Categories: Latest News

Did Tinubu build Eko Atlantic City ?

Eko Atlantic is a private project fully initiated and funded by the Chagoury family through their companies.
The project was neither initiated nor built by Bola Tinubu.

While Tinubu was Governor of Lagos State from 1999 to 2007, Eko Atlantic project was commenced in 2009 by South Energyx Nigeria Limited, a member of the Chagoury Group of Companies.

The Lagos State Government, whether during or after Tinubu did NOT and is NOT funding the project. Not even by a kobo. Rather the Chagoury Group paid various amounts to the LASG and FG for approvals to construct the project.

The main motivation was to protect their investment, Eko Hotel and Towers from the receding shoreline which was then threatening to consume the multi-billion naira hotel and other investments of the Group along that shoreline.

Lagos State Government wasn’t forthcoming with any solutions, so Chagoury undertook it as a private project and literally own all the land they created there.

The story is similar for the Lekki Port and Free Trade Zone which is a private project of the Vaswani family.
These are projects for which Tinubu and Lagos State Government have tried to claim much credit as legacy projects.

Lagos will always attract projects as a former Colony, capital (for several decades), the consequent large population and its peculiar shoreline location along the Atlantic.

Every fact put out above is verifiable.

Ameh Jazzia-Becky

Recent Posts

Wike under fire over car, house gifts to judges

Renowned human rights lawyer, Femi Falana, SAN, has criticized Minister of the Federal Capital Territory…

2 hours ago

Another popular Living Faith Church pastor retires

The Living Faith Church Worldwide, also known as Winners Chapel, is set to witness the…

4 hours ago

Ibadan: Court remands four suspects over alleged armed robbery, murder

An Iyaganku Magistrates’ Court in Ibadan has remanded four individuals in a correctional facility over…

4 hours ago

Ademola Lookman nominated for 2024 Globe Soccer Awards

Atalanta winger Ademola Lookman has been nominated for the prestigious 2024 Globe Soccer Awards. The…

5 hours ago

Military Games: Olamide appointed as brand ambassador for AMGA 2024

The Local Organizing Committee (LOC) for the Africa Military Games, Abuja 2024 (AMGA 2024), has…

7 hours ago

Salah confident Liverpool can clinch Premier League title this season

Liverpool star Mohamed Salah has expressed optimism about the Reds' chances of winning this season's…

7 hours ago