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“Why We Stopped Events At International Conference Centre”-Wike

By
James Orji
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The Minister of the Federal Capital Territory, FCT, has described the International Conference Centre, ICC, Abuja as not befitting for the status of Nigeria.

As a result, the minister said President Bola Ahmed Tinubu has directed him to renovate the Centre to look better, in line with international standard.

To this extent, Wike stated that all booked events at the centre have now been cancelled until the renovation work is completed by foremost construction company, Julius Berger, the firm originally built the facility many years ago.

Wike made the announcement during an inspection tour of the facility on Monday, saying the Centre had not been well maintained.

He explained that the renovation was based on President Tinubu’s admonition that it has become an eyesore.

The minister said: “When we came here for the ECOWAS inauguration sometime last week, with President Bola Tinubu, no right-thinking human being would see the state of this facility and be happy.

“In fact, during the inauguration, Tinubu drew my attention to the rot. Even the lighting system was so poor. This is unacceptable. There is no way we can accept this as an International Conference Centre.

“You cannot call it a conference centre but not international, because there is no standard compared to any international conference centre.

“So, we are sorry to announce this; every booking made here is cancelled. We will start immediate rehabilitation of the centre to meet up with international standards,” the minister said.

The ICC is one of the legacy projects of former military president Ibrahim Babangida.

Fubara: Secondus Tackles Wike, Calls Him Pathological Liar, Mastermind Of Outright Falsehood

By
The Source
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Uche Secondus and Nyesom Wike

A former Chairman of the Peoples Democratic Party (PDP), Prince Uche Secondus, has lambasted the Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, for describing him and a former Minister of Transportation, Abiye Sekibo as “expired politicians” over their support for Governor Siminalayi Fubara.

Secondus in a statement by his media aide, Ike Abonyi, stated that Wike has exhibited during a media parley on Tuesday in Abuja “his well-known trait of being a pathological liar, harbinger of half-truths, and a mastermind of outright falsehoods just to hoodwink unsuspecting members of the public to believe his brew by playing to the gallery and drawing some unwarranted applause and attention.”

Wike had during the parley with media Executives condemned the leaders of the PDP in Rivers State as “expired politicians” and “political buccaneers.”

Last week, Secondus, Sekibo, director-general of the party’s presidential campaign council in Rivers; Sen Lee Maeba, Celestine Omehia, a former governorship aspirant and Austin Opara, an ex-lawmaker, declared support for Fubara and urged President Bola Tinubu to caution Wike.

But Secondus in his reaction, described Wike as “a showman noted for his double-speak, twisting of facts to score some cheap political points, and someone who stands the truth on its head.”

He further described the FCT Minister’s utterances during his media parley as “appalling and rather unfortunate, more so he characterized our revered political leaders of Rivers State, casting them in a bad light by referring to them as transitional politicians, political vampires, and political buccaneers.”

The statement added, “Perhaps in his haste to impugn the integrity of these elders who made him, he forgot to taste that he was referencing himself as being a man imbued with such unwholesome character.”

“Nigerians can attest to the fact that there is no greater transitional politician, a well-known vampire who oscillates between two extremes and a buccaneer who has betrayed all those who made him than Nyesom Wike himself.”

Lagos-Calabar Coastal Highway: Atiku’s Desperation To Be President Clouds His Vision-Presidency

By
James Orji
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The federal government has slammed former vice President Atiku Abubakar over his recent view that the administration is deceiving Nigerians on the Lagos-Calabar Coastal Highway.

Abubakar, had in a statement released by his spokesman, Paul Ibe challenged the Bola Ahmed Tinubu’s administration on the high cost of the project, he alleged has been highly inflated.

The former number two citizen also questioned why the project that’s expected to cover 10 states across the country had to start from Lagos state, where the president hails from.

Tinubu was a former Lagos state governor from 1999 to 2003.

