Tinubu's Ally to Manage ₦1.4 Trillion Lagos Port Project
Gilbert Chagouri, a Lebanese-Nigerian businessman and long-time associate of President Bola Ahmed Tinubu, will oversee the renovation project at Lagos' Apapa Port, valued at ₦1.4 trillion. This development follows a meeting in the United Kingdom where President Tinubu secured a £746 million export finance deal to support the refurbishment of two major ports in Lagos.
Chagouri's company, ITB Nigeria, is part of the delegation involved in this financial agreement. The UK Export Finance (UKEF) will guarantee the loan for the upgrade of the Apapa and Tin Can Island port complex.
In January 2025, Chagouri was awarded Nigeria's second-highest honor for his contributions to the country. The Federal Executive Council approved a ₦1 billion contract for the Chagouri Group's subsidiary, ITB Nigeria, on October 22, 2025.
Chagouri co-founded the Chagouri Group in Lagos in 1971, which has interests in construction, real estate, hospitality, and infrastructure.
Plus234Feed summary based on reporting from Naijanews. Read the original report below.
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