A group of Nigerians in the diaspora, under the banner of the Association of Nigerian Diaspora Investors, has appealed to relevant authorities to rescue their $250 million investments allegedly impacted by the Lagos-Calabar Highway project.
The investors, primarily based overseas, claimed their properties in Okun Ajah, Lagos State, were demolished without notice, despite having complete documentation and government approvals.
In a letter addressed to President Bola Tinubu, the association accused officials of carrying out the demolition without prior engagement, leaving over 500 investors stranded and victimized.
The letter, signed by representatives Olubokun-Basorun, Femi Adekoya, Arinze Onwumelu, and Kimberly Stark, highlighted their plight. It stated, “Our investments have been unjustly destroyed without explanation or compensation. We followed all legal processes, securing occupancy permits and clearance for the coastal road right of way.
The investors also alleged that sections of the coastal road project had been diverted to benefit certain properties, encroaching on their legally acquired land. They expressed concern over what they termed a lack of transparency and accountability in the project’s execution.
“This raises serious ethical concerns and demonstrates a glaring disparity in the treatment of law-abiding citizens,” the letter read, urging the government to investigate the matter and take immediate corrective action.
The group revealed that on October 5, 2024, officials from the Federal Ministry of Works, supported by military personnel and the Lagos State Task Force, stormed their site. They reportedly demolished structures, assaulted workers, confiscated phones, and removed building materials worth hundreds of millions of naira.
The investors argued that the demolition violated due process and dismissed ongoing legal challenges related to the area. According to them, there are seven pending lawsuits against the Ministry of Works concerning Okun Ajah, which have yet to receive a response.
The Ministry of Environment has also raised ecological concerns over the coastal road diversion, warning of potential erosion risks.
“We urge the government to act transparently and create a conducive environment for diaspora investors who are committed to Nigeria’s development,” the association emphasized.
Winhomes Global Services Ltd, the real estate company managing the affected properties, described the situation as a setback for their stakeholders, most of whom are Nigerians abroad seeking to invest in housing development in the country.
The group reiterated their faith in Nigeria’s potential but stressed that government intervention was essential to protect their investments and rebuild trust.
