Former vice president Atiku Abubakar has asked the federal government to publish the full contractual details, including financing terms and counterpart obligations of Lagos–Calabar Coastal Highway project.
He also said the project should be subjected to an independent value-for-money audit while further payments are suspended until Nigerians are assured it genuinely serves national interest.
Atiku stated this while stressing that he has been vindicated over the admittance by the minister of Works, David Umahi, that the actual cost is indeed closer to N8 billion per kilometre.
According to a statement by Atiku’s media aide, Phrank Shaibu, the minister had, in 2024, had countered Atiku’s disclosure that the project came at a cost of N8 billion per kilometre.
“When the Tinubu administration unveiled the Lagos–Calabar Coastal Highway project, former Vice President Atiku Abubakar raised the alarm that the project’s cost was inflated to an outrageous N8 billion per kilometre.
“At the time, the Minister of Works, David Umahi, dismissed the claim, insisting in a 2024 interview that: ‘You will find out that our cost is N4 billion instead of the N8 billion claimed by the former Vice President.’
“However, the same minister has now done a volte face and admitted that the actual cost is indeed closer to N8 billion per kilometre — precisely what Atiku warned Nigerians about.
“This admission not only vindicates the former Vice President’s position but also exposes the Tinubu administration’s lack of transparency in managing one of the most expensive infrastructure projects in Nigeria’s history.”
Atiku said he had earlier questioned both the cost structure and financing model of the coastal highway, describing it as opaque, inflated, and suspiciously designed to benefit vested interests rather than the Nigerian people.
“Now, even by the Minister’s own account, the Federal Government’s commitment is only 15%–30% of the total project cost, meaning the bulk of the estimated $11 billion would supposedly be sourced by the contractor. This raises fundamental questions: Who are the actual financiers? What sovereign guarantees underpin this arrangement? How did a project initially presented as cost-efficient balloon to Atiku’s projected figure?
“This development reinforces Atiku Abubakar’s consistent call for due process, competitive bidding, and transparency in all major public projects.
Nigerians deserve openness, not contradictions and concealed deals.
“Once again, Atiku has proven himself a statesman who speaks truth to power — not out of politics, but out of patriotism. He understands that every inflated contract represents theft from the Nigerian people.
“We, therefore, call on the Tinubu administration to: Publish the full contractual details, including financing terms and counterpart obligations;
“Subject the project to an independent value-for-money audit; and Suspend further payments until Nigerians are assured that the project genuinely serves national interest.
“The Nigerian people are watching — and history, yet again, has vindicated Atiku Abubakar,” the statement said.
