Presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election, Atiku Abubakar, has alleged that the presence of President Bola Tinubu’s son on the board of companies owned by Gilbert Chagoury constitutes a conflict of interest.
Atiku, in a statement, yesterday by his Media Adviser, Paul Ibe, advised Tinubu to focus more on attracting real investors than adopting propaganda as a state policy.
According to the former Vice President 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.
Citing a report by a Paris-based Africa Intelligence News Agency, where it was revealed by the Corporate Affairs Commission that Seyi is officially a business associate of Chagoury, the former Vice President said it was not surprising that the Chagoury Group had become the biggest beneficiary of the Tinubu largesse.
He said: “Thanks to quality reporting by Africa Intelligence, our suspicions have been confirmed that Chagoury and Tinubu are indeed business partners, and it has been formalised with Seyi on the board of one of Chagoury’s firms.”
The former Vice President stressed that it had become obvious even to the undiscerning that the Lagos-Calabar Coastal Highway was 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 Nigeria is facing its worst economic crisis ever is a red flag,” he said.
He added: “To add insult to injury, this project that is being done in excess of $13 billion was awarded without competitive bidding. From all indications, the so-called Badagry-Sokoto highway would be awarded in a similar fashion at an enormous cost to taxpayers purely because Tinubu has put his personal 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.
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 prioritised over and above national interest.
The former Vice President advised Tinubu and his economic team to do less propaganda and focus on improving the ease of doing business as this remained the surest path to sustainability.
