‘Tinubu Must Go’, Atiku Says, Raises Alarm Over Alleged $20bn Loan Plan

Former Vice President Atiku Abubakar has called on President Bola Tinubu to leave office, accusing his administration of changing the Lagos–Calabar Coastal Highway project without adequately explaining the financial implications.

Atiku also raised concerns over intelligence he said he had received about a possible $20 billion loan request, reportedly linked to payments involving the coastal highway and Hitech Construction Company.

The former vice president made his position known in a statement issued by Phrank Shaibu, Director of Strategic Communication for the African Democratic Congress (ADC) Presidential Campaign Council.

He argued that the government’s decision to reroute sections of the coastal highway towards an existing inland road had raised serious questions about the project’s original design, cost and execution.

According to Atiku, Nigerians deserve to know why the route was changed, what informed the initial decision and how the adjustments would affect the total contract price.

He questioned whether the government had adequately assessed the engineering challenges associated with swamps, bridges and flood risks before awarding the contract.

Atiku called on Works Minister David Umahi to publish the original feasibility studies, environmental assessments and revised engineering designs to enable the public to examine the reasons behind the changes.

The former vice president accused the Tinubu administration of announcing major projects without providing sufficient transparency when changes become necessary.

He linked the controversy to the removal of the petrol subsidy, arguing that Nigerians were still struggling with the economic consequences of the decision.

Atiku warned that citizens should not be expected to shoulder additional financial burdens arising from changes to major infrastructure projects without a proper explanation of public spending.

He demanded that the Federal Government disclose the sections of the original highway contract that had been altered or removed, the amount already paid to contractors and the revised cost of the project.

According to him, changing the scope of a project should require a corresponding explanation of its financial implications.

He maintained that the government must account for every payment and explain how the revised construction plan would affect the overall budget.

Atiku Raises Alarm Over Alleged $20bn Loan

Atiku also challenged Tinubu to clarify reports of a possible loan request of up to $20 billion that could be presented to the National Assembly.

He said the information available to him suggested that the proposed borrowing might be connected to payments relating to the coastal highway and Hitech Construction Company.

The former vice president asked whether the government was preparing such a request and demanded details of the contracts, road sections and certified work that would justify the expenditure.

He urged the Federal Government to publish the proposed loan terms, the contracts the funds would finance and records of payments already made.

Atiku warned against incorporating a contractor’s payment into a broader national borrowing request without allowing Nigerians to examine the details.

He insisted that the government should publicly confirm whether the loan request existed and explain its intended purpose.

The alleged $20 billion borrowing plan has not been established as an approved loan. Its existence, terms and connection to the highway require official confirmation.

Atiku further alleged that some lawmakers had been warned that funds for their election campaigns could be withheld unless they approved the anticipated borrowing request quickly.

He questioned who was allegedly making the threats and why campaign funding would be linked to decisions that could increase Nigeria’s public debt.

The former vice president called on the leadership of the National Assembly to investigate the claims and ensure that lawmakers had adequate time to examine the proposed loan and relevant project accounts.

He also urged legislators who had allegedly faced pressure to document the incidents and bring them to the attention of the appropriate authorities.

Atiku argued that any borrowing proposal should undergo proper legislative scrutiny rather than being rushed through under political pressure.

The allegation of threats against lawmakers has not been independently verified, and the individuals concerned would need an opportunity to respond.

Atiku Demands Public Hearing, Disclosure of Documents

The former vice president called for the release of the original feasibility and environmental studies, initial and revised route maps, Bills of Quantities, contract variations, Bureau of Public Procurement approvals and payment certificates relating to the highway.

He also demanded that any borrowing proposal connected to the project be made public and called for a public hearing before the National Assembly considers additional financing.

Atiku argued that transparent budgeting and independent audits were necessary to ensure that public infrastructure projects delivered value for money.

He said an administration led by him would make capital expenditure more transparent, properly account for changes in project scope and cost, and subject public spending to independent audits.

According to him, Nigerians are not opposed to road construction but deserve an explanation when changes to a project lead to questions about its cost and financing.

Concluding his statement, Atiku criticised what he described as a pattern of major announcements followed by costly changes without adequate public accounting.

“Enough of grand announcements followed by expensive surprises. Tinubu must go,” he declared.