by emphasizing the need for proper project coordination and planning, cautioning against compromising due process for expedience.

“Tinubu’s eagerness to accommodate business interests must not overshadow the imperative of meticulous project management and stakeholder engagement,” Atiku concluded.

The Lagos-Calabar coastal road project, undertaken by Hitech Construction Company Ltd, a subsidiary of the Chagoury Group, remains a subject of controversy, reflecting broader concerns regarding transparency and accountability in infrastructure development.

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Credit: ChannelsTV