N13trn Lagos, Calabar Coastal Road Most Expensive In Nigeria’s History

The presidential candidate of the People’s Democratic Party, PDP, in the 2023 election has described the Lagos, Calabar Coastal highway as the most expensive project ever by the Nigerian Government.

The ambitious project is being handled by Hitech a construction firm President Bola Ahmed Tinubu supposedly has substantial interest.

Atiku said the haste in which the project is being handled is a signal that the president has interest in it, noting that Seyi Tinubu, the president’s son is on the board of the construction firm owned by Lebanese businessmen, the Chagoury.

His remark is contained in a statement signed by his media aide, Paul Ibe on Sunday.

The PDP candidate, had in his first dig against the administration last week accused it of inflating the project, which is expected to cover some states in the country.

The government described Atiku’s claims as unfounded and delusional.

The federal government has recently approved over N1 trillion for the take-off of the project, thereby reinforcing the opinions of some Nigerians that it’s not a Public/Private project contrary to government’s claim.

More Nigerians are criticising the project because of the humongous amount involved, and the attendant job loses due to the demolition of property that have accompanied it since it took off.

But the Minister of Works, Dave Umahi said many of those affected have already been compensated for their loss.

The former vice president stated that it’s not surprising that the Chagoury family is the beneficiary of the project because of their link to the president.

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.

“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.

“To add insult to injury, this project that is being done in excess of $13bn was awarded without a 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.”