PRESIDENT Bola Ahmed Tinubu has conferred the Grand Commander of the Order of the Niger (GCON) on his longtime associate and businessman, Gilbert Chagoury, citing his contributions to Nigeria’s development.
According to a letter sighted today, the president said the national honour — Nigeria’s second highest — was awarded in recognition of Chagoury’s outstanding service and impact across key sectors of the economy.
Tinubu stated that the award was made pursuant to the powers vested in him under the National Honours Act.
Reacting to the development, billionaire investor Femi Otedola described the honour as well deserved, praising Chagoury’s legacy in business and national development.
In a message shared publicly, Otedola said Chagoury’s life and career reflected vision, discipline and consistent excellence.
He highlighted Chagoury’s role in landmark projects such as Banana Island and Eko Atlantic City, noting that the developments have created thousands of jobs and significantly shaped Nigeria’s urban landscape.
Otedola added that Chagoury’s leadership has inspired many Nigerians to pursue ambitious ideas and long-term impact.
Chagoury, a Lebanese-Nigerian born in Lagos to immigrant parents, co-founded the Chagoury Group in 1971 with his younger brother, Ronald.
The conglomerate has diversified interests spanning construction, real estate, manufacturing, hospitality, telecommunications, insurance, IT, catering and international financing.
However, the honour comes amid lingering public scrutiny over the relationship between President Tinubu and the Chagoury family.
In 2024, controversy followed the award of the $11 billion Lagos–Calabar Coastal Highway project to Hitech, a Chagoury-owned firm, due to concerns over the absence of open bidding and the long-standing association between both parties.
Reports have also indicated that President Tinubu’s son, Seyi Tinubu, serves on the board of one of the Chagoury companies and is a joint shareholder with Gilbert Chagoury’s son, Ronald Chagoury Jr., in a British Virgin Islands-registered entity.
Despite the controversy, supporters of the award maintain that Chagoury’s decades-long contributions to infrastructure development and economic growth justify the national recognition.