Abubakar further alleged that the project was initiated by former President Goodluck Jonathan for a lesser amount, that when the immediate past President Muhammadu Buhari came to power he also tried his best to ensure that the cost of the project was beaten down.

He wondered why the coastal road is costing the Nigerian taxpayers so much at a time the country is struggling economically.

The magazine reports that the minister of Works Dave Umahi recently announced that the federal government has approved over N1 trillion to kick of the project. The government has yet to announce the total cost for the 700-kilometer-long project.

But a statement released by Bayo Onanuga, a presidential spokesman on Monday said Atiku was only looking for cheap publicity, saying his attack on the president is borne out of his desperation to become Nigeria’s president.

The Presidency said the former vice president has been ill-informed concerning the project, stressing that Abubakar has confused the Lagos-Calabar Coastal Highway with the Lagos-Calabar Coastal Rail initiated by past administrations.

The statement said the new project was one of the signatures of President Tinubu is his quest to transform the country through critical infrastructure.

Below is the statement titled: Lagos-Calabar Coastal Highway: Atiku Abubakar Makes Hollow Point Again

In his desperation to always want to hug the headlines as a self-appointed opposition leader, former Vice President Atiku Abubakar has allowed himself to be led into a blind alley again by his poorly informed aides.

In a press statement signed on his behalf by media assistant, Paul Ibe, the Peoples Democratic Party’s Presidential Candidate in the last election made false allusions, in his futile attempt, to denigrate and find faults in the audacious and transformational Lagos-Calabar Coastal highway project, which was recently inaugurated as one of the signature projects of the President Bola Tinubu-led administration.

To Atiku’s chagrin and utter disappointment, the Lagos-Calabar Coastal highway has been rightly praised for the huge economic impact it will create and how it will be a game-changer in improving the quality of life of Nigerians, especially the economy of the nine coastal states it will pass through. Importantly, the road will boost agricultural and tourism economy on a grand scale.

Seeking to be a kill-joy, Atiku Abubakar engaged in red-herring by raising ill-thought-out allegations that only exposed his inadequacies and those of his team in getting the basic facts on an issue he badly seeks to nail the government.

We have decided, however, to respond to Atiku’s misrepresentation of facts in matters of the coastal road if only to set the record straight so that unsuspecting Nigerians are not misled and misinformed.  We owe it a sacred duty to ensure Atiku and his handlers do not continue to spread disinformation as they wallow in their politics of hatred.

Contrary to the claims in Atiku’s endorsed press statement, at no time did the administrations of former Presidents Muhammadu Buhari and Goodluck Jonathan award contracts for the construction of the Lagos-Calabar Coastal highway to any company at any varied and revised amount. So the question of costs comparison does not arise.

The contract that was awarded was that of Lagos-Calabar Coastal rail. The rail was designed as part of the standard guage national rail network. The contract was awarded on August 4, 2021 by the Federal Executive Council presided over by former Vice President, Professor Yemi Osinbajo, SAN at the cost of $11.17billion. The contract was to be completed in six years. The project didn’t take off.

The Lagos-Calabar Coastal rail project has always been on the card. It was another testament of the failure of the previous PDP-led government that it could not get it off the ground in 16 years it held sway.

The Lagos-Calabar Coastal highway and Lagos-Calabar Coastal rail are two distinct projects. It is unfortunate that the former Vice President is confused about  the two projects.

President Tinubu should be praised for having the courage to embark on this transformative project and not vilified as Atiku Abubakar unsuccessfully sought to do.

We know there is nothing so sacred for Atiku Abubakar in the pursuit of his undying ambition to be President of Nigeria even in his advanced age.

We, however, don’t expect a former Vice President of Nigeria to continue to fan ill-will and engage in divisive politics in his twilight.

Atiku queried the decision to start the Coastal road from Lagos and not Calabar, oblivious of the huge impact such will make on export-import flow around the industrial zones.

