The ongoing construction of the Lagos–Calabar Coastal Highway has drawn concern from stakeholders, who are calling on President Bola Ahmed Tinubu to intervene in order to protect the interests of Nigerians in the diaspora whose investments may be impacted by the project.
In recent statements, investors and advocacy groups expressed concern that parts of the development could affect existing properties and projects backed by diaspora funding. They stressed the importance of balancing national infrastructure goals with the protection of legitimate private investments.
Stakeholders cautioned that failing to address the issue transparently and urgently could send the wrong signal to foreign investors.
Speaking on behalf of the investors, Engr. Stella Okengwu, a Nigerian developer, highlighted the need for transparent engagement between government authorities and private sector players, particularly in matters involving large-scale foreign-backed projects.
“I stand here not just as a developer, but as a proud daughter of Nigeria representing hundreds of diaspora investors who believed in the Renewed Hope vision of President Bola Ahmed Tinubu, a vision that inspired us to invest massively in Nigeria’s future,” she said.
She explained that the project, conceived in 2021, was designed as a tourism-driven national development model to encourage Nigerians abroad to invest back home.
According to her, the development involved 20 hectares of legally acquired land, properly titled and subdivided into 2,500 serviced plots, each measuring about 400 square metres, and valued at N150 million per plot, bringing the total worth to approximately N375 billion (about $250 million).
The statement claimed that the coastal highway diversion has already affected about 400 plots, alongside extensive on-site works such as sand-filling, drainage, embankments, and community structures, with estimated losses of about N85 billion.
She noted that the initiative was inspired by the Renewed Hope Agenda of President Bola Ahmed Tinubu and had drawn support from Nigerians abroad and international partners looking to contribute to national development.
“We believed in the Renewed Hope vision of President Bola Ahmed Tinubu — a vision that inspired us to invest massively in Nigeria’s future,” she said.
However, concerns have emerged over the potential impact of the ongoing Lagos-Calabar Coastal Highway project, which investors say may affect a portion of the WINHOMES estate. Okengwu stated that approximately 400 plots—valued at over ₦60 billion—could be affected if the current route alignment remains unchanged.
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According to her, the company is seeking clarity on land acquisition procedures and is advocating for adherence to due process, particularly as legal proceedings relating to the matter are still ongoing.
“The dispute is before the Federal High Court in Lagos (Suit No. FHC/L/CS/10063/25), and we believe all parties should allow the judicial process to run its full course,” she said.
She further expressed concern over public commentary and actions that could be interpreted as pre-empting the court’s decision or causing uncertainty among investors.
While she did not allege wrongdoing, Engr. Okengwu emphasised the importance of maintaining investor confidence and the rule of law, particularly in projects involving diaspora capital and international financial systems.
“This project is funded through legitimate financial channels and monitored by relevant regulatory bodies, including the Special Control Unit Against Money Laundering (SCUML),” she added.
She called for a fact-based dialogue involving all relevant stakeholders—particularly the Federal Ministry of Works and the investors’ legal representatives, to explore solutions that would protect both public infrastructure goals and private sector interests.
“We are not opposed to development. What we seek is a collaborative approach that considers the rights and investments of all parties involved,” she said.
Engr. Okengwu concluded by appealing to President Tinubu to help facilitate an impartial review of the concerns raised, ensure judicial independence is respected, and promote a business-friendly environment for both local and foreign investors.
“This is a moment for decisive leadership,” she said.
“We remain hopeful that with the right interventions, this project can still serve as a model for diaspora-driven national development.”
