Coastal road: Lagos estate investors reject compensation, demand justice over realignment

Nigerians in Diaspora, who invested in WinHomes Global Estate in OkunAjah, Lagos State, mapped for the Lagos-Calabar Coastal Highway diversion between Chainage 17-18, have rejected monetary compensation for the Lagos-Calabar Coastal Highway project realignment.

PUNCH Online reports that the estate was demolished in October by the Federal Ministry of Works to give way to the ongoing coastal road project construction.

Speaking with reporters on Thursday in Lagos, the Managing Director of WinHomes Global Services, Stella Okengwu, decried the demolition of the estate and demanded adherence to the original 2006 gazetted route.

She stated that the original route safeguarded the investment and property rights, adding that they embarked on full due diligence and secured all necessary documents, including fulfilling requirements from the Lagos State Government before building.

Okengwu called on President Bola Tinubu and the Minister of Works, David Umahi, to reverse the new alignment, describing it as a threat to Nigeria’s Foreign Direct Investment.

She said, “Despite having the governor of Lagos State, Babajide Sanwo-Olu’s consent, Certificate of Occupancy, and coastal road clearance, the Ministry of Works is compensating for a new alignment that violates the 2006 gazette. This undermines the Lagos State Properties Protection Law, 2016, which was enacted to protect investors and property owners.”

Okengwu added, “The WinHome Estate project was launched to attract diaspora investments, with a goal of repatriating $250 million into the country and creating 5,000 jobs for Nigerians. We don’t need any compensation, we just want the Federal Government to do the right thing by reversing to the old route for the project.”

A medical doctor, Charles Mba, a Canada-based investor, expressed disappointment over the encroachment on the estate, stating that the realignment jeopardizes years of sacrifice by Nigerians in the diaspora.

“When we invested, there was no coastal road in this area. This sudden change undermines the trust we placed in the government’s commitment to support diaspora investors,” he lamented.

Mba highlighted that many diaspora investors have worked for decades abroad, saving every penny to invest in Nigeria.

“This decision is not only unfair but also a betrayal of our trust in the government,” he added.

The investors accused the government of favouring encroachers at the expense of lawful stakeholders.

“Roads are for people, not animals,” one investor remarked.

“This move could displace families and destroy lives. The government must act to protect legitimate investors,” he added.

The investors urged Tinubu and Umahi to visit the estate and assess the situation firsthand.

They believe reversing the decision will restore confidence in Nigeria’s investment potential.

Also speaking with reporters, another investor, Shadrack Oyibo, condemned the decision to divert the coastal road into a residential estate, calling it a violation of due process and an injustice to investors.

He stated many Nigerians in the diaspora, including himself and his colleagues across South Africa, have legally acquired properties in the area after thorough due diligence.

“We work hard abroad, save money, and bring it back home, only to be treated unfairly. This is not right.

“The affected estate has all necessary documentation, including approvals from relevant authorities, making the realignment even more concerning,” he said.

Oyibo questioned the rationale behind situating a coastal road 750 meters away from the beach, contrary to the gazetted alignment.

“A coastal road should be close to the beach, not cutting through residential areas filled with homes,” he argued, pointing to visible structures in the area.

He called on the President, the minister, and Sanwo-Olu to intervene and reverse the decision, emphasisng the need to priorities fairness and adherence to the law.

“We invested legally and deserve to enjoy the benefits of our hard work. The government must do the right thing and ensure this road follows the proper alignment,” he concluded.