Ibikunle Amosun has refuted Pat Utomi's $200 million loss claim, stating that Utomi's investment was no more than N50 million and that the contract cancellation was due to improper land acquisition. Amosun also offered N100 million in compensation, which Utomi allegedly rejected.
Former Ogun State Governor Ibikunle Amosun has dismissed allegations from economist Pat Utomi, who claimed he suffered a $200 million loss due to the cancellation of a contract. Amosun has called these claims misleading and inaccurate.
Utomi recently posted on social media about significant financial setbacks resulting from Amosun’s termination of a contract linked to Ogun State land. Amosun responded by stating that a review showed Utomi’s actual investment was no more than N50 million, rather than the $200 million claimed. He explained that the contract was nullified because the land in question was improperly acquired.
Amosun offered Utomi N100 million as compensation, which he claimed was more than the actual value of the investment. Utomi reportedly declined the offer and attempted to influence the situation through an award from his Centre for Value in Leadership (CVL).
This dispute comes amid a larger controversy involving the seizure of Nigerian presidential jets in Europe, related to a contractual issue with the Chinese firm Zhongshan Fucheng Industrial Investment Co Limited. This broader context has added layers of complexity to the tensions surrounding Amosun’s tenure and its aftermath.