We are at a loss as to what the former VP hopes to achieve with his assertion. Is it not a received wisdom that a thousand miles journey begins with a step? Whether the project begins from Lagos or Calabar, Warri or Sapele, what should gladden the heart of any patriotic Nigerian is that this important project that has been in the pipeline for several decades has finally taken off.

President Tinubu as a leader and nationalist will continue to drive and propel national progress through infrastructural development across the country. We enjoin former Vice President Atiku to act his status as a presumed statesman and desist from engaging in fruitless exercise that does not add any value to nation-building.

As to the other poorly researched issue raised by Atiku and his team on the Lekki Concession Company, we urge them to return to the Library for real facts rather than rushing to cast aspersions on President Tinubu and his government.

Bayo Onanuga

Special Adviser to the President on Information & Strategy

April 8, 2024

Katsina: Governor Radda Pays Fines for 222 Prison Inmates Ahead of Sallah Celebrations

By
The Source
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In a compassionate move to mark the Holy month of Ramadan and the Sallah festivities, Governor Dikko Radda of Katsina State has taken action to alleviate the burden of 222 inmates across various correctional facilities in the state. These inmates were detained due to their inability to pay fines imposed on them by different courts of law.

According to a statement released by Fadila Muhammad Dikko Esq, the Attorney General and Commissioner for Justice of Katsina State, Governor Radda’s initiative aims to decongest the custodial centers and allow the inmates to celebrate Sallah with their families.

Fadila expressed her sincere gratitude to the Governor, acknowledging the significance of this gesture in providing relief to those incarcerated for minor commercial and non-capital offenses.

The selection process for the beneficiaries, according to a statement issued by the Governor’s Chief Press Secretary, Ibrahim Kaula Mohammed, involved thorough verification and recommendations to the state for intervention in paying the fines holding them in correctional facilities. The Governor’s benevolent act is expected to significantly reduce congestion in these facilities and enable the freed inmates to partake in the joyous occasion of Sallah with their loved ones.

The Katsina State Government’s commitment to upholding justice and ensuring the well-being of its citizens underscores Governor Malam Dikko Umaru Radda’s dedication to fostering compassion and inclusivity in governance.

Uzodimma Offers Automatic Employment To Two Imo Indigenes With First Class In Law School

By
The Source
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Hope Uzodimma

Governor of Imo State, Senator Hope Uzodimma has approved the immediate employment of Mr. Chinonso Oparaji and Mrs. Chipuruime Udeh, two indigenes of Imo State who made First Class in Law at both the Imo State University and the Nigerian Law School.

He gave the approval when the duo, in the company of the Vice Chancellor of Imo State University, Prof. U.U. Chukwumaeze (SAN), the Dean of the Faculty of Law, Prof. C. K. Okorie ( SAN) and the Chief Judge of Imo State, Hon. Theresa Chikeka, paid a courtesy call on him at Government House, Owerri on Monday.

Receiving them, the Governor said that he was delighted and happy with the news of two Imo State Law graduates who made First Class at the Law School, noting that “it was a thing of joy and they needed to be appreciated.”

He added that having distinguished themselves with excellent results worthy of emulation, he was happy to encourage them further with approval for their immediate employment.

The Governor said that appreciating the duo was also a form of encouragement to other students of Imo extraction and as an example that hard work pays.

He commended the Vice Chancellor of IMSU, Prof Chukwumaeze SAN, the management and Staff of Imo State University for bringing back hope to the University “in this period of Renewed Hope Agenda.”

He enjoined other students to know that through commitment and dedication to their studies they can achieve a lot.

On behalf and the Government of Imo State, Governor Uzodimma congratulated the graduates and urged them to do anything they could to correct the ills in the system and the society as the rot is deep.

Responding to the Governor’s gesture, Mr. Oparaji and Mrs. Udeh, who were accompanied by their relatives, expressed joy at the Governor’s gesture, describing it as reward for hard work.

