Tinubu Ally Gilbert Chagoury to Lead N1.4 Trn Lagos Ports Renovation

ITB Nigeria, owned by Lebanese-Nigerian businessman and Tinubu confidant Gilbert Chagoury, will oversee the N1.4 trillion overhaul of Lagos’s Tin Can and Apapa ports. The contract was approved by the Federal Executive Council and backed by a £746 million UK export finance agreement secured during President Tinubu’s visit to London. Federal figures confirm $1 billion funding for modernisation works, including dredging and structural upgrades, while Chagoury’s conglomerate also handles major projects such as the Lagos-Calabar Coastal Road and Eko Atlantic City. His group has built a reputation in infrastructure but faces scrutiny over environmental and social impacts. Stakeholders warn the focus on Lagos deepens regional imbalances. Maritime operators and advocacy groups call for better investment in ports across the Niger Delta, South-East and northern corridors to ease congestion and promote inclusive growth. The African Democratic Congress demands full transparency on loan terms, local content and job creation targets.

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