For decades, the skyline of Lagos has been a testament to the symbiotic relationship between Nigeria’s political elite and the Chagoury Group. From the sands of Eko Atlantic to the luxury of the Eko Hotel, the Lebanese-Nigerian dynasty has long been the builder of choice for the “City of Excellence.“ However, under the presidency of Bola Ahmed Tinubu, this partnership has evolved from a local preference into a cornerstone of national economic policy – raising profound questions about transparency, competition, and the concentration of sovereign risk.
A Portfolio of Unprecedented Scale
In the space of just two years, the Tinubu administration has funneled some of Nigeria’s most ambitious and expensive infrastructure projects toward subsidiaries of the Chagoury Group, primarily Hitech Construction and ITB Nigeria. The sheer scale of these awards is breathtaking, even by the standards of Africa’s largest economy:
Project
- Lagos-Calabar Coastal Highway: $11bn – $13bn
Key Details: 700km road intended to link the commercial hub to the Niger Delta. - Port Refurbishments (Apapa & Tin Can):N1.1tn ($1bn) Key Details: Major upgrades to Nigeria’s primary maritime gateways.
- Snake Island Port Terminal:$1bn (45-year concession) Key Details:Development of a new shipping terminal to decongest Lagos.
- Sokoto-Badagry Superhighway:N1tn+ Key Details: A trans-continental link currently under federal expansion plans.
The “Restrictive Bidding“ Conundrum
The primary point of friction for international observers and domestic critics alike is the absence of open competitive bidding. The Minister of Works, Dave Umahi, has defended the use of “restrictive bidding,“ arguing that the Chagoury Group’s Hitech possesses a unique “concrete pavement technology“ and the financial muscle to execute “EPC+F” (Engineering, Procurement, Construction, and Finance) models.
To the ToriPost reader, this justification rings with a familiar – and concerning – corporatist tone. While the government argues that speed and proven capacity justify the bypass of traditional tenders, the lack of transparency risks:
- Price Inflation: Without a benchmark from competitors, the true market value of these projects remains obscured.
- Institutional Decay: Bypassing the Bureau of Public Procurement (BPP) sets a precedent that undermines the very reformist image Mr. Tinubu seeks to project to the IMF and World Bank.
- Reputational Risk: Gilbert Chagoury’s past—including a 2000 conviction for money laundering related to the Sani Abacha era – remains a sticking point for Western investors who are being asked to co-invest in a “New Nigeria.”
“It is curious that the terms of such an audacious project continue to be shrouded in secrecy. It is no secret that both Tinubu and Chagoury are business partners.“ – Atiku Abubakar, Former Vice President of Nigeria
The Economic Gamble: Efficiency vs. Equity
The Tinubu administration’s logic is pragmatic, if not populist: Nigeria’s infrastructure gap is a $3 trillion void that state coffers cannot fill. By partnering with a group that has deep roots in the country and a vested interest in the success of “Lagos Inc.,“ the President believes he can deliver legacy projects faster than through the sluggish, bureaucracy-laden channels of international tenders.
The recent conferment of the Grand Commander of the Order of the Niger (GCON) – Nigeria’s second-highest honor – upon Gilbert Chagoury in early 2026 underscores this “all-in“ bet.
However, as the naira continues to navigate a volatile flotation and inflation haunts the middle class, the optics of an $11 billion highway being awarded to a presidential ally are fraught. If these projects fail to deliver the promised economic “stimulation,“ the political cost will be as high as the construction bill.
Conclusion
President Tinubu is not just building roads; he is building a patronage-led developmental model. If the Chagoury Group delivers, the coastal highway could become the spine of a revived Southern economy. If it falters, or if the costs continue to spiral in the dark, it will be remembered as the moment when “Nigeria Limited“ became a family-and-friends affair.