$20bn Loan: Atiku raises alarm over Lagos-Calabar highway reroute, challenges Tinubu
The presidential candidate of the African Democratic Congress, ADC and former Vice President, Atiku Abubakar, has raised the alarm over the announced rerouting of the Lagos–Calabar Coastal Highway...
The presidential candidate of the African Democratic Congress, ADC and former Vice President, Atiku Abubakar, has raised the alarm over the announced rerouting of the Lagos–Calabar Coastal Highway amid uncertainty surrounding a planned $20 billion loan.
Atiku spoke in a statement on Monday.
DAILY POST reports that the Minister of Works, David Umahi, said in a statement that President Bola Tinubu had approved the rerouting of the Lagos–Calabar Coastal Highway through the existing East-West Road, from Ondo State into Edo State.
This comes amid reports that the Presidency is pressuring the National Assembly to approve a fresh $20 billion loan in connection with the project.
Reacting, Atiku said Tinubu’s government must address concerns over intelligence suggesting that a loan of up to $20 billion was being proposed.
“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.
“What kind of government boasts about a coastal highway before it can defend the route? Did Tinubu’s team study the swamps, bridges and flood risks before awarding the contract, or did it sign first and start thinking later? Minister David Umahi should stop offering engineering explanations without the engineering documents. Publish the original studies. Publish the revised design. Let Nigerians see what this government knew and when it knew it.”
Atiku said the development bore the familiar hallmarks of Tinubu’s “Yahoo-Yahoo” style of government: a grand announcement, a changed promise and a bill the public was forbidden to inspect.
“He removed the petrol subsidy without protecting Nigerians from the blow. Families are still paying for that decision every day. Now his government has put a coastal highway plan before Nigerians in the budget, changed parts of it midway and, according to the intelligence we have received, may be preparing to ask the country to borrow billions more. Nigerians have suffered enough from this government’s trial and error. They cannot be made to pay for another changed promise without seeing the accounts.
“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.
“Tinubu must answer this himself. Is a US$20 billion request being prepared for the National Assembly? Is any part of that money meant for Hitech? What contract, what section of road and what certified work would justify the payment? 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,” Atiku stated.
