By Yusuf Olukokun
Atiku Abubakar, Former Vice President and 2023 election flag bearer of Peoples Democratic Party (PDP) authoritatively claimed Seyi Tinubu President Bola Tinubu’s son, is a director of CDK Integrated Industries, a subsidiary of Chagoury Group, while he also faulted the how the Lagos-Calabar coastal road contract was awarded.
The Federal Government has begun the construction of 700km Lagos-Calabar road which is currently being executed by Hitech Construction Company Limited, a sister company of Chagoury Group.
The commencement of this coastal road construction has since inception, garnered lot of attentions from different quarters with citizens’ views regarding the demolition of structures that are along the coastal line. The Former Vice President has also made it known that the project was awarded to Chagoury due to the obvious stake Seyi Tinubu President Tinubu’s son, has in the company.
“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,” a Sunday statement by Atiku’s media aide Paul Ibe read.
“Citing a report by 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.”
“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,” Atiku was quoted while making the statement.
Atiku has also nailed the President for rushing to construct the coastal road while there are other pressing needs Nigerian citizens are demanding.
“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,” he said.
“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.”
“To add insult to injury, this project that is being done in excess of $13bn was awarded without a competitive bidding,” the former Vice President mentioned.
Speaking further, Atiku also maintained that the demolition strategy of structures owned by investors along the line is sending bad signals to future investors who are willing to invest in Nigeria.
“Investors are seeing how local businesses are being treated and will not come to a place where their investments will not be protected,” he said.
“In saner climes, businesses such as Landmark would have been given at least two years’ notice in order for effective planning. But Tinubu’s eagerness to satisfy his business partners impaired his ability to coordinate the projects properly,” he claimed.