Diaspora Investors Seek Presidential Action Over Lagos-Calabar Road Compensation Dispute
- 17 hours ago
- 2 min read
Concerns are mounting among diaspora investors over unresolved compensation issues tied to the Lagos-Calabar Coastal Highway project, prompting renewed calls for federal intervention.
The Committee of Youth on Mobilization and Sensitization (CYMS) has urged President Bola Ahmed Tinubu to step into the ongoing dispute involving Winhomes Global Services Limited and affected foreign-based investors.
In a joint statement issued in Abuja, CYMS leadership expressed dissatisfaction over what it described as prolonged delays in compensating investors whose properties were impacted by the highway development. According to the group, more than two years after the demolition of a residential estate linked to the firm, affected stakeholders are yet to receive restitution.
The group warned that the situation risks damaging Nigeria’s credibility in the global investment space, particularly among diaspora communities that play a key role in capital inflows. It noted that prolonged inaction could send negative signals about the country’s commitment to protecting investments.
CYMS also raised questions regarding comments allegedly attributed to Minister of Works, David Umahi, suggesting involvement in the demolition process. The group stated that if verified, such claims would require clarification to ensure that all actions taken complied with legal and constitutional standards.
Beyond the immediate dispute, the organisation stressed that the matter has wider implications for investor confidence, warning that uncertainty surrounding compensation and due process could discourage future participation from both local and international investors.
It called on the presidency to provide clarity on the circumstances leading to the demolition, confirm that due process was followed, and ensure that all affected investors are fairly and promptly compensated.
In addition, CYMS urged the Federal Ministry of Works to publicly outline the legal framework that guided the demolition, while recommending an independent review by relevant oversight bodies to establish accountability.
Meanwhile, the group appealed to diaspora investor associations to reconsider planned protest actions abroad, expressing hope that government intervention would lead to a timely and satisfactory resolution of the dispute.
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