Diaspora Investors Lament Demolition Of N375bn Estate, Seek Tinubu’s Intervention

Some Nigerian investors in the diaspora under the aegis of Association of Nigerians Diasporan Investors have cried out to President Bola Tinubu over their multi-billion naira investment in Nigeria, allegedly destroyed by the Minister of Works, Engr. David Nweze Umahi, over the Lagos-Calabar Coastal Highway project.

The Managing Director, Winhomes Global Services Limited, Engr. Stella Ifeoma Okengwu, read an open letter addressed to President Tinubu during a World Press Conference held on Sunday February 23, 2025, at Westheimer Road, Houston, Texas, United States.

The open letter titled, “Address to the President: An Indictment of Minister Engr. David Umahi” called for the quick intervention of President Tinubu to rescue their over $250 million in foreign direct investment in Nigeria, which in naira is about N375 billion invested in acquiring and developing 17.03 hectares of land in Okun Ajah, Etiosa LGA, Lagos State. They wrote that Engr Umahi was said to have initiated the demolition of the properties, claiming that the investments of $250 million was merely a ‘bare land’.

Okengwu said the actions of the minister and the Ministry of Works revealed a disturbing pattern of illegal demolition, abuse of power and witch-hunting.

“Winhomes, a leading real estate company, has made significant contributions to Nigeria’s economy, repatriating $250 million in foreign direct investment. Our efforts align with your renewed hope agenda, encouraging Nigerians in the diaspora to invest at home. Despite our compliance with all legal requirements, including obtaining the necessary certifications and approvals, we have faced unjust treatment at the hands of the Ministry of Works.

“In the first quarter of 2024, we were shocked to learn that Minister Umahi had ordered an illegal diversion of the coastal road into our investment property—an action that defies the original alignment earmarked by your administration. This blatant disregard for the law, coupled with the minister’s selective demolition practices, raises serious concerns about integrity within the ministry,” she said.

The group in the letter also called for the minister’s sack or resignation, saying the people of Nigeria deserved a minister who embodies the renewed hope vision, not perpetuating corruption and abuse. “We implore you, Mr. President, to take swift action to uphold the rule of law and restore faith in our nation’s governance,” the letter reads.

The letter concluded by stressing that they have made several appeals to “various government bodies, including the House Committee on Works and the ICPC, yet no action has been taken.”

“We trust that your leadership will not allow this injustice to continue,” the letter added.