Home » Nigerian-Lebanese billionaire linked to Sani Abacha gets approval to construct superhighway

Nigerian-Lebanese billionaire linked to Sani Abacha gets approval to construct superhighway

Lagos-Calabar coastal highway enters public-private partnership for swift development

by Omokolade Ajayi
Gilbert Chagoury

Hitech Road Construction Company, a subsidiary of Hitech Construction Company, a construction conglomerate owned by Gilbert Chagoury, a Nigerian-Lebanese billionaire linked to the country’s former head of state, Sani Abacha, has approval from the Federal Executive Council (FEC) to build the Lagos-Port Harcourt-Calabar Coastal Superhighway.

The decision, made during a recent FEC meeting presided over by Nigeria President Bola Tinubu, follows the announcement by Minister of Works David Umahi five months ago regarding the award of the construction contract to Hitech Road Construction Company.

Bayo Onanuga, the president’s special advisor on information and strategy, revealed in his latest announcement that the initial phase of the superhighway, covering 47 kilometers, is scheduled to commence in Lagos State. Onanuga stated, “FEC approved construction of Lagos-Port Harcourt-Calabar Coastal Superhighway to Messrs Hitech Construction Africa. The First phase made up of 47 km will begin in Lagos.”

Lagos-Calabar coastal highway enters public-private partnership for swift development

The Lagos-Calabar Coastal Highway project is set to be executed as a Public Private Partnership (PPP), with tolls expected upon completion. Hitech Construction Company has already secured the necessary funding for the ambitious infrastructure project. One of the primary goals of the highway is to stimulate tourism and economic growth, incorporating the development of industrial clusters, hotels, factories, housing estates, and various amenities along the route.

The initiative aligns with Tinubu’s vision for increased connectivity and economic development nationwide. The proposed route is positioned as a crucial link between major infrastructure projects, including the Lagos-Badagry Expressway superhighway, the Fourth Mainland Bridge, Lekki Deep Sea Port Road, and will connect various points in northern Nigeria via Ogoja-Ikom, promising to strengthen trade and transportation links across the country.

Chagoury’s redemption: From controversy to contribution in Nigeria

Hitech Construction Company, a division of the Chagoury Group, founded by Chagoury and his younger brother Ronald in 1988, is recognized as one of Nigeria’s leading civil engineering firms. Their expertise extends to providing sustainable solutions to combat coastal erosion in the West African region. The company has a commendable track record of successfully executing projects aimed at safeguarding endangered shoreline sections by preventing the Atlantic Ocean’s encroachment.

Chagoury‘s journey to success began with the establishment of the Chagoury Group at the age of 25, alongside his younger brother Ronald Chagoury. Despite their business acumen driving growth and expansion, Chagoury’s success has not been without controversy. His association with the late Sani Abacha, a Nigerian military head of state, faced scrutiny. Abacha’s support contributed to the growth of Chagoury’s businesses in the country.

Following Abacha’s death in 1998, Chagoury returned an estimated $300 million to the Nigerian government to safeguard himself from potential criminal charges. This move allowed him to continue contributing to Nigeria’s development, notably initiating the Eko Atlantic City in 2008 through South Energyx Nigeria, a subsidiary of his Nigeria-based conglomerate, as a real estate project featuring residential and commercial properties on Victoria Island in Lagos.

You may also like


The world’s premier source of news on Africa’s billionaires and UHNWIs.


Get the daily email to stay informed about African billionaires and UHNWIs. Get informed and entertained, for free.

Latest News

@2024 – Billionaires.Africa. All Rights Reserved.