A group of Nigerian diaspora investors, alongside their American business partners, recently staged a protest in Houston, Texas, over the alleged diversion of the Lagos-Calabar Coastal Highway, which they claim has put their $250 million (₦375 billion) real estate investment at risk.
The investors, operating under the Association of Nigerians in Diaspora, allege that the highway’s realignment in Okun Ajah, Lagos, has led to the demolition of properties within their estate. They argue that this sends a discouraging message to potential investors and threatens confidence in Nigeria’s investment climate
The protesters have called on President Bola Ahmed Tinubu to intervene and investigate the role of the Minister of Works, Engr. David Umahi, in the project’s execution. They claim that the road’s route was altered from the originally approved 2006 alignment, unfairly affecting their development while allegedly sparing illegal encroachments on the designated path.
Engr. Stella Ifeoma Okengwu, Managing Director of Winhomes Global Services Limited and a key investor in the project, expressed frustration over what she described as "selective demolition practices." According to her, despite obtaining the necessary approvals, their development—spanning 17.03 hectares in Okun Ajah—was targeted, while other encroachments remained intact
In an open letter addressed to President Tinubu, the investors stated:"It is alarming that those who have illegally encroached upon the coastal road are spared, while law-abiding investors like us face unjust demolition."
American investors who partnered in the project also joined the protest, voicing disappointment over the alleged demolition. Kimberly Starks, an investor from the U.S., urged the Nigerian government to ensure transparency and accountability in infrastructure projects.
"We invested in Nigeria in good faith, believing in the government’s commitment to creating an enabling environment. This kind of action discourages further investments," she said.
The investors are also calling on Nigeria’s National Assembly to introduce stronger legal protections for foreign investments, ensuring that infrastructure projects do not compromise private developments without proper consultation and compensation.
"Diaspora investors are critical to Nigeria’s economic growth, and actions like this only serve to discourage further participation," Okengwu emphasized.
As of now, the Nigerian government has yet to issue an official response to the concerns raised by the investors. However, the growing controversy surrounding the Lagos-Calabar Coastal Highway project may soon attract further scrutiny from both local and international stakeholders.
The investors hope that President Tinubu will take swift action to ensure fairness, uphold the rule of law, and restore investor confidence in Nigeria’s real estate sector.
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