Atiku Challenges Tinubu Over $20bn Chagoury-Linked Projects
Former Vice President Atiku Abubakar has challenged President Bola Tinubu to provide explanations for
questions raised by The Economist concerning approximately $20 billion worth of projects linked to
Lebanese-Nigerian businessman Gilbert Chagoury, a long-time associate of the president.
In a statement issued on Monday by his Senior Special Assistant on Public Communication, Phrank
Shaibu, Atiku said the report had elevated concerns about the Tinubu administration’s procurement
practices from domestic suspicion to an international credibility crisis.
“At prevailing exchange rates, $20 billion is approximately ₦27 trillion. Nigerians deserve to know how
projects of such staggering value became concentrated around businesses linked to one man who
happens to be a close associate of the President,” Atiku said.
He called on the presidency to provide specific answers on the award of contracts, competitive
tendering processes, tax concessions or waivers granted, and the ultimate beneficial owners of the
companies involved.
“The questions are simple: Who awarded these contracts? Were they competitively tendered? What tax
concessions, waivers or privileges were granted? Who are the ultimate beneficial owners? And why
does the same presidential associate keep appearing around projects worth billions of dollars?” he
asked.
Atiku criticised what he described as the administration’s pattern of responding to allegations of
corruption and cronyism by attacking critics rather than addressing the substance of the claims.
“President Tinubu cannot answer every allegation of corruption and cronyism by deploying presidential
spokesmen to abuse critics. The Economist is not an opposition party. It is not on the ballot in 2027. The
President should answer the questions it has raised,” he stated.
The African Democratic Congress (ADC) presidential candidate argued that the controversy undermined
the government’s credibility at a time when Nigerians face higher taxes, rising living costs and economic
hardship under the banner of reform and sacrifice.
“You cannot preach sacrifice to hungry Nigerians while questions hang over ₦27 trillion worth of
projects linked to your friend. That is not reform. It is an assault on public trust,” Atiku said.
He challenged the Federal Government to make public the full procurement records, ownership
structures, tax concessions and other relevant details relating to the projects identified by The
Economist.
“Nigeria is a republic, not a friends-and-family investment portfolio. ₦27 trillion demands answers.
President Tinubu must provide them,” he concluded.
Chagoury, founder of the Chagoury Group, has maintained a longstanding relationship with Tinubu.
The statement follows reports of questions raised by the British publication over the concentration of
major projects around businesses linked to the businessman.
By Oyinkansola Shittu.
