Meet Gilbert Chagoury, the owner of Hi Tech Construction Company, who recently won the highly debated Lagos-Calabar coastal road contract without undergoing any competitive bidding process. Chagoury, a Lebanese/Nigerian, has a long-standing history in Nigeria, with his parents immigrating from Lebanon in the early 19th century in pursuit of economic opportunities. Now residing in Paris, France, at the age of 78, Chagoury has achieved substantial success through his conglomerate business empire in Lagos, which is run by his children.
However, beyond his business accomplishments, Chagoury has developed a close personal relationship with the president of Nigeria that spans over three decades. Their connection is so strong that the president publicly acknowledged Chagoury’s 78th birthday and referred to him as a confidant and trusted ally. This recognition is notable, as it marks the first time a sitting president has publicly acknowledged Chagoury since the restoration of democracy in 1999.
Chagoury’s wealth and influential connections have also allowed him to expand his interests to other ventures, including owning the renowned Eko Hotel Lagos and successfully establishing Eko Atlantic, the most expensive city in Nigeria. These achievements further exemplify the power and influence that Chagoury possesses in both business and political spheres.
Critics argue that Chagoury’s close relationship with the president may have played a significant role in securing the highly lucrative coastal road contract, estimated to be worth 15 trillion Nigerian Naira. Noteworthy construction companies such as Julius Berger and Wigwe’s Craneburg, which occupy the top two positions in Nigeria, were overlooked in favor of Chagoury’s company. This decision has raised concerns about favoritism, nepotism, and cronyism within the contracting process.
As Nigeria contemplates the implications of awarding such a significant contract without competitive bidding, it is essential to reflect on the potential consequences of personal relationships and political favors overshadowing transparent business practices.
