American Investors Appeal to Tinubu Over Demolition of N375bn Lagos Real Estate for Lagos-Calabar Coastal Road, Warn of Investor Exodus and Loss of Confidence in Nigeria
A group of American investors has called on President Bola Tinubu to urgently intervene in the alleged destruction of their ₦375 billion ($250 million) real estate investment in Lagos, warning that the incident could erode investor confidence in Nigeria.
The investors, under the Association of Nigerians in Diaspora, claim their properties in Okun Ajah, Lagos, were demolished to make way for the Lagos-Calabar Highway, despite having secured all necessary approvals.
Speaking on behalf of the group, Engr. Stella Okengwu lamented the situation, stating: “These investors have injected $250 million in foreign direct investment into Nigeria’s economy. Instead of support, they are facing unfair government actions.”
The investors urged Tinubu to personally intervene, stop what they describe as land grabbing, and restore confidence in Nigeria’s investment climate. They also called on the National Assembly to enact laws protecting foreign investors from similar occurrences.
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