They encouraged other students reading Law and those in the University in generally studying other courses to always put in their best if they want to achieve the best.

Senator Osita Isunaso, representing Imo West at the National Assembly, the Secretary to the State Government, Chief Cosmas Iwu, the Chief of Staff, Barr. Nnamdi Anyaehie, the Principal Secretary to the Governor, Dr. (Mrs.) Irene Chima joined the Governor to receive his guests.

Uzodimma to Deputy: “In Me You Have A Good Partner” –  Lady Ekomaru Reaffirms Total Loyalty

By
The Source
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Hope Uzodimma and His Deputy- Chinyere Ihuoma Ekomaru

The Governor of Imo State, Senator Hope Uzodimma has reassured his Deputy, Lady Dr. Chinyere Ihuoma Ekomaru, that their working relationship/partnership will be good and in the interest of Imo State as their four years tenure starts.

Governor Uzodimma gave the assurance at the Thanksgiving Service in honour of the Deputy Governor of Imo State on Sunday at St. Barnabas Anglican Church Obeakpu Umunoha in Mbaitoli Local Government of the State while addressing the congregation at the end of the Church Service.

The Governor commended the Deputy Governor for taking the right step to present her family, their victory and administration to God, to solicit energy and wisdom from Him and for God to do His will in both of them, noting that God will give them a smooth sail during their reign.

Governor Uzodimma acknowledged that the expectations and task from Imo people from them is “precarious,” added that “but trusting God, all is possible.”

He expressed happiness over the number of people who turned out for the Thanksgiving Service, describing the enthusiasm as encouraging.

The Governor assured Imo people that he was happy that the obstacles that hitherto confronted the State are gradually going away, reiterating that he came with a mission to positively change the narrative of Imo State.

“I will leave Imo better than I met it,” the Governor said and asked God to help his Deputy and himself to achieve the set goals for Imo State.

Governor Uzodimma, however, remarked: “Every democracy comes with tangible and intangible dividends. I will be happy to see positive changes, new conduct and style of life of Imo people.”

He enjoined the Imo citizens to learn to shun evil, speak out against same and pleaded with God to forgive us our sins.

He condemned the attitude of elders of the State who keep mute seeing the misdemeanor of our youths as a result of personal fear and reminded them that they are not doing the State or the youths any good.

Turning to his Deputy, Governor Uzodimma reassured of a partnership that will be to the benefit of the people. “In me, you have a good partner,” he said and decried a situation where most public office holders abuse the privilege of the office they occupy on trust.

The Governor urged public office holders in Imo State to always regulate their appetite over acquisition of wealth, saying that “greed is worse than cancer.”

“Primitive acquisition of material things is very bad,” he said and dvised the public against acquiring what they do not need at the end of the day based on their selfish tendencies and greed.

The Governor also left the congregation with hopes that Imo State, in the next two years, will witness massive positive changes the people may not have experienced before. “The Egyptians we saw yesterday we shall see no more.”

Earlier in her appreciation, Lady Ekomaru expressed her profound gratitude to the Governor whom she said “single handedly” appointed her to the position of the Deputy Governor.

She thanked all Imo people for their support before, during and after the campaigns, election and swearing-in.

The Deputy Governor also thanked the College of Bishops, the Clergy and the wives of the Anglican Communion who, with other people of faith, prayed fervently for her choice and supported the gender balancing that Governor Uzodimma initiated.

She pledged her absolute loyalty to the Governor and to offer him pieces of advice that would be sincere and lead to the success of their administration and service to Imo State in general.

Lady Ekomaru reminded the congregation that the thoughts of Governor Uzodimma for Imo people are “thoughts of good and greater development,” saying that ,”the Governor has been able to battle all the vices and challenges he faced at the beginning,”  and prayed God to continue to be with them as they continue with the Shared Prosperity 3R Administration.

