Coastal Highway: Atiku Alleges Pressure On National Assembly To Approve Fresh $20Bn Loan

Former Vice-President Atiku Abubakar has alleged intelligence that pressure is being mounted on federal legislators to approve a loan of up to $20 billion linked to coastal highway payments.

The ADC presidential candidate added that President Bola Tinubu’s decision to reroute parts of the Lagos-Calabar Coastal Highway has raised questions over the original approval, contract award and payments made for the project.

Atiku, in a statement on Sunday by Phrank Shaibu, Director of Strategic Communication of the ADC Presidential Campaign Council, demanded that the Federal Government publish the full details of the project and address the alleged borrowing plan.

“Tinubu sold Nigerians a coastal highway. Now his Minister says parts of it will follow an existing road inland. That is not a minor adjustment to a drawing. It strikes at the promise used to sell this enormous project. When the route changes, the price must be opened. When the work changes, the payments must be explained,” Atiku said.

He questioned whether adequate feasibility studies were done before the contract was awarded.

“What kind of government boasts about a coastal highway before it can defend the route? Did Tinubu’s team study the swamps, bridges and flood risks before awarding the contract, or did it sign first and start thinking later? Minister David Umahi should stop offering engineering explanations without the engineering documents. Publish the original studies. Publish the revised design,” he said.

Atiku described the development as characteristic of what he called Tinubu’s “Yahoo-Yahoo style of government” — a grand announcement followed by a changed promise and a hidden bill.

“He removed the petrol subsidy without protecting Nigerians from the blow. Families are still paying for that decision every day. Now his government has put a coastal highway plan before Nigerians in the budget, changed parts of it midway and, according to the intelligence we have received, may be preparing to ask the country to borrow billions more,” he said.

“If work on the original route will no longer be done, what has been removed from the contract? How much has already been paid? What is the revised price? You cannot change the work and refuse to change the bill,” he added.

The former vice-president demanded a direct response from the President on the alleged loan.

“Tinubu must answer this himself. Is a US$20 billion request being prepared for the National Assembly? Is any part of that money meant for Hitech? What contract, what section of road and what certified work would justify the payment? Do not hide a contractor’s bill inside a national borrowing request,” Atiku said.

“If no such request exists, say so plainly and on the record.”

He further alleged that some lawmakers were being threatened that campaign funds would be withheld unless they quickly pass the anticipated loan request.

“We are informed that some lawmakers have been warned that funds for their election campaigns will be withheld unless they pass this request with the speed of light. Who is making that threat? Whose money is being promised or withheld? And why should any legislator’s campaign depend on voting to put Nigerians in debt?” he said.

Atiku called on the leadership of the National Assembly to investigate the allegation and ensure lawmakers are given the proposed terms and project accounts to examine in public.

“The leadership of the National Assembly must investigate this immediately. Every lawmaker should have the proposed terms, the project accounts and the time to examine both in public. Those facing threats should place them on the record,” he said.

He demanded publication of the original feasibility and environmental studies, original and revised route maps, Bills of Quantities, contract variations, Bureau of Public Procurement approvals, payment certificates and all borrowing proposals tied to the project, as well as a public hearing before further financing is considered.

“This is the policy inconsistency that has defined Tinubu’s government and made an already severe cost of living crisis harder for Nigerians to bear. When capital spending is hidden from scrutiny, corruption has room to grow and the people suffer more,” he said.

“An Atiku administration will budget capital projects transparently, account for every change in scope and cost, and subject spending to independent audit. Nigerians are not against roads. They are against secret bills for changing plans. Tinubu must show the route, show the accounts and show the loan request.

“Enough of grand announcements followed by expensive surprises. Tinubu must go,” Atiku added.

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