Coastal road: Worries not yet over as developers plead re-diversion

The worries, controversies, and applause that greeted the construction of the Lagos-Calabar coastal road are not yet over, as some developers and property owners continue to plead with the federal government to do something to address their concerns.

One of the developers whose worries have continued to simmer is Winhomes Global Services Limited, a real estate and infrastructure development company operating primarily in Nigeria and the United States.

The company is involved in significant projects, including the controversial $250 million estate in Okun Ajah, Lagos, which was allegedly demolished by the federal government to create right-of-way for the coastal road.

Stella Okengwu, the company’s chief executive officer, has appealed to President Bola Tinubu to intervene in the coastal highway re-diversion affecting Winhomes and several Nigerians in the diaspora who invested in the project area.

According to her, many diaspora investors committed their resources to the development in good faith, believing in Nigeria’s economic future and the protection of lawful investments.

“As a Nigerian in Diaspora and an entrepreneur who has continuously promoted foreign direct investment into Nigeria, I strongly believe that the protection of lawful investments remains critical to preserving Nigeria’s image globally,” she said.

Okengwu stressed that fair compensation and a peaceful resolution of the matter would help restore confidence in diaspora investors and the international business community.

She warned that failure to address compensation concerns fairly could negatively affect Nigeria’s investment climate, including reduced diaspora confidence, decline in foreign direct investment, and increased global concern regarding investor protection.

She, however, expressed confidence in President Tinubu’s leadership, noting that his administration could balance national infrastructure development with justice and protection for legitimate investors.

“Your intervention toward fair compensation and peaceful resolution in this matter will restore confidence among diaspora investors and the international business community. It will also demonstrate that Nigeria remains a nation where justice, fairness and the rule of law are respected,” she added.

The business executive further wished the president wisdom, strength, good health and divine guidance as he continues to lead the country, congratulating him on his victory in the just concluded party primary elections.

Okengwu described Tinubu’s victory as a reflection of the confidence and trust many Nigerians placed in his leadership, political experience, and developmental vision under the Renewed Hope Agenda.

She also extended Eid-el-Kabir greetings to the president, his family, and Nigerians, praying that the celebration would usher in peace, unity, wisdom, and prosperity for the country.

“As Muslims across the nation celebrate Eid-el-Kabir, I extend my heartfelt Sallah greetings to Mr. President and all Nigerians. May this sacred season bring peace, wisdom, unity, and prosperity to our country,” she prayed.