The Deputy Governor’s husband, Chief  Chukwuma Ekomaru (SAN) expressed his family’s profound gratitude to the Governor for his benevolence via the choice of his wife as a Deputy Governor. He said the gesture will remain a permanent feature in the life of the Ekomarus.

Chief Ekomaru used the opportunity of the occasion to present a gift of picture Portrait  from the St. Barnabas Anglican Church to the Governor and the Deputy Governor.

The sermon was delivered by the Primate of the Anglican Communion, His Grace, Most Rev. (Dr.) Henry Ndukuba while in attendance were members of the Council of Anglican Bishops of Nigeria, their wives, other Clergies and also their wives.

The three Senators from Imo State – Osita Izunaso,  Patrick Ndubuisi and Ezenwa Onyebuchi Onyewuchi, serving and former House of Representatives members, the Chief Judge of Imo State, Justice Theresa Chikeka,  members of the Imo State House of Assembly, former Governor Ikedi Ohakim and his former Deputy, Ada Okwuonu, ranking traditional rulers from Imo State, captains of industries and a host of other personalities from Imo State and beyond graced the occasion.

Anambra State Primary And Secondary Schools To End Daily Academic Activities 2.30pm

By
The Source
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Students in Examination Hall

By Suleiman Anyalewechi

The Anambra State Government has directed all Primary and Secondary Schools operating in the State to ensure that all academic activities are rounded off on, or before 2 30pm daily.

The State Commissioner for Education, Professor Ngozi Chuma Ude, who disclosed this on Monday April 8, 2024, in a statement, said the directives aim at aligning educational activities in the state with the United Nations UN stipulations for schools to end daily academic activities by 2.30pm.

The Source reports that until the upsurge and proliferations of private primary and Secondary schools in the country, academic activities were usually concluded between 1.30pm and 2.30pm.for Primary Schools and Secondary schools respectively, thus allowing pupils enough time to rest before the next day’s academic activities.

The situation is not, also, helped by working class parents who find the after- school lesson programmes of most of the private schools fitting to their career pursuits.

This development has resulted in teens and children of less than 6 years subjected to tedious and straining academic activities at schools,without enough mental rest.

Prof Ude, who equally urged  all school Heads in the State  to strictly adhere to the new directives, noted that the policy is to ensure that pupils have adequate rest,  as well as interact with their parents and wards before the  commencement of the next day academic activities.

The Anambra State Government also said going by the new  arrangements, all pupils are expected to be at home by 3pm daily.

Petrol Price Set To Crash To N550 A Litre – National President IPMAN

By
The Source
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By Suleiman Anyalewechi

All things being  equal, Premium Motor Spirit PMS, otherwise known as petrol will be sold at Lagos markets and environs  at the cost of N550, with slight modifications in other regions due to differentials in logistical costs.

The National President of the Independent Petroleum Marketers Association of Nigeria IPMAN, Alhaji Abubakar Migandi Garima, who disclosed this on Monday, April 8, 2024, said the Umbrella body of Petroleum products marketers are currently holding discussions with the Management of the country’s only known Privately owned Refining facility ,the Dangote Refinery in this regard.

The Source reports that following the official removal of all subsidies on petroleum products by the  President Bola Ahmed Tinubu, earlier on in the life of the administration ,prices of petroleum products skyrocketed, with the PMS used mostly by motorists presently selling at between N700 and N750 a litre across the country.

But IPMAN president has assured that , the association’s on going discussions with Dangote ,will considerably ease the price burden on PMS users ,when the refinery finally comes on stream,in no distance time.

Alhaji Garima while emphasising the costs advantages of locally refined petroleum products, noted that while the average cost of PMS is expected to be N550 in Lagos and environs,the  product will be slightly higher in other geopolitical zones due to higher cost of transportation.

