The Presidency on Monday said the ongoing demolition of buildings to pave the way for the Lagos-Calabar highway will not deter foreign investments into Nigeria, in response to Atiku Abubakar.
It also said the president’s son, Seyi Tinubu, a board member of Ogun state-based tile and sanitary ware manufacturer, CDK Industries Ltd, poses no conflict of interest to the project.
The Presidency was responding to comments by the flagbearer of the Peoples Democratic Party in the 2023 elections, Atiku Abubakar, who alleged that the Coastal Highway project is being expedited solely due to the business ties between President Bola Tinubu and Gilbert Chagoury, the owner of the highway contractor, Hitech Construction Company.
In a statement signed by Tinubu’s Special Adviser on Information and Strategy, Mr. Bayo Onanuga, the Presidency said, “We found it strange that Alhaji Atiku could accuse President Tinubu of conflict of interest in the award of Lagos-Calabar Coastal highway to Hitech Construction Company which he claimed is owned by Chagoury family because the President’s son, Seyi Tinubu, sits on the board of CDK, a tiles manufacturing company, based in Sagamu, Ogun State.”
The statement is titled, ‘Atiku Abubakar’s penchant for distorting facts.’
On Sunday, the former Vice President (1999 – 2007) argued that the lack of proper notification regarding the demolition of tourist and recreational amenities, as well as other properties within the Oniru corridor, including sections of Landmark in Lagos State, to facilitate the construction of the Coastal Highway, is a key factor contributing to Nigeria’s ongoing struggle to attract foreign direct investments.
The ongoing development of the Lagos-Calabar Coastal Highway has attracted immense criticism and approval as the Lagos state government continues to demolish numerous facilities to expedite construction.
The Minister of Works Dave Umahi has regularly backed the demolitions, saying they are necessary to enforce the government’s right-of-way.
However, the Presidency disagreed with Atiku. It asserted, “Various sectors of Nigeria’s economy, such as telecoms, manufacturing, solid minerals, oil and gas, e-commerce, and fintech, are attracting new Foreign Direct Investments from discerning investors who know Nigeria is a good market for bountiful returns.”
The Presidency also said should Atiku, who formed Intels Nigeria with an Italian businessman when he served in the Nigeria Customs Service, a “clear breach of extant public service regulations…be the one accusing someone else of conflict of interest?”
