Atiku Says He’s Vindicated On Coastal Highway Cost, Demands Independent Audit – Arise News

Atiku Says He’s Vindicated On Coastal Highway Cost, Demands Independent Audit – Arise News


Former Vice President Atiku Abubakar on Wednesday said he had been vindicated over his revelation that the coastal highway cost was too high.

Atiku also demanded that the project be subjected to an independent value-for-money audit. He said further payments should be suspended until Nigerians were assured that the project genuinely served the national interest.

A statement by Special Assistant on Public Communication to the former vice president, Phrank Shaibu, said, “When the Tinubu administration unveiled the Lagos–Calabar Coastal Highway project, former Vice President Atiku Abubakar raised the alarm that the project’s cost was inflated to an outrageous N8 billion per kilometre.

“At the time, the Minister of Works, David Umahi, dismissed the claim, insisting in a 2024 interview that: ‘You will find out that our cost is N4 billion instead of the N8 billion claimed by the former vice president.’”

Shaibu stated, “However, the same minister has now done a volte face and admitted the actual cost is, indeed, closer to N8 billion per kilometre – precisely what Atiku warned Nigerians about.”

The statement said, “This admission not only vindicates the former vice president’s position but also exposes the Tinubu administration’s lack of transparency in managing one of the most expensive infrastructure projects in Nigeria’s history.

“Atiku had earlier questioned both the cost structure and financing model of the coastal highway, describing it as opaque, inflated, and suspiciously designed to benefit vested interests rather than the Nigerian people.

“Now, even by the minister’s own account, the federal government’s commitment is only 15 per cent–30 per cent of the total project cost, meaning the bulk of the estimated $11 billion would supposedly be sourced by the contractor. This raises fundamental questions.”

The statement asked, “Who are the actual financiers? What sovereign guarantees underpin this arrangement?

“How did a project initially presented as cost-efficient balloon to Atiku’s projected figure?

The statement added, “This development reinforces Atiku Abubakar’s consistent call for due process, competitive bidding, and transparency in all major public projects. Nigerians deserve openness, not contradictions and concealed deals.

“Once again, Atiku has proven himself a statesman who speaks truth to power – not out of politics, but out of patriotism. He understands that every inflated contract represents theft from the Nigerian people.”

Shaibu said, in the statement, “We, therefore, call on the Tinubu administration to: publish the full contractual details, including financing terms and counterpart obligations;

“Subject the project to an independent value-for-money audit; and suspend further payments until Nigerians are assured that the project genuinely serves national interest.”

Chuks Okocha

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Source: Arise

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