Diaspora Group Protests Business Unfriendliness, Calls for Action from President Tinubu

Nigerians in Chicago have voiced their frustration over what they describe as an unfavorable investment climate in Nigeria, citing the demolition of their businesses as a major concern. The group has threatened to extend its protests to all states in the United States, Canada, and Europe if President Bola Tinubu does not take immediate action to restore investor confidence.

In a statement released in Kaduna by its Nigeria-based representative, Rev. Emmanuel Olorunmagba, the diaspora group warned that a hostile business environment could deter foreign investors and weaken Nigeria’s economic prospects.

One case highlighted was that of Winhomes Global Services Limited, which reportedly invested over $250 million in real estate in Okun Ajah, Lagos. The group claims that despite obtaining all necessary approvals, the estate was demolished on the directive of the Minister of Works, citing the presence of a marine cable at the location.

The group challenged this justification, asserting: “Marine cables are underwater and cannot be on land. The nearest station is located in Okun Mopo, approximately seven kilometers from Okun Ajah.”

The statement emphasized that President Tinubu’s response to the issue would reflect the administration’s commitment to addressing the concerns of affected investors and citizens.

“We are not against the coastal road project itself; our concern lies in its execution, particularly the deviation from the original blueprint,” the group stated.

Mrs. Ifeoma, one of the affected investors, recounted: “Following President Tinubu’s victory in the 2023 general elections and the launch of his Renewed Hope agenda, we, as members of the Foreign Investors Network, decided to invest in Nigeria through Winhomes, committing over $250 million in the Okun Ajah area of Lagos.”

She explained that the company had lawfully acquired its property, completed all necessary documentation, and obtained the Coastal Road Right of Way Clearance Certificate from the Ministry of Physical Planning, confirming that their estate did not encroach upon the road alignment.

The diaspora group warned that continued silence on the matter could have far-reaching consequences, including discouraging foreign investors and diminishing the trust of hardworking Nigerians abroad in the government’s ability to protect their interests.