Diaspora Investors Protest Demolition of $250 Million Real Estate Project

Diaspora investors are voicing their outrage following the demolition of a $250 million real estate project, WinHomes Global Estate, which they claim was carried out without proper legal justification.

The demolition, executed under orders from the Federal Ministry of Works led by Minister David Umahi, has sparked significant controversy and allegations of corruption.

Stella Okengwu, a leading investor in WinHomes Global Estate, expressed her dismay at a press conference in Lagos on Wednesday.

She asserted that the demolition directly undermines the efforts of Nigerians in the diaspora to invest in their home country. “All the estate of WinHomes Global Estate was demolished following an order by the Minister of Works,” Okengwu stated.

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The real estate development, situated in the Okun Ajah area of Lagos State, was reportedly demolished on October 5, 2024, after the ministry allegedly altered the original alignment set forth in a 2006 gazette.

Okengwu claimed that this change was executed without notification or legal recourse, impacting numerous property owners, most of whom reside abroad.

“Our development attracted substantial foreign direct investment and was built following all legal protocols, including obtaining necessary documentation such as a certificate of occupancy and governor’s consent,” she explained.

The investors are now calling for President Bola Ahmed Tinubu to intervene and restore the original alignment of the coastal road, while also urging an investigation into the alleged corruption within the Ministry of Works.

In response, Orji Orji, Special Adviser (Media) to the Minister of Works, dismissed the allegations, stating, “Such complaints should officially be channeled for an appropriate response. We can’t react on nothing.”

The controversy surrounding the Lagos-Calabar Highway project has intensified as local community members also raised concerns regarding the diversion of the road.

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Residents of Okun Ajah have refuted claims from the Ministry that the diversion was necessary due to the presence of telecommunications cables, insisting that proper procedures were not followed.