Diaspora Investors lament demolition of N375bn estate, call on Tinubu

• Nigerian investors in the U.S. have demanded justice after their multi-billion naira real estate investment in Lagos was allegedly destroyed due to the Lagos-Calabar Coastal Highway project
• They petitioned President Bola Tinubu over the alleged demolition of their multi-billion naira property, which they claimed was carried out by the Minister of Works, David Umahi
• The investors claimed to have invested $250 million (approximately N375 billion) in acquiring and developing 17.03 hectares of land in Okun Ajah, Lagos state, which was allegedly destroyed for the project

Diaspora investors accuse minister Umahi of demolishing N375bn propertyDiasporan investors accuse Umahi of demolishing N375 billion property.Photo credit: Nigerians Diasporan InvestorsSource: UGCWinhomes, a leading real estate company, has made significant contributions to Nigerias economy, repatriating $250 million in foreign direct investment. Our efforts align with your renewed hope agenda, encouraging Nigerians in the diaspora to invest at home. Despite our compliance with all legal requirements, including obtaining the necessary certifications and approvals, we have faced unjust treatment at the hands of the Ministry of Works.In the first quarter of 2024, we were shocked to learn that Minister Umahi had ordered an illegal diversion of the coastal road into our investment propertyan action that defies the original alignment earmarked by your administration. This blatant disregard for the law, coupled with the ministers selective demolition practices, raises serious concerns about integrity within the ministry, she said.We implore you, Mr. President, to take swift action to uphold the rule of law and restore faith in our nations governance, the letter reads.We trust that your leadership will not allow this injustice to continue, the letter added.FG demolishes buildings along Lagos-Calabar Coastal HighwayLagos-Calabar Coastal Highway project. Image for illustration purposes.
Photo credit: Nigerians Diasporan InvestorsSource: UGC

• We have paid: FG disburses N15 billion payment to landowners affected by Lagos-Calabar Highway

FG paid N2.75 billion compensation to landowners

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