However, he asserted that with access to  domestic supply of crude and less logistical costs ,Dangote refinery and other locally refined petroleum products will be cheaper

The IPMAN President expressed the optimism that the ongoing discussions between the association and Dangote Refinery,will lead to an agreement in the areas of price margins and other operational costs ,before the commencement of full  operations by the Refinery.

It is widely anticipated that ,a marginal reduction in the prices of petroleum products ,has the  huge potentials to drive down the costs of goods and services,presently out of the reach of ordinary Nigerians.

Police Recruitment Board Invites Specialist Applicants For Practical Tests/Medical Screening

By
The Source
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Solomon Arase

The Police Recruitment Board  has invited Specialist- applicants for practical tests/medical screening in the ongoing recruitment of Constables into the Nigeria Police Force.

According to a statement by Ikechukwu Ani, Head, Press and Public Relations, on Monday, the tests will run concurrently with the medical screening of both General Duty applicants and Specialists which had earlier been scheduled to start on Tuesday, April 16th 2024 and last for two weeks.

Applicants are expected to be tested in various fields which include band, carpentry, Commumication,  driving, electrical, information technology,  masonry and marine technology.

Other fields include, mechanic, medical assistants, painting,  plumbing, tiling, printing, welding and Veterinary assistants.

The practical tests have been scheduled to hold at twenty locations which are the 17 Zonal Command Headquarters and Kaduna, Yobe and Zamfara state Command Headquarters.

Specialist applicants from these states are to do their practical tests in their respective  states of origin.

The Chairman of the Police Service Commission,  Dr. Solomon Arase retired  Inspector General of Police said the Commission is desirous of returning the Nigeria Police Force to its glorious past when its specialists were the best you can get anywhere and when the Force handled most of its ancillary services by itself.

Dr. Arase noted that the  Police Force then had seasoned mechanics that handled repairs of its vehicles, Masons that built Police barracks, engineers who were into road construction and tailors who sewed Police uniforms, etc.

Dr. Arase said the practical tests for the Specialist applicants  will be meticulously handled to ensure that the best hands are selected.

He further commended the Recruitment Board for their industry and commitment to this noble national assignment,  adding that their selfless Service will not go unnoticed.

“The Lagos-Calabar Coastal  Highway Dubious, Meant To Deceive Nigerians”

By
The Source
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“Former Vice President to former President Olusegun Obasanjo, Atiku Abubakar, who was, also, the Presidential Candidate of the PDP in the 2023 Presidential Election, won by the APC Candidate, now President Bola Tinubu, tackles the President over the much-talked Lagos-Calabar Coastal Highway, in a statement signed on his behalf by his Media Aide, Paul Ibe.”

The Bola Ahmed Tinubu administration has again inadvertently revealed its penchant for dubious and shady deals in the face of this 700km Lagos-Calabar coastal highway.

This project returned to public discourse at the twilight of the Goodluck Jonathan administration in November 2014 wherein it was announced President Jonathan had signed the 10-state, 22-station project with China Civil Engineering Construction Corporation (CCECC) at a cost of $ 11.97bn .

However, former President Jonathan could not begin the project before he lost the election. But his successor, former President Muhammadu Buhari expressed his intention to begin it and announced in 2016 that the project had been renegotiated downward by $800m to $11.1bn and that it would be ready within three years. But it continued to stall.

In August 2021, while Buhari was on vacation, it was announced by then Information Minister, Lai Mohammed, that the FEC had “approved the memo for the ratification of the president’s approval for the award” of the $11.1 billion project, and that it would be completed in six years. But nothing was done.

In September 2023, barely weeks after being appointed by Tinubu, Works Minister, Engr. Dave Umahi announced that the project had been awarded to Gilbert Chagoury’s Hitech Construction Company Limited (Hitech) without any record of a competitive bidding or a decision by FEC.

Umahi refused to reveal how much the project would cost. He only explained that it would run through nine states and would have a rail road running through the middle. Most importantly, the works minister said the project would come at zero cost to Nigeria, which is currently facing an all-time high level of debt.

