The Economist published a report examining a $20 billion infrastructure portfolio overseen by firms linked to Lebanese-Nigerian billionaire Gilbert Chagoury, a long-time associate of Nigerian President Bola Tinubu. The report highlights transparency, procurement, ownership, and tax concession concerns, prompting public scrutiny and political responses in Nigeria.
A $20 billion infrastructure portfolio is heavily concentrated around businesses controlled by people .
Residents and observers face difficulties obtaining clear details regarding the exact economic and environmental impacts of the projects.
Questions focus on whether major contracts—such as high-profile coastal highway developments—underwent competitive public bidding, alongside scrutiny over tax and financial arrangements.
