OBASANJO ACCUSES TINUBU ADMINISTRATION OF WASTEFUL SPENDING, CORRUPTION

OBASANJO ACCUSES TINUBU ADMINISTRATION OF WASTEFUL SPENDING, CORRUPTION

Former President Olusegun Obasanjo has taken a swipe at President Bola Tinubu’s administration, accusing it of wasteful spending and corruption, particularly in awarding major contracts.

In his latest book, Nigeria: Past and Future, Obasanjo criticized the N15.6 trillion Lagos-Calabar Coastal Highway project, labeling it a financial burden that lacks accountability.

He further condemned the allocation of N21 billion for a new vice presidential residence, questioning its necessity at a time when Nigeria faces severe economic hardship.

“These projects are nothing but a means to divert public funds,” Obasanjo wrote, arguing that leadership priorities should focus on pressing issues like poverty alleviation and economic stability rather than extravagant expenditures.

The Lagos-Calabar Coastal Highway, expected to span 700km, has been mired in controversy since its announcement. The Federal Government awarded the contract to Hitech Construction Company, owned by Gilbert Chagoury, a long-time associate of Tinubu.

Critics, including Atiku Abubakar, have questioned why the project did not go through a competitive bidding process.

Minister of Works, David Umahi, defended the project, stating that it would cost N4.93 billion per kilometer and was structured as a counterpart-funded initiative rather than a Public-Private Partnership.

However, Obasanjo remains skeptical, warning that such deals only enrich a select few while ordinary Nigerians bear the cost.

Reflecting on the administration’s performance so far, the former president expressed concern over governance trends, stating, “It appears that the game of short-changing the over 230 million Nigerians will continue because everything is said to be transactional, and the slogan is ‘It is my turn to chop.’”

Obasanjo’s remarks add to growing discontent over the handling of national projects, with many Nigerians questioning whether the government is prioritizing the public good or personal enrichment.