Alleged N27trn Deals: Atiku challenges Tinubu to publish procurement details

Presidential candidate Atiku Abubakar has demanded that Nigerian President Bola Tinubu publicly disclose procurement details for approximately $20 billion (₦27 trillion) worth of projects reportedly linked to a close associate of the president. Abubakar, representing the African Democratic Congress (ADC), stated that these revelations, highlighted by The Economist, have escalated concerns about the Tinubu administration's procurement practices from domestic suspicion to an international credibility crisis.

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Nigerians deserve to know how projects of such staggering value became concentrated around businesses linked to one man who happens to be a close associate of the President.

"Nigerians deserve to know how projects of such staggering value became concentrated around businesses linked to one man who happens to be a close associate of the President," Abubakar said in a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu. He emphasized the immense scale of the funding, noting it approaches the value of entire national budgets. Abubakar criticized the apparent disparity between the public's economic hardship and the concentration of major contracts around presidential allies, stating, "Nigerians cannot be asked to tighten their belts while those around the President appear to be tightening their grip on some of the biggest contracts in the country."

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Nigerians cannot be asked to tighten their belts while those around the President appear to be tightening their grip on some of the biggest contracts in the country.

Abubakar urged the Presidency to directly address the specific issues raised by The Economist regarding procurement, taxation, and the relationship between political proximity and access to major government projects. He posed critical questions: "Who awarded these contracts? Were they competitively tendered? What tax concessions, waivers or privileges were granted? Who are the ultimate beneficial owners? And why does the same presidential associate keep appearing around projects worth billions of dollars?"

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Who awarded these contracts? Were they competitively tendered? What tax concessions, waivers or privileges were granted? Who are the ultimate beneficial owners? And why does the same presidential associate keep appearing around projects worth billions of dollars?

The opposition candidate stressed that The Economist is a reputable international publication, not a political opponent, and its questions warrant a direct response from the President. Abubakar argued that the controversy undermines the administration's credibility, especially as Nigerians face increased taxes, soaring living costs, and economic hardship under the guise of sacrifice. He concluded by asserting, "Nigeria is a republic, not a friends-and-family investment portfolio. ₦27 trillion demands answers. President Tinubu must provide them."

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The Economist is not an opposition party. It is not on the ballot in 2027. The President should answer the questions it has raised.