The CEO of Winhomes Global Estate, Stella Okengwu, has appealed to President Bola Tinubu to address the ongoing Lagos-Calabar Coastal Road diversion issue, emphasizing its negative impact on the economy and real estate investments in the Okun Ajah area of Lagos State.
In a statement issued on Wednesday, Okengwu expressed concern over the delays and challenges caused by the diversion, which she said has jeopardized investments worth millions of naira.
She highlighted the plight of numerous Nigerians in the diaspora who have invested in Winhomes Global Estate projects within the affected area.
Okengwu criticized the Minister of Works, David Umahi, for his decision to alter the road’s original alignment.
Umahi had explained during a November 2024 briefing with stakeholders and the House of Representatives committee that the diversion at Okun Ajah was necessary due to the presence of submarine cables from MTN and Africa Network.
The original route, planned 25 years ago, had to be adjusted to accommodate these installations.“When we got to Okun Ajah at Km 16, we discovered a network of cables coming from the ocean.
Instead of following the gazetted corridor, we decided to divert the coastal road,” Umahi said at the time.
While Okengwu acknowledged President Tinubu’s leadership and reforms aimed at advancing the country, she urged him to intervene in this matter to protect critical investments.
“This crisis threatens the investments of patriotic Nigerians in the diaspora who responded to the President’s call to contribute to national growth,” her statement read.
“I appeal to President Tinubu to ensure the restoration of the original coastal road alignment and direct the Senate Committee on Works to investigate corruption allegations tied to this diversion.
This step is crucial to safeguarding these investments and restoring confidence in the real estate sector.”
Okengwu emphasized that the affected investors adhered to all legal procedures and possessed proper documentation, including certificates of occupancy and coastal road clearances.
She underscored the importance of diaspora investments in national development, stating, “Protecting these investments is not just about saving properties but about ensuring that Nigeria remains an attractive destination for investors.”
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