The Foreign Investors Network (FIN) in Chicago, United States, has vowed to continue its protest across the America, Canada and Europe, to call for an enabling environment for businesses to thrive in Nigeria.
Its President, Ifeoma Nkengwu, worried that if President Bola Tinubu does not work to create an enabling environment for businesses, intending investors might lose confidence in his administration and be discouraged from investing.
In a statement by the Country Representative in Nigeria, Rev. Emmanuel Olorunmagba, the group said an unfriendly business environment could scare away foreigners planning to invest to boost the country’s economy.
He cited the issue of Winhomes Global Services Limited that invested over $250 million in real estate in Okun Ajah, Lagos State ‘only for the estate to be demolished on the instruction of the Minister of Works on the excuse that a marine cable exists on the original alignment along Okun Ajah.
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The statement reads: “It is crucial to clarify that marine cables are underwater and cannot be on land. The nearest station is in Okun Mopo, approximately 7km away from Okun Ajah.
‘Therefore, the president’s response to the pressing issues raised will go a long way to show that this administration is committed to addressing the grievances of affected citizens.
“We hold no animosity toward the coastal road itself; our concerns are focused on its implementation, precisely the diversion from the original blueprint. For instance, Dar Group, the designer of the coastal road, confirmed that no marine cable is on the original alignment but that bureaucratic constraints prevent them from making suggestions.”
“We have reached out to Chairman of the Diaspora Commission, Mrs. Abike Dabiri, and are still awaiting feedback on our concerns.”
A member, Joseph Faduri, during the protest, said: “Irrespective of political affiliation, after election we become one-united people as Nigerians and the president becomes the father of all.
“Therefore, our concern today is not about any political party, race or religion, but about our dear country, Nigeria. We want investors to invest in the country because there is no nation that can develop without the huge impact of investors as no government can singlehandedly develop a country.
“Investors that could commit $250 million in a country should not be discouraged with demolition and silence, but a thank you.
“Therefore, I lend my voice to calls by the investors that President Bola Tinubu probe this matter to see what has gone wrong, and right the wrong, to gain the confidence of other foreign investors.”