The Presidential Candidate of the African Democratic Congress (ADC), Atiku Abubakar, has challenged President Bola Tinubu to explain the disturbing questions reportedly raised by The Economist over about $20 billion worth of projects linked to his long-time associate, Gilbert Chagoury.
Atiku made the challenge in a statement on Monday by his Senior Special Assistant on Public Communication, Phrank Shaibu, on Monday.
He was reacting to a report by The Economist outlining alleged cronyism, lack of competitive bidding, and opaque contract awards linked to a presidential associate.
In his reaction, Atiku said the reported revelations have 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.
“This is not pocket change. This is an amount approaching the scale of entire national budgets. Nigerians cannot be asked to tighten their belts while those around the President appear to be tightening their grip on some of the biggest contracts in the country,” he said.
The former second citizen said the Presidency must respond specifically to the issues reportedly raised by The Economist concerning procurement, taxation and the relationship between political proximity and access to major government projects.
“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?
“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 said.
The ADC presidential candidate said the controversy strikes at the heart of the administration’s credibility because Nigerians are simultaneously being subjected to higher taxes, soaring living costs and unprecedented economic hardship in the name of sacrifice.
He therefore challenged the Presidency to publish the procurement details, ownership structures, tax concessions and other relevant information concerning the projects reportedly identified by The Economist.
“Nigeria is a republic, not a friends-and-family investment portfolio. ₦27 trillion demands answers. President Tinubu must provide them,” Atiku insisted.
