The last is yet to be heard of the controversy surrounding the Lagos-Calabar Coastal Highway, as the Chief Executive Officer of Winhomes Global Services Limited, Engr. Stella Ifeoma Okengwu, blamed the disrespect of the 2006 gazetted alignment of the road by Minister of Works, Engr. Dave Umahi, for the plight of her foreign-based subscribers.

Stella Ifeoma Okengwu, who states this in a statement in Abuja, described it as a dent spot on the success of President Bola Ahmed Tinubu in Foreign Direct Investment (FDI) for the country, which has already hit \$30 billion.

She said the success recorded by President Tinubu, though commendable, has left many Nigerians in the Diaspora and other investors already counting their losses because they chose to support the president’s call for FDI to help in actualizing the Renewed Hope agenda.

“During his Independence anniversary broadcast on October 1st, President Bola Tinubu boasted about the success of his government’s foreign direct investments.
The Nigerian leader claimed his government had attracted over \$30 billion in FDI. No doubt, this is encouraging news, but there’s a problem, and if something urgent is not done to address it, then the government’s drive for more foreign direct investments might suffer a significant setback.

“As you read this piece, thousands of Nigerians in the Diaspora and other investors are counting their losses—running into multibillions of naira worth of investments—simply because they chose to support their president’s call for foreign direct investments to help in actualizing the Tinubu-led administration’s Renewed Hope agenda,” she said.

Okengwu said when the president appealed to Nigerians, particularly Nigerians in the Diaspora, to support his government’s foreign direct investments drive, thousands of Nigerians in the Diaspora accepted the president’s call in terms of investments in the Nigerian economy.

These patriotic Nigerians in the Diaspora, according to her, comprising men and women of integrity, pulled their resources together to invest in the Lagos State real estate industry, specifically in the Okun Ajah community in the Eti Osa Local Government Area.

“Soon, their excitement turned into despair when the N15.6tn Lagos-Calabar Coastal Highway project was awarded by the Tinubu-led administration.

“Aware of the government’s intention to construct a coastal road nearly 30 years ago, the community, including the investors in the Okun Ajah axis, steered clear of the Approved Establishment Right of Way for the road. However, in a shocking turn of events, the Ministry of Works, under the leadership of the Honourable Minister of Works, Engr. David Umahi, authorized the diversion of the ongoing Lagos-Calabar Expressway into their community,” she said.

Okengwu alleged that the diversion was done to favour some set of persons who are clearly on the wrong side of the Lagos-Calabar Coastal Highway project.

“According to the Okun Ajah Community Development Association, the apex body of indigenes and residents of Okun Ajah, the road was diverted from the 2006 Gazetted Coastal Road Alignment.

“The illegal diversion has led to the demolition of properties and lifelong investments of Nigerians in Diaspora, running into multimillions of naira. In a bid to protect their investments, investors in the Okun Ajah community have appealed to Engr. Umahi to respect the 2006 Gazetted Coastal Road Alignment. So far, the minister has ignored the appeals from the investors and carried on with the diversion, despite spirited efforts from investors and the Okun Ajah community residents to stop the illegal road diversion.”

The statement added that the refusal of the Minister of Works, Engr. Umahi, to do the right thing has raised questions about the government’s sincerity regarding its foreign direct investments drive.

She wondered how a government in need of urgent foreign direct investments would be the one to frustrate the investments of its citizens in the Diaspora on the altar of alleged favoritism.

“Truth be told, the controversy surrounding the Lagos-Calabar Coastal Highway project is capable of eroding the confidence of foreigners willing to invest in the Nigerian economy,” she said.