• Tuesday, November 05, 2024
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Property owners on coastal highway RoW get additional ₦10bn compensation

Property owners on coastal highway RoW get additional ₦10bn compensation

Owners of properties on the Lagos-Calabar highway Right of Way (RoW) have been given an additional N10 billion compensation, bringing the total compensation paid for properties on that corridor to N18 billion.

David Umahi, minister of works, who disclosed this at the weekend, at a stakeholders’ engagement on the coastal highway project, explained that the compensation is for property owners affected by the construction of Section One of the project where properties have been demolished.

“The Federal Executive Council (FEC) initially approved N8 billion for this corridor, but today we are hitting 18 billion, and this is just for Section One,” the minister said.

He explained further that the compensation figures were based on assessments by independent professionals and would be made public with property details for transparency, urging those yet to get their compensation to expect it within 10 days.

He added that half of the payments have been made and the ministry has remained transparent in the process.

Akin Alabi, chairman of the House of Representatives Committee on Works, commended the minister for the level of transparency and engagement demonstrated in the compensation process.

Read also: Lagos incentivises property owners with 15% discount on land use charge

Alabi noted that making such information public would show more transparency, curb false claims and counter potential misinformation. “There are mischief makers out there, but by the time we start to publish these things, some people will have to keep quiet,” he said.

He commended President Bola Tinubu and the ministry’s efforts at ensuring that the coastal road project remained on track and emphasised that the project is for all Nigerians, irrespective of political affiliation.

Meanwhile, some stakeholders affected by the property demolition expressed strong dissatisfaction, calling for proper review of the process.

Olusola Enitan, a lawyer who is also an estate surveyor and valuer, argued that the compensation process had fallen short of legal standards.

According to him, the compensation process has been unjust and inadequate, leaving many residents worse off. “Somebody who had a home is now renting with no capacity to replace what was taken away from him. This is not the intent of this beautiful work you are doing,” he said.

Enitan cited multiple Supreme Court decisions supporting the right to fair compensation.

The minister acknowledged the pains of the aggrieved property owners, stressing that the ministry was working within the ambit of the law and that it was open to reviewing any documents presented by affected parties to aid swift payment of compensation.

He urged them to understand the reasons behind the actions on the project and apologized on behalf of the federal government in any way the development process has affected anyone.

He disclosed that the Ministry would soon begin another round of stakeholders’ engagements for the section two of the coastal road project.

SENIOR ANALYST - REAL ESTATE

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