Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has called on President Bola Tinubu to explain reports linking more than $20 billion worth of projects to Gilbert Chagoury, a long-time associate of the President.
Atiku made the demand in a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, following reports published by The Economist on August 9, 2026.
He said the report had raised serious questions about the Tinubu administration’s procurement practices and could damage the government’s credibility internationally.
According to Atiku, the reported $20 billion is equivalent to about N27 trillion at prevailing exchange rates, adding that Nigerians deserve to know how projects of such huge value became concentrated around companies allegedly connected to a close associate of the President.
He questioned whether the contracts were awarded through competitive bidding and asked the government to disclose details of the beneficiaries, ownership structures, tax concessions and other privileges associated with the projects.
Atiku also asked why Chagoury, whom he described as a close associate of Tinubu, continues to be linked to major government projects worth billions of dollars.
He argued that the Presidency should directly address the concerns rather than dismissing criticism through statements from presidential aides.
“The Economist is not an opposition party. It is not on the ballot in 2027. The President should answer the questions it has raised,” Atiku said.
The former vice president further linked the controversy to the economic difficulties facing Nigerians, arguing that citizens are being asked to endure higher taxes and rising living costs while questions remain over major government contracts.
He therefore urged the Federal Government to make public the procurement records, ownership details, tax concessions and other relevant information concerning the projects mentioned in the report.
Atiku maintained that the government must provide clear answers to protect public confidence and demonstrate transparency in the management of public resources.
