Tinubu Ally Firm to Execute N1.4tn Lagos Ports Upgrade Amid Criticism

Indications have emerged that a construction firm linked to an ally of President Bola Ahmed Tinubu will handle the N1.4 trillion upgrade of key port infrastructure in Lagos, following a financing deal backed by the United Kingdom.
The project, which targets the modernisation of the Apapa and Tin Can Island port complexes, is expected to be executed by ITB Nigeria, a company owned by Lebanese-Nigerian businessman Gilbert Chagoury, a longtime associate of the president.

The development follows the recent £746 million export finance agreement between Nigeria and the UK, with the UK Export Finance (UKEF) guaranteeing loans for the project.

The Minister of Marine and Blue Economy, Gboyega Oyetola, had earlier disclosed that the Federal Government approved about $1 billion (approximately N1.4 trillion) for the port modernisation initiative.

Findings also indicate that the Chagoury Group, through its subsidiary ITB Nigeria, had been selected for the project following a Federal Executive Council decision in 2025.

However, the move has sparked criticism among maritime stakeholders and regional advocates, who argue that the government’s continued focus on Lagos ports reinforces infrastructural imbalance across the country.

The Sea Empowerment and Research Centre (SEREC) warned that the concentration of investments in Lagos could worsen congestion and inefficiencies, noting that other ports such as those in Warri, Port Harcourt, and Calabar remain underutilised due to neglect.

According to the centre, “Nigeria’s maritime system remains heavily concentrated in Lagos,” a situation it said has led to “persistent congestion and logistics inefficiencies.”

Maritime experts also questioned the rationale behind borrowing for port upgrades, arguing that revenues generated from existing port operations should be sufficient for such projects.

Critics further warned that prioritising Lagos alone could undermine broader economic goals, urging the government to adopt a more balanced approach to port development nationwide.

Despite the concerns, the Federal Government maintains that the upgrade of Lagos ports is critical to improving trade efficiency, boosting cargo capacity, and strengthening Nigeria’s position as a regional maritime hub.