Nigeria is once again being auctioned off to corrupt political cronies in a sickening spectacle of nepotism and brazen display of corruption, unbridled looting, and outright theft. In an audacious betrayal of public trust, President Bola Tinubu recently handed the highly lucrative multi-billion-dollar Lagos ports renovation contract to ITB Nigeria, a company owned by his longtime associate and financial godfather, Gilbert Chagoury. This deal is not just another case of government malfeasance; it is the most egregious display of crony capitalism and economic sabotage in Nigeria’s recent history. Even worse, this act of brazen corruption was orchestrated with the insidious involvement of French President Emmanuel Macron, who personally brokered the shady agreement behind closed doors. The Chagoury Group has no expertise in port management and global shipping operations, yet it has been handed a project that could determine Nigeria’s trade future for generations. This is not just misgovernance; it is state-sanctioned looting with presidential blessing at an industrial scale. This is daylight robbery disguised as governance, and Nigerians must not stay silent.
Tinubu has once again proven that his administration is nothing more than a cartel for self-enrichment. Aso Rock sources have confirmed that Tinubu’s decision to sideline major global port management and shipping powerhouses – CMA CGM, Maersk, MSC, and even Emirati giants DP World and Abu Dhabi Ports – was dictated not by national interest, but by his unholy allegiance to Chagoury, a convicted money launderer and notorious oligarch who has leeched off Nigeria’s wealth for decades. The graft and grifting reeks to the high heaven. There was no competitive bidding process, no transparency, and no justification for why global shipping giants were bypassed in favor of a politically connected crony and benefactor. The Lagos ports, which serve as West Africa’s economic gateway, should be managed by established global players with decades of experience and expertise in port operations and global logistics. Instead, Tinubu has gifted this monumental project to Chagoury’s company, which has no proven track record in modern port management. This reckless decision will cost Nigeria billions in lost revenue, inefficiencies, and systemic corruption.
Nigeria’s economic gateway, the Lagos ports, which handle billions of dollars in trade annually, has been reduced to a personal cash cow for the Tinubu-Chagoury syndicate. This is nothing short of a national disgrace. Even more damning is the fact that this deal was allegedly brokered by French President Macron, raising serious concerns about foreign interference in Nigeria’s economic affairs. That a foreign leader, Macron, was directly involved in this economic coup is deeply alarming and should enrage every Nigerian. Macron and Chagoury were spotted sitting side by side during a high-profile meeting with Tinubu in Paris on November 28, 2024 – a meeting now seen as the backroom deal that sold out Nigeria’s maritime future. What business does the president of France have in lobbying for a convicted money launderer to secure a Nigerian infrastructure project? What other underhanded deals were made in Paris? Macron’s backing of Chagoury is not about development or investment; Macron’s shameless meddling reeks of neocolonial economic exploitation, with Tinubu acting as a willing puppet to foreign interests rather than safeguarding Nigeria’s sovereignty. Tinubu’s disgraceful submission to Macron’s interference is an act of treachery. It proves beyond doubt that this president does not serve the interests of Nigerians but those of foreign powers and local kleptocrats. This is not governance; this is outright pillaging, conducted with the reckless arrogance of men who believe they are above the law.
The choice of Gilbert Chagoury is nothing short of an insult to Nigerians. This is a man who was convicted in Switzerland for laundering money on behalf of Nigeria’s most notorious dictator, Sani Abacha. His name is synonymous with corruption, bribery, and the destruction of national institutions for personal profit. How can a known economic saboteur be entrusted with Nigeria’s most critical infrastructure? The Chagoury Group has no expertise in global shipping operations, yet it has been handed a project that could determine Nigeria’s trade future for generations. The rot runs deep. Not only has Tinubu handed Chagoury this massive contract, but his own son, Seyi Tinubu, has been planted deep within the Chagoury business empire. Seyi was recently appointed director of CDK Integrated Industries, a Chagoury Group subsidiary, in a move that further entrenches the Tinubu family’s grip on Nigeria’s economy. Leaked documents show that Seyi co-owns an offshore company in the British Virgin Islands with Ronald Chagoury Jr., highlighting the deeply entrenched kleptocratic network operating at the highest levels of the Nigerian government.
It is now painfully clear that this deal is not about Nigeria – it is about consolidating the Tinubu family’s grip on illicit wealth. This disgraceful port deal is not an isolated incident; it is part of a much larger conspiracy to bleed Nigeria dry, and follows a well-worn pattern. The award of the $13 billion Lagos-Calabar Coastal Highway project to another Chagoury-owned entity, Hitech Construction Ltd, was done with the same level of secrecy and corruption. No public bidding. No oversight. Just another multi-billion-dollar jackpot for the Tinubu-Chagoury cartel. This massive infrastructure project, critical to Nigeria’s economic growth, was handed out like a family inheritance. This port deal, and the $13 billion Lagos-Calabar highway project is not development. This is not progress. This is a full-scale economic hijacking, orchestrated by a cabal of crooks who have no regard for due process, accountability, or the Nigerian people. The so-called “due process” touted by Works Minister David Umahi is a farce. No amount of feeble justifications can mask the stench of corruption permeating this administration.
The time for silence is over and this is a call to arms for all Nigerians. This is not just another scandal – it is the wholesale auctioning of Nigeria’s future to political and foreign profiteers. The National Assembly must launch an immediate probe into this corrupt deal, and civil society groups must take to the streets to demand its cancellation. Nigerians must refuse to be spectators in their own robbery. International transparency organizations should apply pressure on both the Tinubu administration and the French government to explain their roles in this brazen economic sabotage. Nigeria cannot afford to remain silent while its wealth is looted under the guise of “development.”
President Tinubu has made his priorities abundantly clear: his administration is not about governance but grand theft to enrich himself, his family, and his cronies at the expense of the Nigerian people.
If this deal is allowed to stand, it will set a dangerous precedent that institutionalizes corruption, rewards cronyism at the highest levels of power, and condemns the nation to perpetual economic subjugation. Enough is enough. The Lagos ports belong to Nigerians, not to Tinubu, not to Chagoury, and certainly not to a meddling French president with neo-colonial ambitions. The time to act is now. Nigeria must reclaim its dignity, sovereignty, and economic future from the hands of these shameless profiteers. This corruption must not stand!
