The federal government has awarded the Lagos ports renovation contract to Chagoury Group, led by Gilbert Chagoury. The $1.1 billion project, approved by the Federal Executive Council, aims to modernize Tin Can and Apapa ports. The Nigerian Ports Authority is expected to announce further details soon.
According to TheCable, the federal government has approved a contract for the renovation of Lagos’ major ports—Tin Can and Apapa—awarding it to Chagoury Group, a multinational conglomerate owned by Lebanese-Nigerian billionaire Gilbert Chagoury.
Government insiders revealed that the Federal Executive Council (FEC) greenlit the project in February, following due process. While an official announcement from the Nigerian Ports Authority (NPA) is yet to be made, sources confirm that the contract has been allocated to Hitech Construction and ITB Nigeria, both subsidiaries of Chagoury Group.
The NPA had previously outlined a $1.1 billion investment plan for port rehabilitation across the country, with $700 million already secured through a facility agreement with Citi Bank Nigeria, backed by UK Export Finance (UKEF). The project aims to enhance port efficiency and trade capacity, a crucial step toward boosting Nigeria’s economy.
Chagoury Group, known for its extensive construction portfolio, has handled several high-profile infrastructure projects in Lagos, including the Lekki-Epe expressway and the Ajah flyover. The company is also leading the Lagos-Calabar coastal highway project under a public-private partnership model.
The contract has sparked political debate, with former Vice President Atiku Abubakar previously questioning the transparency of government-awarded projects linked to Chagoury Group. However, the presidency dismissed concerns, emphasizing that all procedures followed legal protocols.
As Nigeria pushes forward with port modernization, the government is expected to outline further details on execution timelines and funding strategies in the coming weeks.
