Diaspora Investors Cry Out Over Lagos–Calabar Highway Project, Urge Tinubu to Protect Investments and Uphold Rule of Law
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Fresh controversy has erupted over the Lagos–Calabar Coastal Highway project, as Nigerian investors in the diaspora call on President Bola Tinubu to intervene and safeguard their multibillion-naira investments allegedly affected by the ongoing construction.
The concerned investors, through a statement signed by Engr. Stella Okengwu, a Nigerian developer, warned that the dispute surrounding the project could erode investor confidence, undermine the “Renewed Hope” economic vision, and dent Nigeria’s image as a safe investment destination.
Okengwu said the appeal became necessary to ensure the protection of constitutional due process and the integrity of President Tinubu’s development agenda, particularly regarding a major diaspora-funded real estate and tourism project located along the highway corridor.
She accused the Minister of Works, Engr. David Umahi, of making comments and taking actions that “cross legal boundaries,” endangering the project and exposing the presidency to unnecessary controversy.
“I speak not only as a developer but as a proud Nigerian representing hundreds of investors in the diaspora who believed in President Tinubu’s Renewed Hope agenda — a vision that encouraged us to bring our hard-earned resources home to build Nigeria’s future,” Okengwu stated.
According to her, the disputed development, initiated in 2021, covers 20 hectares of legally acquired land subdivided into 2,500 serviced plots, each measuring about 400 square metres and valued at approximately ₦150 million per plot — amounting to about ₦375 billion (around $250 million).
She alleged that the current diversion of the coastal highway has affected around 400 plots and ongoing infrastructure works, including sand-filling, drainage, and community facilities, with estimated losses of over ₦85 billion.
“These are the legitimate investments of Nigerians abroad, duly transferred through regulated banking and remittance channels. This situation represents a direct threat to diaspora confidence and the sanctity of private property,” she said.
Okengwu emphasised that all project funding complied with Central Bank of Nigeria (CBN) and anti–money laundering guidelines, processed through platforms such as Sendwave, Western Union, MoneyGram, Lemfi, TapTap, and Boss Money. She also noted that the project had been certified by the Special Control Unit Against Money Laundering (SCUML) under the Money Laundering (Prevention and Prohibition) Act, 2022.
She dismissed any suggestion of illicit funding as “false and defamatory,” warning that those spreading such claims would face legal action.
The statement further clarified that the dispute is already before the Federal High Court in Lagos, with Suit No. FHC/L/CS/10063/25, contrary to reports suggesting that judgment had been given in favour of the Federal Government.
Citing the Supreme Court’s ruling in Governor of Lagos State v. Ojukwu (1986), Okengwu urged the government to refrain from actions that could prejudice ongoing judicial proceedings, stressing that “no party, including government institutions, is above the law.”
She expressed concern that invoking the President’s name in the matter could place the presidency in an awkward legal and diplomatic position, while also damaging Nigeria’s reputation for fairness and respect for the rule of law.
Okengwu further lamented the “distortions and inconsistencies” in public statements about the affected land size, investor roles, and private sector consultations, warning that misinformation could discourage further diaspora participation in Nigeria’s economy.
She called on President Tinubu to step in immediately by halting all actions pending court judgment, reaffirming judicial independence, and establishing an independent panel to evaluate the financial impact of the project on affected investors.
“Mr. President, Nigeria stands at a defining moment. We must choose between protecting the Constitution, upholding diaspora investments, and defending our nation’s image — or allowing unchecked ministerial actions to erode public trust. The world is watching,” she concluded.
