Policy Uncertainty, Project Demolitions Driving Diaspora Investment Fears — Winhomes CEO

The Chief Executive Officer of Winhomes, Engr. Stella Okengwu, has said inconsistent government policies, weak protection of private investments, and the conduct of public officials are major reasons many Nigerians abroad hesitate to invest in the country.

Speaking during a televised interview, Okengwu described her experience as a diaspora investor as uneven and often discouraging, arguing that official actions have created anxiety rather than confidence among Nigerians looking to invest back home.

She disclosed that despite securing all statutory approvals, parts of her company’s infrastructure and property were demolished following directives from the Federal Ministry of Works. According to her, the projects were not located on any officially gazetted alignment, making the action difficult to justify.

Okengwu warned that when senior officials publicly question or mischaracterise legally approved projects, it undermines the credibility of regulatory processes and signals that compliance may not offer protection to investors.

She also criticised the lack of transparency around the costing of major infrastructure projects, particularly those executed in challenging terrains such as swampy areas, noting that failure to clearly explain such costs fuels suspicion and public confusion.

On compensation, the Winhomes CEO accused authorities of being vague and politicising the issue, stressing that uncertainty around redress further damages Nigeria’s reputation as an investment destination.

Okengwu stated that her firm attracted approximately $250 million in foreign direct investment and rejected allegations of wrongdoing, insisting that claims used to justify the demolitions were inaccurate and unsupported.

She revealed that she has formally petitioned the National Assembly and is pursuing all available local remedies before considering international options, adding that she has also sought legal guidance abroad on appropriate channels for redress.

According to her, rebuilding trust among Nigerians in the diaspora will require transparency, respect for due process, and genuine protection of lawful private investments, warning that continued disregard for these principles will keep capital away from the country.