Lagos-Calabar Coastal Highway: Property owners petition Tinubu over demolition

By John Alechenu, Abuja

Owners of demolished properties wrong the WINHOMES Estate on the Lagos extremity of the Lagos-Calabar Coastal Highway person petitioned President Bola Tinubu implicit the handling of the demolition workout by the Federal Ministry of Works.

In a missive to the President, the company’s Chief Executive Officer, Engr. Stella Okengwu — a U.S.-based Nigerian capitalist — expressed interest that caller actions and statements by the Minister of Works, Engr. David Umahi, regarding the demolition could discourage Diaspora and overseas concern successful the country.

Okengwu said the substance was presently earlier a tribunal of competent jurisdiction, stressing that it was improper for immoderate enactment to marque nationalist declarations portion the lawsuit remained sub judice. She urged the Presidency to guarantee respect for the regularisation of instrumentality and judicial independency successful the matter.

The WINHOMES CEO explained that the project, conceived successful 2021, was designed arsenic a tourism-driven existent property improvement to pull concern from Nigerians successful the Diaspora. According to her, the 20-hectare task successful Lagos has 3 valid onshore titles and consists of astir 2,500 afloat serviced plots valued astatine ₦150 cardinal each.

She noted that the full task worth stood astatine astir ₦375 cardinal (approximately $250 million), representing 1 of the largest Diaspora-backed existent property developments successful Nigeria. However, she stated that the realignment of the coastal road had affected 400 plots worthy astir ₦60 billion, with cumulative damages estimated astatine ₦85 billion.

Okengwu maintained that WINHOMES Global Services Ltd. is afloat compliant with fiscal regulations and certified by the Special Control Unit Against Money Laundering (SCUML), emphasizing that each funds were sourced done morganatic planetary remittance platforms.

She besides clarified that the tribunal lawsuit betwixt the steadfast and the Federal Government — Suit No: FHC/L/CS/10063/25 — is inactive pending earlier the Federal High Court, Ikoyi, and that nary judgement has been delivered.

Citing judicial precedents, she stressed that each parties indispensable refrain from taking unilateral actions portion the substance is earlier the court.

Okengwu appealed to President Tinubu to intervene by ensuring owed process, protecting capitalist confidence, and directing an autarkic valuation of the affected property to find compensation for Diaspora investors.

She added that resolving the quality transparently would reenforce the government’s committedness to the “Renewed Hope” docket and fortify Nigeria’s planetary concern reputation.

The station Lagos-Calabar Coastal Highway: Property owners petition Tinubu implicit demolition appeared archetypal connected Vanguard News.