Conflict of interest

Atiku Abubakar, the 2023 Peoples Democratic Party presidential candidate, has alleged that the Nigerian Government’s quick action on the Lagos-Calabar Coastal Highway is due to business ties between President Bola Tinubu and Gilbert Chagoury, the owner of Hitech, the project’s contractor. Atiku said the $13 contract award violated procurement regulations and placed Tinubu’s interests over those of taxpayers. Atiku highlighted the conflict of interest arising from Mr Tinubu’s son, Seyi, and some other associates serving on the boards of Chagoury’s companies. He also cited the lack of proper notice for demolishing the properties in the Oniru corridor, including the Landmark Resort, as a barrier to foreign direct investment.

It is important to highlight the hypocrisy within political circles. Atiku has been called out for engaging in similar business dealings during his tenure as Vice President, yet he now condemns others for doing the same. This hypocrisy undermines his credibility and exposes the double standards prevalent in Nigeria’s politics. Mr Abubakar, amongst other high-profile politicians who lost in the last general elections, has sought to stay relevant to the electorate by periodically commenting on front-burner national issues. But, having criticised Atiku on this issue, he is dead right. The circumstances surrounding the Lagos-Calabar Coastal Highway are very concerning. First, the government is swiftly initiating the project, although completion is projected to take at least five years. Rushing infrastructure projects can lead to numerous challenges. The haste to commence construction often results in insufficient planning and oversight, increasing the likelihood of cost overruns and delays. Second, enforcing the right of way has led to the demolition of some important structures, such as the Landmark Beach, disrupting communities and businesses. Third, the rush to demolish raises serious concerns about property rights, especially the enormous amounts of money invested in the Landmark Beach Resort. In keeping with our current theme, it would be difficult to convince investors to bring in money to an environment where all their investments could be destroyed on a whim. Fourth, funding the project solely through government resources neglects the potential benefits of public-private partnerships, which can bring in additional expertise and investment while mitigating financial risks. Assigning contracts without due process exacerbates these issues, opening the door to corruption and favouritism. Without transparent procurement procedures, contractors may be selected based on connections rather than competence, leading to substandard work and wasted resources. In summary, Mr Abubakar’s accusations highlight the need for accountability and transparency in governance. Rushed infrastructure projects and unchecked business ties only serve to undermine public trust and perpetuate a cycle of inefficiency and corruption.