Nigerians in Chicago have protested alleged poor investment environment and demolition of their businesses in Nigeria, threatening to hold similar protests in all states of America, Canada and Europe if President Bola Tinubu fails to address the issue and boost the confidence of investors.

In a statement made available to journalists in Kaduna yesterday by its Country Representative in Nigeria, Rev. Emmanuel Olorunmagba, the Diaspora group said an unfriendly business environment was capable of scaring away foreigners planning to invest in Nigeria to boost the nation’s economy.

It cited the case of Winhomes Global Services Limited, which reportedly 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 in Nigeria on the excuse that there was a marine cable in the location.”

The statement reads: “It is crucial to clarify that, marine cables are underwater and cannot be on land. The nearest station is located in Okun Mopo, approximately 7 km away from Okun Ajah.

“Therefore it is pertinent to note that the President’s response to the pressing issues raised will go a long way to show this administration’s concerns about the government’s commitment to addressing the grievances of affected citizens.

“We hold no animosity towards the coastal road itself; our concerns are focused on its implementation, precisely the diversion from the original blueprint.” The statement quoted one of the victims of the demolition exercise, Mrs Ifeoma, as saying: “Following President Bola Ahmed Tinubu’s victory in the 2023 General Elections in Nigeria and the launch of his Renewed Hope agenda, we, the Foreign Investors Network, have decided to invest in Nigeria through Winhomes, committing over $250 million in the Okun Ajah area of Lagos, specifically in Chainage 17 and 18.”

“We have acquired our investment property and successfully completed all necessary legal documentation that legitimises
our rights to build in Lagos State. Additionally, we submitted an application to the Ministry of Physical Planning, which issued us the Coastal Road Right of Way Clearance Certificate, dated April 16, 2024. This certificate confirms that we do not encroach upon the Coastal Road Alignment as mandated by law.”

The statement warned that continued silence by the President on the matter would negatively impact hardworking Nigerians living abroad, undermine their faith in the government’s ability to protect their interests and scare foreign investors away from Nigeria.