ABUJA: Former Vice President and African Democratic Congress presidential candidate, Atiku Abubakar, has challenged President Bola Tinubu to explain reported concerns surrounding about $20 billion worth of projects allegedly linked to Lebanese Nigerian businessman, Gilbert Chagoury.
Atiku, through his Senior Special Assistant on Public Communication, Phrank Shaibu, said the issues reportedly raised by The Economist had taken questions surrounding government contracts, procurement and alleged political influence under the Tinubu administration beyond domestic political arguments.
In a statement issued on Monday, Atiku argued that the presidency could not dismiss the concerns by portraying those raising them as opposition politicians, stressing that The Economist was neither a political party nor an electoral opponent.
According to him, the reported value of the projects was too significant to be ignored, particularly amid the economic pressures facing Nigerians.
“At prevailing exchange rates, $20bn is approximately ₦27tn. 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,” Atiku said.
He questioned the process through which the projects were awarded and called for greater transparency concerning procurement procedures, tax concessions and the ownership of companies involved.
Atiku asked the Federal Government to clarify whether the contracts were subjected to competitive tendering, identify the beneficiaries and disclose any tax waivers or other privileges granted to the companies involved.
“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?” he asked.
The ADC presidential candidate also criticised what he described as the administration’s response to allegations of corruption and alleged cronyism, accusing the presidency of focusing on attacking critics instead of addressing the substance of the claims.
He maintained that the concerns deserved direct answers regardless of the political identity of those raising them.
Atiku further linked the issue to the economic reform programme of the Tinubu administration, which he said had imposed significant sacrifices on Nigerians through higher taxes, increased living costs and the removal of subsidies.
He argued that Nigerians deserved full disclosure on major government contracts, particularly those involving projects running into billions of dollars.
The former vice president consequently called on the Federal Government to publish relevant procurement records, ownership structures, tax concessions and other documentation relating to the projects reportedly associated with Chagoury-linked interests.
He said the matter should be viewed beyond the identity of any individual businessman and instead examined from the perspective of transparency, accountability and public interest.
Chagoury, a Lebanese-Nigerian businessman and founder of the Chagoury Group, has maintained a longstanding relationship with Tinubu. His business interests span areas including construction, real estate, hospitality and infrastructure.
The controversy comes as scrutiny of government procurement and major infrastructure projects intensifies ahead of the 2027 general election.
Atiku has continued to advocate greater transparency in public contracting and the disclosure of information that would allow Nigerians to assess whether government projects are awarded through competitive and transparent processes.
The former vice president’s latest demand is likely to add another layer to the growing political debate over government spending, major infrastructure contracts and alleged relationships between political leaders and private business interests ahead of the 2027 presidential election.
