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Obasanjo Slams FG, Says Lagos-Calabar Highway Project Wasteful, Corrupt

ByOlamilekan Adigun

PublishedMarch 13, 2025

N21bn VP Residence Misplaced Priority, Act To Embezzle Money
Says Everything About Tinubu Transactional

Former President Olusegun Obasanjo has slammed the federal government over the N15.6tn Lagos-Calabar Coastal Highway project.

Obasanjo described the N15.6tn Lagos-Calabar Coastal Highway project as wasteful and corrupt.

He equally slammed President Bola Tinubu’s administration for spending N21bn on a new official residence for Vice President Kashim Shettima, calling it a misplaced priority and conduit designed to embezzle public funds.

Thw former president disclosed this in chapter six of his new book, ‘Nigeria: Past and Future’ where he painted the portrait and characters of chief executives at both the federal and state levels.

The book was one of the two new books unveiled to mark Obasanjo’s 88th birthday last week.

The Minister of Works, David Umahi, had revealed that the 700km Lagos-Calabar Coastal Highway will cost N4.93bn per kilometre, stating that the contract was awarded on a counterpart-funding basis and not a Public-Private Partnership.

About N1.06tn has been released for the pilot phase, or six per cent of the project, which begins at Eko Atlantic and is expected to terminate at the Lekki Deep Sea Port.

Many prominent Nigerians, including the presidential candidate of the Peoples Democratic Party in the 2023 general elections, Atiku Abubakar, have questioned the Federal Government’s decision to award the contract to Gilbert Chagoury’s Hitech Construction Company without competitive bidding.

Chagoury is believed to be Tinubu’s long-time business partner and friend.

Assessing the two years of Tinubu in office, Obasanjo said it appears that the game of short-changing the over 230 million Nigerians would continue because “Everything is said to be transactional and the slogan is ‘It is my turn to chop.’’’

The former President said the majority of those who have been opportune to hold leadership positions in the country as governors, presidents, ministers, commissioners even as local government chairmen are ill-prepared, satanic, self-centred and are all out to corruptly enrich themselves while the nation continues to wallow in abject poverty and condemnable underdevelopment.

The former President pointed out that most office-seekers in the country would go as far as obtaining loans of billions of naira believing that paying back from the public funds after being elected won’t be a problem.

He stated, “How do you explain the situation of a chief executive, a governor, whose business was owing the banks billions of naira and millions of dollars before becoming a governor and within two years of becoming governor, without his company doing any business, he paid all that his businesses owed the banks.

“You are left to guess where the money came from. Having got away with that in the first term, he consigned to himself almost half of the state resources in the second term. He was a typical example of the goings-on at that level almost universally in the country with only a few exceptions.

“State resources are captured and appropriated to themselves with a pittance to staff and associates to close the mouths of those that could blow the whistle or raise alarm against them while in office and when they are out of office.’’

He further noted that “The ones that are criminally ridiculous are the chief executives that deceive, lie and try to cover up on the realities and truth of action and inaction on contract awards, agreements, treaties, borrowings and forward sales of national assets. Such chief executives are unfit for the job they find themselves in.

“Typical examples of waste, corruption a misplaced priority are the murky Lagos-Calabar Coastal Road on which the President had turned deaf ears to protests and the new Vice-President’s official residence built at a cost of N21bn in the time of economic hardship to showcase the administration hitting the ground running and to show the importance of the office of the Vice-President. What small minds!”

Olamilekan Adigun

Olamilekan Adigun is a graduate of Mass Communication with years of experience in journalism embedded in uncovering human interest stories. He also prioritises accuracy and factual reportage of issues.