Pecohub President Bola Tinubu has conferred the country’s second-highest national honour of Grand Commander of the Order of the Niger (GCON) on Lebanese-Nigerian businessman, Gilbert Chagoury, in recognition of his “outstanding virtues” and contributions to national development.
The president invoked powers under Section 1(4) of the National Honours Act to bestow the honour on Chagoury.
“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 in part.
Billionaire businessman Femi Otedola in his congratulatory message on X on Monday, hailed the recognition as “well deserved,” describing Chagoury as a visionary whose business acumen has shaped Nigeria’s modern urban landscape.
“Your life is a masterclass in vision, discipline, and steady excellence,” Otedola wrote. “From Banana Island to Eko Atlantic City, your work speaks in landmarks, jobs, and lasting impact. Your leadership has inspired generations of Nigerians to think bigger and act bolder.”
He added, “This honour is truly well deserved. I celebrate you today and always.”
Chagoury, born in Lagos to Lebanese immigrant parents, co-founded the Chagoury Group in 1971 alongside his brother, Ronald Chagoury. The conglomerate has diversified interests in construction, real estate, flour milling, water purification, glass manufacturing, insurance, hospitality, telecommunications, IT, and international finance.
However, the award is expected to stir political debate given Chagoury’s long-standing relationship with President Tinubu. In 2024, Hitech Construction, a company owned by Chagoury, was awarded the $11 billion Lagos-Calabar Coastal Highway project without a public bidding process. The deal sparked scrutiny over transparency and conflict of interest concerns.
Reports also indicated that the president’s son, Seyi Tinubu, sits on the board of one of Chagoury’s firms and jointly holds a company with Ronald Chagoury Jr. in the British Virgin Islands.
