Foreign Investors Criticize $250 Million Property Demolition Along Lagos-Calabar Highway

Stella Okengwu, a real estate investor leading a group of diaspora investors through WinHomes Global Estate, has expressed frustration over the demolition of the company’s $250 million estate. The demolition occurred as part of the Lagos-Calabar Highway project, allegedly on the orders of Nigeria’s Minister of Works, David Umahi.

During a press briefing in Lagos on Wednesday, Okengwu condemned the demolition, claiming it targeted the estate unfairly. She stated that the diversion of the coastal road project into the estate impacted property owners, many of whom are Nigerians living abroad.

“All of WinHomes Global Estate, valued at $250 million, was demolished following an order from the Minister of Works, David Umahi,” Okengwu said. She accused the Ministry of diverting the road from the originally approved 2006 alignment, which had been earmarked under then-governor Bola Tinubu, now President of Nigeria.

Okengwu explained that after Tinubu’s call for Nigerians in the diaspora to return and invest in the country, she and her partners, Femi Adekoya and Olawale Oluwa (Pelle Homes), invested in land development to support the president’s economic agenda. However, she expressed disappointment with the Ministry of Works’ actions, which have jeopardized their efforts.

The investors, whose properties were located in the Okun Ajah area of Lagos State, are calling for urgent intervention from President Bola Ahmed Tinubu and an investigation into alleged corruption within the Ministry of Works. According to Okengwu, the demolition, carried out on October 5, 2024, violated the 2006 gazetted alignment for the coastal road project.

“Through WinHomes Investment Scheme, 70% of subscribers were diasporans, injecting millions into Nigeria’s economy. We followed all legal protocols, obtaining certificates of occupancy, governor’s consent, and coastal road clearance,” Okengwu added.

She accused the Federal Ministry of Works of illegally diverting the coastal road from its authorized alignment without prior notice, leading to the destruction of properties in WinHomes estate. Okengwu also suggested corruption within the Ministry, alleging that residents of Ocean Bay paid to have their properties spared, while WinHomes was left blindsided by the demolition.

She called on President Tinubu to intervene by restoring the original road alignment and ensuring that the Senate Committee on Works investigates the alleged corruption within the Ministry.

When contacted, the Special Adviser (Media) to the Minister of Works, Orji Orji, declined to comment, stating that complaints should be officially submitted for appropriate responses.

In a related development, residents of the Okun Ajah community in Eti-Osa Local Government Area raised concerns over the alleged illegal diversion of the Lagos-Calabar Expressway through their community. The Ministry of Works had justified the diversion due to the presence of telecommunications cables, but residents refuted this claim, urging President Tinubu to reverse the decision.

The Lagos-Calabar Highway project, which officially began in March 2024, is a major infrastructure initiative aimed at improving connectivity across Nigeria. The first phase of the 700km highway, a 47.7km stretch in Lagos State, is underway, with the full project expected to be completed within eight years.