Former Vice President Atiku Abubakar, has charged President Bola Tinubu to explain the questions reportedly raised by The Economist magazine over about $20 billion worth of projects linked to Gilbert Chagoury, his long-time associate.

Atiku, who is also the 2027 Presidential Candidate of the African Democratic Congress (ADC)said The Economist report has elevated concerns over the procurement process of the present administration from domestic suspicion to an international credibility crisis.

The former Vice President, in a statement by his Senior Special Assistant on Public Communication, Phrank Shaibu, said Presidency must respond specifically to the issues reportedly raised by The Economist concerning procurement, taxation and the relationship between political proximity and access to major government projects.

According to him, “At prevailing exchange rates, $20 billion is approximately ₦27 trillion. 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.

“This is not pocket change. This is an amount approaching the scale of entire national budgets. 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.

“The questions are simple: 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?

“President Tinubu cannot answer every allegation of corruption and cronyism by deploying presidential spokesmen to abuse critics. 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 challenged the Presidency to publish the procurement details, ownership structures, tax concessions and other relevant information concerning the projects reportedly identified by The Economist.

“You cannot preach sacrifice to hungry Nigerians while questions hang over ₦27 trillion worth of projects linked to your friend. That is not reform. It is an assault on public trust.”

“Nigeria is a republic, not a friends-and-family investment portfolio. ₦27 trillion demands answers. President Tinubu must provide them,” he stated. (The Sun)