Nigerians in Diaspora, who invested in WinHomes World Property in OkunAjah, Lagos State, mapped for the Lagos-Calabar Coastal Freeway diversion between Chainage 17-18, have rejected financial compensation for the Lagos-Calabar Coastal Freeway mission realignment.
PUNCH On-line reviews that the property was demolished in October by the Federal Ministry of Works to present approach to the continuing coastal street mission development.
Talking with reporters on Thursday in Lagos, the Managing Director of WinHomes World Providers, Stella Okengwu, decried the demolition of the property and demanded adherence to the unique 2006 gazetted route.
She acknowledged that the unique route safeguarded the funding and property rights, including that they launched into full due diligence and secured all needed paperwork, together with fulfilling necessities from the Lagos State Authorities earlier than constructing.
Okengwu referred to as on President Bola Tinubu and the Minister of Works, David Umahi, to reverse the brand new alignment, describing it as a risk to Nigeria’s International Direct Funding.
She mentioned, “Regardless of having the governor of Lagos State, Babajide Sanwo-Olu’s consent, Certificates of Occupancy, and coastal street clearance, the Ministry of Works is compensating for a brand new alignment that violates the 2006 gazette. This undermines the Lagos State Properties Safety Regulation, 2016, which was enacted to guard buyers and property homeowners.”
Okengwu added, “The WinHome Property mission was launched to draw diaspora investments, with a purpose of repatriating $250 million into the nation and creating 5,000 jobs for Nigerians. We don’t want any compensation, we simply need the Federal Authorities to do the best factor by reversing to the previous route for the mission.”
A medical physician, Charles Mba, a Canada-based investor, expressed disappointment over the encroachment on the property, stating that the realignment jeopardizes years of sacrifice by Nigerians within the diaspora.
“Once we invested, there was no coastal street on this space. This sudden change undermines the belief we positioned within the authorities’s dedication to assist diaspora buyers,” he lamented.
Mba highlighted that many diaspora buyers have labored for many years overseas, saving each penny to spend money on Nigeria.
“This resolution will not be solely unfair but in addition a betrayal of our belief within the authorities,” he added.
The buyers accused the federal government of favouring encroachers on the expense of lawful stakeholders.
“Roads are for individuals, not animals,” one investor remarked.
“This transfer may displace households and destroy lives. The federal government should act to guard reputable buyers,” he added.
The buyers urged Tinubu and Umahi to go to the property and assess the scenario firsthand.
They consider reversing the choice will restore confidence in Nigeria’s funding potential.
Additionally talking with reporters, one other investor, Shadrack Oyibo, condemned the choice to divert the coastal street right into a residential property, calling it a violation of due course of and an injustice to buyers.
He acknowledged many Nigerians within the diaspora, together with himself and his colleagues throughout South Africa, have legally acquired properties within the space after thorough due diligence.
“We work laborious overseas, lower your expenses, and produce it again residence, solely to be handled unfairly. This isn’t proper.
“The affected property has all needed documentation, together with approvals from related authorities, making the realignment much more regarding,” he mentioned.
Oyibo questioned the rationale behind situating a coastal street 750 meters away from the seaside, opposite to the gazetted alignment.
“A coastal street must be near the seaside, not reducing by means of residential areas stuffed with properties,” he argued, pointing to seen buildings within the space.
He referred to as on the President, the minister, and Sanwo-Olu to intervene and reverse the choice, emphasisng the necessity to priorities equity and adherence to the regulation.
“We invested legally and need to take pleasure in the advantages of our laborious work. The federal government should do the best factor and guarantee this street follows the right alignment,” he concluded.