By Innocent Anaba

Diasporan real estate investors are expressing deep concern over the recent demolition of WinHomes Global Estate in Okun Ajah, Lagos—a development reportedly linked to the ongoing Lagos-Calabar Coastal Road project.

They are urgently appealing to President Bola Tinubu to intervene, alleging that the Federal Ministry of Works, under Minister David Umahi, is encroaching upon their legally acquired properties without due process.

Stella Okengwu, a prominent diasporan investor, addressed the media in Lagos, highlighting that the estate was demolished for allegedly violating the 2006 gazetted alignment for the proposed coastal road project.

She emphasized that investors had conducted thorough due diligence, securing all necessary documents and fulfilling requirements set by the Lagos State government before commencing construction.

“Our goal is to attract $250 million in repatriated investments through the WinHomes Investment Scheme Portal. We are law-abiding citizens committed to the development and growth of the Nigerian economy as well as its social and political development through the creation of job opportunities for over 5,000 Nigerian youths, both skilled and unskilled, via the real estate project powered by WinHomes Global Services Ltd,” Okengwu stated.

She further explained, “We crossed our Ts and dotted our Is. I need to emphasize that securing these documents was not only challenging but painstakingly involved a lot of efforts, including traveling to and from America to Nigeria countless times and meeting with the heads of departments at the Lagos State Bureau of Lands, the Surveyor General’s office, and the Ministry of Physical Planning. In the end, the estate land was secured, and its development continued in earnest after confirming the land was free from the proposed coastal road alignment.”

Despite these precautions, Okengwu alleges that Minister Umahi ordered the demolition without prior notification, resulting in significant financial losses and emotional distress for the investors.

She contends that this action undermines President Tinubu’s initiatives to encourage foreign investment and the efforts of the Nigerians in Diaspora Commission to attract diaspora investments.

“As an active member of the board of directors for the Africa-Canada Global Trade and Investment in Nigeria, we are constantly preaching to Nigerians in the diaspora to remember that Nigeria is all we’ve got, and as such, we need to bring our investment back home. The minister has, with his actions, hampered efforts to convince Nigerians living in the diaspora to come back and invest in the country,” Okengwu lamented.

The investors are not seeking financial compensation but are appealing to President Tinubu to mandate Minister Umahi to revert to the 2006 gazetted alignment, thereby acknowledging the legitimacy of their land acquisition and the due diligence they have undertaken.

This incident has broader implications for diaspora investments in Nigeria, potentially deterring other Nigerians abroad from investing in the country due to concerns over property rights and governmental interference.

It also raises questions about the balance between infrastructure development and the protection of private investments, highlighting the need for transparent processes and adherence to the rule of law in governmental actions affecting private property.