Former Vice President Atiku Abubakar has asked the Federal Government to make public the full contractual terms of the Lagos–Calabar Coastal Highway project, including the conditions for financing and the counterpart undertakings. In addition, he asked for an independent value-for-money audit to be conducted and payment halted until Nigerians are assured that the project is in the national interest.
In a statement by his media aide, Phrank Shaibu, Atiku said he has been vindicated by the admission of the Minister of Works, David Umahi, that the actual cost of the project is closer to N8 billion per kilometre.
“When the Tinubu administration announced the Lagos–Calabar Coastal Highway project, the then Vice President Atiku Abubakar warned that the cost is inflated to a ridiculous N8 billion per kilometre. Then Minister of Works, David Umahi, refuted the claim then, insisting that the project will come at N4 billion per kilometre,” the statement went on.
“But the same minister has now admitted that the actual cost is actually closer to N8 billion per kilometre just what Atiku had warned Nigerians about. This admission not only vindicates Atiku’s name but also demonstrates the transparency of the Tinubu administration in dealing with one of Nigeria’s most expensive infrastructural projects ever.”
Atiku, who had already criticized both the funding structure and cost of the project, described the agreement as opaque and bloated, stating that it appeared to be designed for the benefits of vested interests rather than the Nigerian people.
He also noted that the Federal Government is reportedly contributing 15% to 30% of the cost and that the balance is reportedly being covered by the contractor.
“This raises very serious questions,” Atiku said. “Who are the actual financiers? What sovereign guarantees are behind the deal? And how did a project originally introduced as cost-saving balloon blow up to N8 billion per kilometre?”
Reiterating his call for due process and transparency, Atiku said Nigerians are owed openness, not secrecy and inconsistent claims.
“Once again, Atiku Abubakar has been proved right. His call for transparency is not political but patriotic. Every bloated contract is a theft of the people of Nigeria,” the statement concluded.
He therefore urged the Tinubu administration to:
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Release all contractual and funding details on the Lagos–Calabar Coastal Highway project.
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Undergo a value-for-money audit by an independent auditor.
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Withhold all subsequent payments until and unless transparency and national interest are guaranteed.
