Atiku Dares Tinubu to Uncover $20 Billion Chagoury Project Secrets

Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has issued a direct challenge to President Bola Tinubu, demanding explanations regarding approximately $20 billion (₦27 trillion) worth of projects. These projects are reportedly linked to Lebanese-Nigerian businessman Gilbert Chagoury, a long-time associate of the President.

Atiku, through a statement released on Monday by his Senior Special Assistant on Public Communication, Phrank Shaibu, highlighted that concerns over the Tinubu administration’s procurement practices have escalated from domestic suspicion to an international credibility crisis, following reported revelations by The Economist. He emphasized the sheer magnitude of these projects, which, at prevailing exchange rates, amount to approximately ₦27 trillion, an sum nearing the scale of entire national budgets.

The former Vice President stated that Nigerians are entitled to detailed explanations on how contracts of such significant value became concentrated around businesses associated with Chagoury. He critically questioned the notion of asking Nigerians to endure economic hardship and tighten their belts while such vast contracts appear to be consolidated among those close to the President.

Specifically, Atiku urged the Presidency to address the issues raised by The Economist concerning procurement processes, taxation, and the potential correlation between political proximity and access to major government projects. He posed several critical questions: the identity of the contract awarding authorities, whether competitive tendering processes were followed, details of any tax concessions, waivers, or privileges granted, the ultimate beneficial owners, and the recurring presence of the same presidential associate in projects worth billions of dollars.

Atiku underscored that The Economist, as an independent international publication, is not an opposition party, and its inquiries warrant direct and transparent answers from the President, rather than rhetorical responses from presidential spokesmen. He warned that this controversy has significant implications for the credibility of the Tinubu administration, particularly at a time when Nigerians are grappling with increased taxes, escalating living costs, and severe economic hardship.

He further asserted that preaching sacrifice to a struggling populace becomes untenable when substantial questions persist over projects worth ₦27 trillion linked to the President's associate, labeling such a situation as an