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Atiku challenges President Tinubu to personally explain the alleged $20 billion (₦27 trillion) worth of projects reportedly linked to businessman Gilbert Chagoury, describing the issue as a test of his administration’s transparency.
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The ADC presidential candidate says The Economist is not a political opponent and insists the Presidency must answer questions on contract awards, procurement procedures, tax waivers and the ownership of companies involved.
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He argues that Nigerians cannot be asked to endure worsening economic hardship and higher taxes while unanswered questions persist over projects allegedly concentrated around a close associate of the President.
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Atiku demands the immediate publication of procurement records, ownership structures and all concessions granted on the projects, warning that failure to provide answers would further undermine public trust in the Tinubu administration.
August 11, (THEWILL) — Former Vice President and Presidential Candidate of the African Democratic Congress (ADC), Atiku Abubakar, has challenged President Bola Tinubu to publicly explain the circumstances surrounding about $20 billion (approximately ₦27 trillion) worth of government projects reportedly linked to Gilbert Chagoury, a long-time associate of the President.
Atiku said Nigerians deserve transparency rather than appeals for economic sacrifice, insisting that the questions reportedly raised by The Economist have elevated concerns over the Tinubu administration’s procurement practices from domestic political criticism to an international credibility issue.
In a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, the former vice president argued that the Presidency could no longer dismiss the controversy as partisan attacks.
“You cannot preach sacrifice to hungry Nigerians while questions hang over ₦27 trillion worth of projects linked to your friend. That is not reform. It is an assault on public trust”, Atiku declared.
He maintained that the scale of the projects demands full public accountability, noting that the estimated ₦27 trillion involved is comparable to the annual budgets of key government institutions.
Atiku said President Tinubu should personally respond to the issues reportedly raised by The Economist, rather than allowing presidential aides to attack critics.
According to him, the questions concern the integrity of public procurement, transparency in governance and whether political relationships influenced access to major government contracts.
“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.
He added: “The Economist is not an opposition party. It is not on the ballot in 2027. The President should answer the questions it has raised.”
The ADC presidential candidate called on the Federal Government to immediately publish all procurement documents relating to the projects reportedly identified by The Economist, including ownership records, tax concessions, waivers and every other relevant detail.According to Atiku, Nigerians deserve to know how projects allegedly worth about $20 billion became concentrated around businesses linked to a close associate of the President.
“At prevailing exchange rates, $20 billion is approximately ₦27 trillion. 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.
“This is not pocket change. This is an amount approaching the scale of entire national budgets. Nigerians cannot be asked to tighten their belts while those around the President appear to be tightening their grip on some of the biggest contracts in the country”, he said.
Atiku argued that the controversy strikes at the heart of the Tinubu administration’s economic reform programme because citizens are simultaneously grappling with soaring inflation, higher taxes, rising living costs and worsening economic hardship.
He warned that public confidence in the government’s reform agenda would continue to erode unless the Presidency addressed the issues directly and transparently.
“Nigeria is a republic, not a friends-and-family investment portfolio. ₦27 trillion demands answers. President Tinubu must provide them”, he stated.
As of the time of filing this report, the Presidency had not issued an official response to Atiku’s latest allegations and demands regarding the reported projects.