In the ongoing debate surrounding the Lagos-Calabar Coastal Highway, Bayo Onanuga, the Special Adviser to the President on Information & Strategy, has taken issue with former Vice President Atiku Abubakar, alleging that he is distorting facts for his own political advantage.
Onanuga contends that Atiku has been inaccurately portraying various issues to serve his personal interests of undermining the current administration.
It is crucial to address the misinformation propagated by Atiku to prevent the public from being misled by false claims presented as truths.
The administration led by President Bola Tinubu emphasizes the importance of all Nigerians, irrespective of political affiliations, working towards national unity and economic prosperity, rather than discrediting genuine efforts by the government to attract investments, both local and foreign.
Contrary to Atiku’s assertions, the Tinubu administration has successfully facilitated over $20 billion in investments within its first year. During President Tinubu’s attendance at the G20 Summit in New Delhi, Indian business leaders pledged over $14 billion in new investments, a substantial portion of which has already materialized.
In a clear show of confidence in the economic reforms implemented by the Tinubu administration, foreign investment in Nigeria’s stock market surged from N18.12 billion in Q1 2023 to N93.37 billion in Q1 2024, marking a 415% increase. This level of investment had not been witnessed since Q1 2019, when N97.6 billion was recorded.
President Tinubu’s recent visit to The Netherlands also resulted in an announcement by Prime Minister Mark Rutte of an additional $250 million investment commitment from Dutch businesses in Nigeria.
Diverse sectors such as telecoms, manufacturing, solid minerals, oil and gas, e-commerce, and fintech are experiencing a rise in Foreign Direct Investments from savvy investors recognizing Nigeria as a lucrative market.
It is puzzling that Atiku would accuse President Tinubu of a conflict of interest in the awarding of the Lagos-Calabar Coastal Highway contract to Hitech Construction Company, allegedly affiliated with the Chagoury family due to Seyi Tinubu, the President’s son, serving on the board of CDK, a tiles manufacturing company based in Sagamu, Ogun State.