Fresh controversy has trailed the ongoing Lagos Port renovation project after an engineer, Obi Njoku, raised concerns over transparency, potential conflict of interest, and the growing debt burden tied to the deal.
In a statement issued on March 31, Njoku questioned the ₦1.4 trillion (about $700 million) project, warning that its financing structure—reportedly backed by borrowing—could further strain Nigeria’s fiscal position at a time of economic pressure.
He expressed concern over the award of the contract to the Chagoury Group, citing the company’s long-standing relationship with President Bola Ahmed Tinubu. He also pointed to the reported involvement of the President’s son, Seyi Tinubu, in a company linked to the group, raising questions about possible conflicts of interest.
Njoku argued that the situation underscores the need for stricter adherence to transparency and accountability in public procurement, particularly for large-scale infrastructure projects funded with public debt.
Beyond governance concerns, he criticised what he described as the uneven distribution of infrastructure investments, noting that while significant resources are being committed to Lagos, other strategic maritime hubs across the country remain underdeveloped.
According to him, ports and corridors in regions such as the South-South and South-East require urgent attention to ensure a more balanced and efficient national logistics network.
He also called for clarity on whether the Lagos Port contract followed an open and competitive bidding process, stressing that due process is essential to maintaining public trust and investor confidence.
The engineer further urged the government to provide detailed disclosures on the project’s cost structure, funding model, and expected economic returns, particularly in light of Nigeria’s rising debt obligations.
Njoku called for an independent review of the contract and related agreements, emphasizing that transparency in infrastructure deals is critical to safeguarding public resources and ensuring equitable development.
As of press time, there has been no official response from the Presidency or the companies mentioned in relation to the concerns raised.
Lagos Port Deal Sparks Fresh Controversy as Engineer Questions Transparency, Debt Burden
