Nigerians living abroad who invested in WinHome Global Estate, located along the Lagos-Calabar Coastal Highway diversion between Chainage 17-18, have urged the federal government to reconsider the controversial road alignment.
They advocated for adherence to the original route gazetted in 2006, which they believe better protects their investments and property rights instead of relying on compensation.
The investors are also calling for the enforcement of the Lagos State Properties Protection Law of 2016, designed to safeguard legitimate property owners against illegal occupation, harassment, and exploitation.
During a recent visit to the estate, the investors appealed to President Bola Ahmed Tinubu and Minister of Works David Umahi to reverse the recent alignment, stating that it poses a threat to Nigeria’s investment climate and the welfare of its citizens.
Stella Okengwu, Managing Director of WinHomes Global Services, said: “Despite having the governor’s consent, Certificate of Occupancy, and coastal road clearance, the federal ministry is compensating for a new alignment that violates the 2006 gazette.
“This undermines the Lagos State Properties Protection Law, 2016, which was enacted to protect investors and property owners,” she said.
Okengwu emphasized that the WinHome Estate project was launched to attract diaspora investments, to repatriate $250 million and to create 5,000 jobs for Nigerians.
A medical doctor, Charles Mba, a Canada-based investor, expressed disappointment over the encroachment on the estate, stating that the realignment jeopardizes years of sacrifice by Nigerians in the diaspora.
“When we invested, there was no coastal road in this area. This sudden change undermines the trust we placed in the government’s commitment to support diaspora investors,” he lamented.
Mba highlighted that many diaspora investors have worked for decades abroad, saving every penny to invest in Nigeria.
“This decision is not only unfair but also a betrayal of our trust in the government. Roads are for people, not animals,” one investor remarked.
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“This move could displace families and destroy lives. The government must act to protect legitimate investors.”
The investors urged President Tinubu and Minister Umahi to visit the estate and assess the situation firsthand.
They believe reversing the decision will restore confidence in Nigeria’s investment potential.
Another investor, Dr Kimberly Stark from Chicago Illinois in the United States of America appealed directly to Tinubu: “Mr. President, you have travelled globally, promoting foreign investment. Reversing this decision will reaffirm your commitment to protecting diaspora investments and inspire others to invest in Nigeria.”
They warned that such controversies send a negative message to potential investors and undermine federal efforts to attract foreign direct investment.
“We believed in the government’s vision for diaspora investment,” Stark stated. “Allowing this decision to stand will tarnish Nigeria’s reputation as a viable investment destination.”
Another investor residing in South Africa, Mr Shadrack Oyibo questioned the rationale behind situating a coastal road 750 meters away from the beach, contrary to the gazetted alignment.
“A coastal road should be close to the beach, not cutting through residential areas filled with homes,” he argued, pointing to visible structures in the area.