Coastal Highway: ‘Your Son on Chagoury’s Board is a Conflict of Interest,’ Atiku Tells Tinubu

In a recent statement issued by Paul Ibe, media aide to Atiku Abubakar, the former Vice President and presidential candidate of the Peoples Democratic Party (PDP) in the 2023 elections, raised concerns regarding a potential conflict of interest in the awarding of the construction contract for the Lagos-Calabar Coastal Highway.

The federal government’s decision to entrust the construction of the 700km coastal road to Hitech Construction Company Ltd. has stirred controversy, particularly regarding the involvement of individuals with ties to the project’s contractors.

Atiku pointed out that Seyi Tinubu, son of President Bola Tinubu, serves as a director on the board of CDK Integrated Industries, a subsidiary of the Chagoury Group, which is the parent company of Hitech Construction Company Ltd.

Citing a report by the Paris-based Africa Intelligence News Agency, Atiku highlighted Seyi Tinubu’s formalized business partnership with the owners of Hitech Construction Company Ltd., raising concerns about potential conflicts of interest.

CDK Integrated Industries, a company under the Chagoury Group umbrella, manufactures ceramic tiles and sanitary towels, and Seyi Tinubu’s directorship in the company further deepens the perceived conflict of interest.

Atiku accused President Tinubu of prioritizing personal and familial business interests over the welfare of the nation, criticizing the rushed nature of the coastal highway project and its lack of competitive bidding.

Furthermore, Atiku questioned the allocation of funds for the project, alleging that over N1 trillion was released without approval from the National Assembly, bypassing proper legislative procedures.

The former Vice President also expressed apprehension about the potential awarding of similar projects, such as the Badagry-Sokoto highway, in a manner that could further burden taxpayers due to perceived conflicts of interest.

The Chagoury Group, founded by Gilbert and Ronald Chagoury, boasts a diverse portfolio spanning construction, real estate, hospitality, glass, and flour milling businesses. Gilbert Chagoury, a significant figure within the conglomerate, has been involved in various ventures, including funding the Eko Atlantic project through South Energyx Nigeria Limited, a subsidiary of the Chagoury Group.

In 2023, Gilbert Chagoury was listed among Nigeria’s delegation to COP28 in Dubai, United Arab Emirates, as a confidante of President Tinubu, further emphasizing the close ties between the Chagoury Group and key political figures.