‘Tinubu Must Go’ – He’s planning to obtain fresh $20bn loan for Coastal Highway project – Atiku

Former Vice-President Atiku Abubakar has criticised President Bola Tinubu over the reported rerouting of sections of the Lagos–Calabar Coastal Highway, demanding explanations for the changes and an account of the project’s financial commitments.

Atiku also called on the Federal Government to clarify an alleged plan to seek a loan of up to $20 billion from the National Assembly, reportedly to finance payments connected to the highway and Hitech Construction Company. He further alleged that some lawmakers were being pressured to approve the proposed borrowing.

In a statement issued by Phrank Shaibu, Director of Strategic Communication of the African Democratic Congress (ADC) Presidential Campaign Council, Atiku said the reported changes had raised questions about the original contract, revised designs, payments already made and the cost of completing the project.

“Tinubu sold Nigerians a coastal highway. Now his Minister says parts of it will follow an existing road inland. That is not a minor adjustment to a drawing. It strikes at the promise used to sell this enormous project. When the route changes, the price must be opened. When the work changes, the payments must be explained,” he said.

The former vice-president questioned whether adequate engineering studies had been conducted before the contract was awarded, particularly regarding the terrain, bridges and flood risks along the route.

He called on the Minister of Works, David Umahi, to publish the original engineering studies and revised designs to enable Nigerians to understand the reasons for the reported changes.

Atiku also criticised the government’s handling of the project, alleging that it had announced an ambitious plan before making changes without providing a comprehensive account of the financial implications.

He linked the controversy to the removal of the petrol subsidy, arguing that Nigerians were already facing economic pressures and should not be exposed to additional financial obligations arising from poorly explained changes to major infrastructure projects.

“If work on the original route will no longer be done, what has been removed from the contract? How much has already been paid? What is the revised price? You cannot change the work and refuse to change the bill,” he said.

Atiku demands clarification on alleged $20bn loan

Atiku urged Tinubu to publicly clarify whether the Federal Government was preparing to seek a $20 billion loan from the National Assembly and whether any portion of the proposed borrowing would be used to settle payments connected to Hitech Construction Company.

He demanded disclosure of the proposed loan, the contract it would finance and records of payments already made.

“Do not hide a contractor’s bill inside a national borrowing request. Publish the proposed loan, the contract it would finance and the record of what has already been paid. If no such request exists, say so plainly and on the record,” he said.

The former vice-president also alleged that some lawmakers had been warned that funds for their election campaigns could be withheld unless they approved the anticipated borrowing request.

He called on the leadership of the National Assembly to investigate the allegation and ensure lawmakers received the proposed loan terms and relevant project accounts before considering any request.

Atiku questioned whether the government intended to seek approval for further borrowing without allowing sufficient time for scrutiny.

“The leadership of the National Assembly must investigate this immediately. Every lawmaker should have the proposed terms, the project accounts and the time to examine both in public. Those facing threats should place them on the record,” he said.

Calls for publication of contract documents

Atiku demanded the publication of the original feasibility and environmental studies, route maps, Bills of Quantities, contract variations, Bureau of Public Procurement approvals, payment certificates and any borrowing proposals connected to the coastal highway.

He also called for a public hearing before the National Assembly considers additional financing for the project.

The ADC chieftain argued that changes to major infrastructure projects should be accompanied by transparent explanations of their financial implications, particularly when public borrowing is involved.

He maintained that a lack of transparency in capital spending could increase the risk of corruption and place additional pressure on citizens.

Atiku said an administration led by him would publish capital project costs, account for changes in project scope and expenditure, and subject public spending to independent audits.

“Nigerians are not against roads. They are against secret bills for changing plans. Tinubu must show the route, show the accounts and show the loan request,” he said.

He concluded by calling on the President to explain the reported changes to the highway and clarify whether any additional borrowing was being considered.

The claims concerning the proposed $20 billion loan and alleged pressure on lawmakers remain allegations made by Atiku. The statement did not establish whether a formal loan request had been submitted to the National Assembly.

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