A group of Nigerian investors residing in the United States, under the banner of the Association of Nigerians in Diaspora, have petitioned President Bola Ahmed Tinubu over the alleged destruction of their multi-billion-naira investments in Nigeria by the Minister of Works, Engr. David Nweze Umahi.
The investors, alongside their Black American partners, voiced their grievances in an open letter to the president, urging urgent intervention regarding their $250 million (approximately N375 billion) investment in the Okun Ajah area of Lagos State.
The controversy stems from the alleged diversion of the Lagos-Calabar Coastal Highway project into their acquired land.
During a protest in Houston, Texas, Engr. Stella Ifeoma Okengwu, Managing Director of Winhomes Global Services Limited, read the letter to journalists.
The investors accused Minister Umahi of unlawfully demolishing their properties and dismissing their investments as mere “bare land.”
The letter, titled “Address to the President: An Indictment of Minister Engr. David Umahi,” alleged a pattern of misconduct, including abuse of power, bribery, corruption, and selective demolition of properties. It highlighted that Winhomes, a key player in Nigeria’s real estate sector, had legally secured approvals for its investments, aligning with the administration’s Renewed Hope agenda.
The investors claimed that Minister Umahi disregarded a Federal High Court order directing all parties to respect legal proceedings.
They further accused him of favoring certain developers while targeting their investment unfairly.
In their petition, they called for Umahi’s immediate resignation or removal by President Tinubu, stating that his actions were undermining investor confidence and Nigeria’s economic growth.
They urged the government to investigate the alleged land-grabbing practices, halt further demolitions, and implement legal protections for foreign investors to prevent similar incidents in the future.
Supporting the call for intervention, American investors including Kimberly Starks, Athenia Morris, and Dr. Malik Sanders also appealed to President Tinubu, condemning the alleged selective demolition.
They described it as a violation of property rights and an abuse of power, calling for transparency and adherence to due process.
The investors emphasized that for Nigeria to attract more foreign direct investment, the government must provide a secure and fair business environment, ensuring that investors’ rights and assets are protected.
