President Bola Ahmed Tinubu has conferred the Grand Commander of the Order of the Niger (GCON) on Lebanese-Nigerian businessman and industrialist, Gilbert Chagoury, in recognition of his contributions to Nigeria’s economic development.
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The award, Nigeria’s second-highest national honour after the Grand Commander of the Order of the Federal Republic (GCFR), was conveyed through an Instrument of Conferment dated January 8, 2026.
In the letter sighted Tinubu said the honour was bestowed in the exercise of powers vested in him under Section 1(4) of the National Honours Act, citing Chagoury’s “outstanding virtues” and services to the country.
“In exercise of the powers vested in me under Section 1(4) of the National Honours Act, I, 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, hereby award to you the title, dignity and all the privileges of Grand Commander of the Order of the Niger (GCON),” the letter read.
Reacting to the honour, billionaire businessman Femi Otedola described the award as well deserved, praising Chagoury’s legacy in business and national development.
Otedola highlighted Chagoury’s role in major real estate and infrastructure projects, noting that they have created jobs and reshaped Nigeria’s urban landscape.
“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,” Otedola said, adding that he celebrates Chagoury’s achievements.
Chagoury was born in Lagos to Lebanese immigrant parents and co-founded the Chagoury Group in 1971 alongside his younger brother, Ronald Chagoury. The conglomerate has interests spanning construction, real estate and property development, hospitality, glass manufacturing, flour milling, water bottling, insurance, furniture manufacturing, telecommunications, IT, catering and international financing.
He is a major financier of the Eko Atlantic City project through South Energyx Nigeria Limited, a subsidiary of the Chagoury Group. Hitech Construction Company Limited, also linked to the group, is currently handling the Lagos–Calabar Coastal Highway project.
The highway contract, valued at about $11 billion, generated controversy in 2024 following concerns over the absence of public bidding and Tinubu’s long-standing association with Chagoury. Reports also emerged that the President’s son, Seyi Tinubu, sits on the board of one of Chagoury’s companies and is a joint shareholder in a British Virgin Islands entity with Gilbert Chagoury’s son, Ronald Chagoury Jr.
Chagoury rose to national prominence in the 1990s and was known to have close ties with the late military ruler, General Sani Abacha, during whose administration his business interests reportedly expanded.
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