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The Peoples Democratic Party (PDP) flag-bearer in the 2023 presidential election, Atiku Abubakar, has alleged that the insistence on the part of the Federal Government to proceed with the construction of the Lagos-Calabar Coastal Highway is due to the business ties between President Bola Tinubu and Gilbert Chagoury.
Chagoury owns Hitech, the construction company contracted by the Federal Government to build the coastal road.
The Nigerian-Lebanese businessman billionaire also owns the company that funded the Eko Atlantic City, a public-private partnership with the Lagos State Government.
Criticisms have trailed the construction of the Lagos-Calabar Coastal Highway over the demolition of properties and the seeming hastiness by the Federal Government to award the contract to Hitech.
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Several businesses, including parts of Landmark and MamiChula beaches, have been pulled down to facilitate the construction of the project at relatively short notice.
The Minister of Works, Dave Umahi, has consistently defended the demolitions, stressing that the affected properties were occupying the Federal Government's Right of Way (ROW).
Atiku suspects foul play
However, in a statement by his media adviser, Paul Ibe, on Sunday, May 5, 2024, Atiku said the lack of proper notifications before demolition and the general handling of the project by the Federal Government is a key factor driving foreign direct investments away from the country.
The former Vice President also claimed the road contract was granted in contravention of the procurement regulations.
He further noted 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.
“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," he said.
Atiku stressed 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.
“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.