President Bola Tinubu has awarded the Grand Commander of the Order of the Niger (GCON) to Gilbert Chagoury, a close associate of many years.
In a letter, Tinubu said the national honour was bestowed in recognition of Chagoury’s contributions to Nigeria’s development.
“In exercise of the powers vested in me under section 1(4) of the National Honours Act, 1, BOLA AHMED TINUBU, President of the Federal Republic of Nigeria, in recognition of your outstanding virtues and in appreciation of your services to our country, Nigeria,” Daily Trust quoted the letter as saying.
“Nigeria, HEREBY award to you to have, and enjoy title, dignity and all the privileges of Grand Commander of the Order of the Niger (GCON) GIVEN at Abuja under my Hand and the Public Seal of the Federal Republic of Nigeria.”
Reacting, Femi Otedola, billionaire businessman, described the honour as merited and praised Chagoury’s influence in business and national development.
“Your life is a masterclass in vision, discipline, and steady excellence,” Otedola wrote.
He said Chagoury’s involvement in major real estate and infrastructure projects had generated employment and reshaped Nigeria’s urban environment.
“From Banana Island to Eko Atlantic City, your work speaks in landmarks, jobs, and lasting impact, and your leadership has inspired generations of Nigerians to think bigger and act bolder,” he added.
Otedola concluded by commending Chagoury’s record and restating his admiration.
Chagoury is a Lebanese-Nigerian businessman born in Lagos to Lebanese immigrant parents.
In 1971, he co-founded the Chagoury Group with his younger brother, Ronald Chagoury, building an industrial conglomerate with interests spanning construction, real estate, manufacturing, insurance, hospitality, telecommunications, IT, catering and international finance.
The award comes against the backdrop of controversy that followed the 2024 allocation of the $11 billion Lagos-Calabar Coastal Highway project to Hitech, a Chagoury-owned firm, amid concerns over the absence of competitive bidding and Tinubu’s longstanding relationship with Chagoury.
Subsequent reports also indicated that Seyi Tinubu, the president’s son, sits on the board of one of Chagoury’s companies and is a joint shareholder with Ronald Chagoury Jr in a British Virgin Islands entity.