A group of foreign investors has appealed to President Bola Tinubu to halt what they describe as the unlawful destruction of a multi-million-dollar estate in Lagos State, alleging that actions linked to the Lagos-Calabar Coastal Road project have jeopardized their $250 million investment.

In an open letter addressed to the president, the investors claim that the rerouting of the coastal highway project has led to the demolition of their development site, the Winhomes Global Services estate at Okun Ajah, without notice or compensation. They argue that the diversion was unauthorized and not supported by valid technical or legal grounds.

The investors say they committed funds to the project based on faith in Tinubu’s Renewed Hope Agenda and the assurance of improved governance.

“We believed in the promise of a new Nigeria under your leadership. But what we have experienced is a harsh betrayal of that promise,” the letter states.

Challenging the justification for the road’s inland realignment, the investors reject claims that a marine cable project prompted the shift. They cite independent technical reports indicating that the cable in question is located offshore and does not interfere with the road’s gazetted path.

The group argues that their estate was lawfully acquired, with all necessary titles and approvals obtained, and faults government officials for allegedly violating legal procedures. They warn that continued demolition activities will not only damage investor confidence but could also harm Nigeria’s reputation as a destination for foreign capital.

In the letter, the investors urge the president to intervene by suspending further demolition at the estate, ordering an independent probe into the project’s deviation, facilitating compensation for losses, and holding accountable any officials found to have acted unlawfully.

They caution that failure to act may compel them to escalate the matter to international diplomatic, legal, and media forums.

“Without a credible response, we will have no choice but to seek remedies through all available global channels,” the letter added.

The Lagos-Calabar Coastal Road project has drawn scrutiny in recent months over planning controversies and legal disputes.

The investors’ complaint adds a fresh layer of concern as the administration continues to position Nigeria as open for business.