According to Phrank Shaibu, former Vice President Atiku Abubakar’s Special Assistant on Public Communication, his principle has been exonerated of charges of inflating the cost of the coastal highway connecting Lagos and Calabar.
In an announcement on Wednesday, Shaibu requested that the Federal Government release all contractual information, submit the project to an impartial value-for-money analysis, and halt additional payments.
According to the statement, “former Vice President Atiku Abubakar expressed concern that the Lagos–Calabar coastal highway project’s cost had been exaggerated to an absurd N8 billion per kilometer when the Tinubu administration revealed it.
“In a 2024 interview, David Umahi, the Minister of Works at the time, rejected the assertion, stating that “you will see that our cost is N4 billion instead of the N8 billion reported by the former vice president.”
But now, the same minister has changed his mind and acknowledged that the true cost is actually closer to N8 billion per kilogram, which is exactly what Atiku forewarned Nigerians of.
In addition to supporting the former vice president’s stance, he said, “this admission reveals the Tinubu administration’s lack of transparency in overseeing one of the most costly infrastructure projects in Nigeria’s history.”
Atiku had previously questioned the coastal highway’s financing strategy and cost structure, calling it opaque, exaggerated, and dubious in its design to serve special interests rather than the Nigerian people.
The Federal Government’s commitment is only 15% to 30% of the project’s overall cost, even by the minister’s own estimation, therefore the contractor would presumably be responsible for sourcing the majority of the projected $11 billion. Fundamental questions are brought up by this: Who are the real financiers? What are the sovereign guarantees that support this agreement? How did a project that looked cost-effective at first compare to Atiku’s estimated amount?
“Atiku Abubakar’s persistent demands for due process, competitive bidding, and transparency in all significant public projects are strengthened by this development. Nigerians are entitled to transparency, not contradictions and covert transactions.
Atiku has once again shown himself to be a statesman who speaks truth to power, but this time out of patriotism rather than politics. He is aware that each exorbitant contract is a steal from the Nigerian people.
As a result, we urge the Tinubu administration to: Conduct an independent value-for-money audit of the project; publish all contractual details, including financing terms and counterparty obligations; and halt further payments until Nigerians are convinced that the project genuinely serves the country’s interests.
“The Nigerian people are watching—and Atiku Abubakar has been proven right again by history.”
