The Presidency has refuted former Vice President Atiku Abubakar’s claims of conflict of interest in the awarding of the Lagos-Calabar coastal highway contract by the Federal Government. Atiku alleged that the contract was awarded to Hitech Construction Company due to its owner, Gilbert Chagoury’s business ties with President Bola Tinubu, and pointed out Tinubu’s son, Seyi, sits on the board of a company owned by Chagoury.

In response, the Presidency denied Atiku’s claims, stating that Atiku lacks the moral authority to question conflict of interest issues. The statement, titled ‘Atiku Abubakar’s penchant for distorting facts,’ signed by Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, highlighted Atiku’s own past business involvements, including forming Intels Nigeria while serving in the Nigeria Customs Service, which the Presidency deemed as a breach of public service regulations.

The Presidency also questioned Atiku’s actions during his tenure as Vice President, accusing him of maintaining business links with Intels, which won major port concession deals, and approving the sales of over 145 state-owned enterprises to friends and associates. It defended Seyi Tinubu’s right to engage in legitimate business activities and dismissed any conflict between his position on CDK’s board and Hitech Construction Company’s work on the Lagos-Calabar Coastal highway.

Furthermore, the Presidency countered Atiku’s assertion that the demolition of buildings for the highway would deter investors, citing various sectors of Nigeria’s economy attracting significant foreign direct investments under the Tinubu administration. It cited President Tinubu’s trip to India for the G20 summit, where new investments were promised, and highlighted the surge in foreign investment in Nigeria’s stock market since Tinubu assumed office.

The Presidency concluded by urging all Nigerians, regardless of political affiliation, to support initiatives aimed at promoting unity and economic development. It defended infrastructural projects like the Lagos-Calabar Coastal Highway as crucial for stimulating the economy, akin to US President Joe Biden’s infrastructure deal. Finally, it dismissed reports about the IMF reclassifying Nigeria’s economy, attributing any fluctuations to currency devaluation and expressing confidence in Nigeria’s economic resilience.