Femi Otedola publicly celebrated Sir Gilbert Chagoury as his “mentor and role model.” In a heartfelt tribute shared on X (formerly Twitter), Otedola credited the 80-year-old industrialist with shaping the modern Nigerian skyline through a unique blend of “vision, discipline, and unwavering belief.”
Chagoury, a Nigerian-born philanthropist of Lebanese descent, is often described as the architect of modern Lagos, responsible for projects that moved from being “bold ideas” to national landmarks.
The “9th Wonder”: Eko Atlantic and Banana Island
Otedola’s tribute centered on two iconic developments that redefined Nigerian urban planning:
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Banana Island: Otedola noted that without Chagoury’s foresight, this ultra-luxury enclave—now a global symbol of Nigerian affluence—would not exist.
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Eko Atlantic City: Describing it as the “9th wonder of the modern world,” Otedola praised the land reclamation project for its environmental utility. The massive sea defense, known as the Great Wall of Lagos, currently protects Victoria Island and Ikoyi from the devastating coastal erosion and ocean surges that once threatened the heart of Lagos.
“What many see as infrastructure, I see as foresight protecting the present while securing the future.” — Femi Otedola
The Chagoury Empire: 1971 to 2026
Co-founded in 1971 with his brother Ronald, the Chagoury Group has evolved into a multi-sectoral titan. Its influence stretches across the “industrial backbone” of Nigeria:
| Sector | Key Assets / Companies |
| Construction | Hitech (Coastal Highway), ITB (National Assembly Complex) |
| Real Estate | Eko Atlantic City, Ocean Parade Towers (Banana Island) |
| Hospitality | Oriental Hotel, Eko Hotels & Suites, Hotel Presidential (PH) |
| Manufacturing | Glassforce, Nigerian Eagle Flour Mills, Ragolis Water |
| Infrastructure | Lagos–Calabar Coastal Highway ($11 Billion Project) |
The 2026 “Coastal Highway” Milestone
A defining legacy of the Chagoury Group in 2026 is the progress of the Lagos–Calabar Coastal Highway. In late 2024, the government awarded the $11 billion contract to Hitech Construction (a subsidiary of the Chagoury Group).
By the Christmas holiday period of 2025, the initial Lagos sections of the road were completed and opened to traffic, providing a critical new artery for commerce and travel. This project, which will eventually link nine coastal states, is viewed by the current administration as a “catalyst” for Nigeria’s economic acceleration.
Philanthropy and Legacy
Beyond the steel and concrete, Chagoury is recognized for his global philanthropic footprint, including:
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Healthcare: Major benefactor to St. Jude Children’s Research Hospital and the founder of the Chagoury School of Medicine in Lebanon.
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Culture: Significant contributor to the Louvre Museum, helping preserve global art and history.
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National Stability: His long-term commitment to Nigeria has remained a constant across multiple administrations, which Otedola described as his “greatest legacy.”
