ABUJA – The Lagos–Calabar Coastal Highway project has sparked renewed controversy, with calls on President Bola Tinubu to intervene and safeguard the interests of Nigerians in the diaspora whose investments are reportedly affected by the ongoing construction.
Stakeholders warned that the dispute, if not promptly addressed, could undermine the administration’s Renewed Hope economic agenda and erode investor confidence in the country.
In a statement signed by Engr. Stella Okengwu, a Nigerian developer, she said the call became necessary to protect the integrity of the President’s economic vision and uphold constitutional due process in handling the dispute surrounding a major diaspora-backed real estate and tourism-led development project in Lagos.
Okengwu alleged that recent comments and actions by the Minister of Works, Engr. David Umahi, concerning the affected project site have crossed legal boundaries, risked reputational harm to the presidency, and raised concerns about the rule of law.
“I stand here not just as a developer, but as a proud daughter of Nigeria representing hundreds of diaspora investors who believed in the Renewed Hope vision of President Bola Ahmed Tinubu, a vision that inspired us to invest massively in Nigeria’s future,” she said.
She explained that the project, conceived in 2021, was designed as a tourism-driven national development model to encourage Nigerians abroad to invest back home.
According to her, the development involved 20 hectares of legally acquired land, properly titled and subdivided into 2,500 serviced plots, each measuring about 400 square metres, and valued at N150 million per plot, bringing the total worth to approximately N375 billion (about $250 million).
The statement claimed that the coastal highway diversion has already affected about 400 plots, alongside extensive on-site works such as sand-filling, drainage, embankments, and community structures, with estimated losses of about N85 billion.
“This represents the hard-earned resources of Nigerians abroad, genuine capital channelled through regulated systems, now endangered by ministerial overreach,” she added.
Okengwu stressed that the project’s funding was clean and fully compliant with Nigerian financial regulations.
She explained that all funds were transferred through authorised banking and remittance platforms such as Sendwave, MoneyGram, Lemfi, Western Union, Boss Money, and TapTap, in line with Central Bank of Nigeria (CBN) and anti–money laundering rules.
She further stated that the investments were certified by the Special Control Unit Against Money Laundering (SCUML), in compliance with the Money Laundering (Prevention and Prohibition) Act, 2022, insisting that every inflow was legitimate and verifiable.
“Any insinuation suggesting otherwise is not only false but defamatory, and will be met with appropriate legal response. These are lawfully earned funds from hardworking Nigerians abroad, not illicit proceeds,” she said.
The statement also clarified that the dispute over the affected property is currently before a Federal High Court in Lagos with Suit No. FHC/L/CS/10063/25, contrary to claims that judgment had already been delivered in favour of the Federal Government.
It urged respect for the judiciary and warned against any action capable of prejudicing an ongoing legal process.
Citing the Supreme Court’s decision in Governor of Lagos State v. Ojukwu (1986), Okengwu noted that no party, including a government institution, is permitted to take the law into its own hands while litigation is ongoing.
“By invoking the President’s name in a matter before the court, the minister has placed the presidency in the line of legal and diplomatic fire. This conduct risks undermining the judiciary and exposing the administration to reputational damage,” she said.
She further decried what she described as distortions and conflicting public statements about the size of the affected land, investor involvement, and advisory inputs from private sector stakeholders, warning that such misinformation could erode public trust and harm Nigeria’s global image.
Okengwu called on President Tinubu to take decisive action by reaffirming judicial independence, halting all actions pending court determination, and establishing an independent panel to assess the financial impact on affected investments.
“Mr President, Nigeria stands at a constitutional and moral crossroads. Either we protect the Constitution, diaspora investment, and Nigeria’s international reputation, or we allow ministerial excesses to erode decades of trust. The world is watching,” she said.
The statement appealed for the Presidency to demonstrate its commitment to transparency, justice, and economic reform by restoring confidence among diaspora investors who had placed their faith in the administration’s Renewed Hope vision.
VANGUARD.
