Atiku accuses Tinubu of conflict of interest

Former Vice President Atiku Abubakar has accused President Bola Tinubu's administration of turning Nigeria into a private enterprise, alleging that the president has integrated his business interests into the country's public enterprises. Atiku claims that Tinubu has replicated the same business model he used in Lagos, where companies like Alpha Beta and Primero act as his proxies, managing critical sectors and generating revenue for him and his family.

Atiku specifically pointed out the acquisition of OVH by NNPC Retail, where Wale Tinubu's Oando owns 49%. However, NNPC has denied these claims, stating that neither President Bola Tinubu nor Wale Tinubu has stakes in OVH Limited. According to NNPC, Oando had fully divested its equity in OVH to Vitol and Helios in 2019, and the company's investment decisions are based on commercial viability and national interest.

Atiku also raised concerns about the Lagos-Calabar Coastal Highway project, which has been taken to court due to allegations of a close relationship between Tinubu's son, Seyi, and Gilbert Chagoury, who was awarded the contract without competitive bidding. This, Atiku argues, indicates a conflict of interest and raises questions about the project's legitimacy.

Nigeria is currently facing significant economic struggles, with the country's per capita income hitting a 20-year low. Atiku has called on President Tinubu's administration to adopt alternative strategies to address these challenges. However, the president's handling of the economy has been criticized, with some arguing that his business interests are prioritized over the nation's.

In addition to economic struggles, Nigeria is also grappling with worsening insecurity, with kidnappings and killings becoming increasingly common. Atiku has knocked President Tinubu over his handling of the situation, stating that the country needs 24/7 leadership to confront the pervasive insecurity.

NNPC has defended its actions, citing its commitment to national interest and value creation for all stakeholders. The company has also highlighted its financial performance, reporting a N3.3 trillion profit after tax in 2023.

Overall, the controversy surrounding President Tinubu's administration and its handling of Nigeria's economy and security continues to escalate. Atiku's accusations have sparked heated debate, with many Nigerians calling for greater transparency and accountability from their leaders.