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Huhuonline.com can authoritatively report that, in an audacious display of corruption and political cronyism, President Bola Tinubu has handed the highly lucrative Lagos ports renovation contract to ITB Nigeria, a company owned by his close associate and longtime benefactor, Gilbert Chagoury....CONTINUE READING THE ARTICLE FROM THE SOURCE>>>
Aso Rock sources who elected anonymity, confirmed to Huhuonline.com that the decision, which stinks of backroom dealings and brazen disregard for due process, was brokered at the highest levels of international politics, by none other than French President Emmanuel Macron himself.
Civil society groups, opposition figures, and economic experts are already calling for an immediate investigation into this corrupt deal. Many are demanding that the National Assembly launch a full-scale probe into the contract’s award, with some voices calling for its outright cancellation.
One of the most damning aspects of this scandal, according to a source at the Nigerian Ports Authority, (NPA) “is the complete absence of transparency in awarding the contract. The entire process was shrouded in secrecy, with no competitive bidding process, no public accountability, and no justification for why globally recognized shipping experts were passed over in favor of a politically connected crony.”
While shipping majors like CMA CGM, Maersk, and MSC have built decades-long reputations in logistics and ports management, the Chagoury Group’s selection raises glaring questions about Nigeria’s commitment to due process. “How can a government that claims to be fighting corruption so openly engage in such blatant favoritism,” the NPA source queried?
This shocking revelation has sent ripples through the global shipping industry and drawn outrage from transparency advocates, who accuse Tinubu of engaging in a shameless quid pro quo, that sacrifices Nigeria’s economic interests for personal enrichment.
The move has sidelined major global shipping players – CMA CGM (France), Maersk (Denmark), and MSC (Switzerland/Italy) – all of whom had been locked in fierce competition to win the contract to modernize Nigeria’s key trade gateways. Adding further insult, two Emirati logistics giants, DP World and Abu Dhabi Ports, who had shown keen interest in modernizing Lagos ports, were also shut out of the process.
In what can only be described as an unprecedented intervention, French President Macron is alleged to have personally lobbied for Chagoury, effectively arm-twisting Tinubu into awarding the contract to his scandal-ridden ally.
Macron and Chagoury were seen sitting side by side during a high-profile meeting with Tinubu at the Élysée Palace in Paris on November 28, 2024 – a meeting now being viewed as the setting for one of the most egregious acts of political interference in Nigeria’s economic affairs.
The NPA source argued that Chagoury’s murky history, including a money-laundering conviction on behalf of the late brutal military dictator Sani Abacha, should have disqualified him from such a monumental project. Instead, his ties to Tinubu have guaranteed him an unchecked seat at Nigeria’s economic table.
Another Aso Rock source told Huhuonline.com that the involvement of the French president raises alarming questions about foreign manipulation in Nigeria’s infrastructure development. “Why is the president of France meddling in Nigeria’s port affairs? What backdoor deals have been struck between Macron, Tinubu, and Chagoury? At what cost to Nigeria’s sovereignty and economic future,” he asked?
A Deal Sullied by Nepotism
Industry watchers told Huhuonline.com that the Lagos ports, including Apapa and Tin Can Island, are among West Africa’s most strategic maritime hubs, handling billions of dollars in trade annually. With Nigeria’s economic growth heavily dependent on import-export activities, global maritime giants such as CMA CGM, Maersk, and MSC had been vying for the contract to modernize these critical gateways.
Yet, instead of awarding the contract to an experienced international operator with a proven track record, Tinubu chose a politically connected conman with questionable expertise in global shipping operations.
Chagoury’s firm, the Chagoury Group, is notorious not for maritime prowess but for leveraging deep political ties to secure government contracts. Unlike the rejected European and Emirati giants, who boast world-class shipping infrastructure and logistics networks, the Chagoury Group is little more than a conduit for political patronage, lacking the technical capabilities and global operational experience required for such a high-stakes project.
CMA CGM (France) is a leading global shipping company with a presence in over 160 countries. It operates terminals and logistics services worldwide, aiming to expand its footprint in Lagos ports to strengthen its West African operations.
Maersk (Denmark) is the world’s largest container shipping company, with a vast network of terminals, logistics, and port infrastructure. It has significant investments in Africa, including operations at Lagos ports. MSC (Switzerland/Italy) is a key global player in container shipping and port operations, competing aggressively for market dominance in Nigeria. It operates ports and logistics networks worldwide.
Unlike these global giants, the Chagoury Group is a politically connected conglomerate with a stronghold in Nigeria’s construction and infrastructure sectors. It lacks global shipping expertise but leverages government influence to secure major port and infrastructure contracts, often bypassing international competition.
While CMA CGM, Maersk, and MSC have extensive experience in port operations and shipping logistics, the Chagoury Group’s influence stems from deep political ties rather than maritime industry dominance. The awarding of the Lagos port renovation contract to the Chagoury Group over these established shipping giants raises concerns about favoritism and the sidelining of global best practices in port management.
Tinubu and Chagoury’s unholy alliance
Gilbert Chagoury is no stranger to controversy. A billionaire of Nigerian-Lebanese descent, he was convicted in Switzerland for laundering money on behalf of Nigeria’s infamous dictator, Sani Abacha. His shady dealings and long history of securing government contracts through political connections have made him a fixture in Nigeria’s corruption-ridden elite.
Tinubu’s relationship with Chagoury is far from incidental. The ties between the two men go beyond business – they are bound by a web of financial and mercantilist interests that have now culminated in this latest scandal. To make matters worse, Tinubu’s son, Seyi Tinubu, was recently appointed as a director of CDK Integrated Industries, a subsidiary of the Chagoury Group, further entrenching the Tinubu family’s vested interests in Chagoury’s empire.
Seyi Tinubu’s Dirty Hands
If this corruption was not audacious enough, the deeper scandal is the undeniable link between the president’s son, Seyi Tinubu, and the Chagoury business empire. Leaked documents reveal that Seyi co-owned an offshore company in the British Virgin Islands with Ronald Chagoury Jr., a move that reeks of financial impropriety. The younger Tinubu, who was recently appointed director of CDK Integrated Industries – a subsidiary of the Chagoury Group – now stands at the crossroads of power and illicit wealth accumulation. His appointment is no coincidence; it is a calculated move designed to consolidate power and wealth within a tight-knit syndicate of political puppeteers and profiteers.
The $13 Billion Highway to Nowhere
The Lagos ports renovation scandal is not isolated. It is part of a disturbing pattern. The awarding of the $13 billion Lagos-Calabar Coastal Highway project to Hitech Construction Ltd, another Chagoury Group subsidiary, was conducted in absolute secrecy, without a public bidding process. A project of such magnitude, critical to Nigeria’s economic expansion, was handed over like a family heirloom.
The lack of competitive transparency raises serious questions: was this a deal to serve Nigeria or another goldmine for the Tinubu-Chagoury empire? David Umahi, the Minister of Works, has feebly attempted to defend the process, claiming it followed due procedure. But critics are quick to point out that due procedure does not include hidden offshore companies, political favoritism, and nepotism masquerading as transparency and governance.
Even as the backlash mounts, Tinubu continues to deflect, offering hollow platitudes about progress and development. The president himself, in an act of stunning audacity, stood before Nigerians and lavished praise upon the Chagoury brothers, calling them “worthy stakeholders” in the Nigerian project…CONTINUE READING>>>