The works minister even stated, “Let me announce that it is under public-private partnership. The Hitech group are going to look for the money. They have already found the money, and that is the good news because we don’t waste our time talking and holding meetings and wasting resources.”

The concept of the project was build, operate and transfer, meaning that Hitech would construct the road, operate it for some years and then recoup its money through tollgates before handing it back to the Nigerian government.

Because the project did not require public funds, it did not go through approval from the National Assembly, which holds the power of appropriation. Also, the project only went through the Infrastructure Concession Regulatory Commission (ICRC) with no record of a competitive bidding since Chagoury’s firm was to fund the project 100%.

However, to the shock of many Nigerians, Umahi returned to FEC with a memo in March 2024 seeking the approval of N1.06 trillion that would be paid to Chagoury’s firm for the first phase of the project which is wholly in Lagos.

This pilot phase was to begin from the edge of Chagoury’s Eko Atlantic City on Ahmadu Bello Way, Victoria Island, and terminate at the Lekki Deep Sea Port, Ibeju-Lekki, a distance of 47.47km.

Till date, the Tinubu administration has refused to reveal how much the project will cost in total. Umahi, who even came on Channels Television recently, evaded questions as to the total cost of the project.

But if 47.47km costs about N1.06tn, it means each kilometre is being built at N22.5 billion or $18 million. For a project that is going to be 700km, it means the total cost could be N15.7 trillion or $12.56 billion, which is higher than previous estimates.

It is curious that the terms of such an audacious project continues to be shrouded in secrecy. Worse still, it is expected to lead to job losses like the demolition of Landmark Beach Resort in Oniru which will lead to the loss of over 12,000 direct and indirect jobs and over $200m in investments according to its management.

More curious is the fact that the entire pilot phase of this project begins and ends in Lagos, especially within the axis of Bola Tinubu’s business interests. It is no secret that both Tinubu and Chagoury are business partners.

This same Hitech, owned by Chagoury, was unable to complete the 50km Lekki-Epe Expressway. Despite installing two toll gates along the axis, Hitech which was part of the Lekki Concession Company (LCC) consortium was only able to construct about 20km, forcing the Lagos State Government to buy it back at the cost of N7.5 billion ($50 million at the time) in 2013 which came at a loss to the people of Lagos.

Tinubu has once again put his personal business interest ahead of that of the Nigerian people in violation of his oath of office where he swore that “I will not allow my personal interest to influence my official conduct or my official decisions”.

The so-called pilot phase from Eko Atlantic to Lekki Deep Sea Port was initially conceived as a Lagos State Government project but because of its huge cost coupled with the fact that Lagos State has a huge debt burden no thanks to Tinubu, the Federal Government is now implementing it under the guise of Lagos-Calabar Coastal Highway.

This perhaps explains why there are fears that the project will never get to Calabar, and this is the same reason the project is beginning from Lagos and not Calabar.

Despite not revealing the cost of this entire project, the Tinubu administration is now on the verge of setting up a so-called Renewed Hope Infrastructure Development Fund, a fund targeted at constructing capital projects without the usual budgeting process.

With a target of N20 trillion or $14.5 billion as seed capital, the fund targets the Lagos-Calabar coastal highway and other projects. The initiative targets Pension Funds, Concessionary Loans, insurance companies, sovereign wealth funds, private sector arms of multilateral development institutions, and bilateral private sector investors, among others, to secure $35bn annually.

The Diaspora funding and equity and endowment funds are also expected to play their part in the plan.

But this renewed hope fund, which will be spent at the discretion of Tinubu and without transparency, will likely become another means of siphoning public funds through shady projects. With the current Lagos-Calabar highway already being handled in secrecy, it remains to be seen how such a fund will be managed.

Signed:
Paul Ibe
Coordinator
Atiku Media Office Abuja
7th April, 2024.

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