A group of Nigerian investors in the diaspora has criticized the Ministry of Works for diverting the coastal road at Chainage 16-17, claiming the move endangers President Bola Ahmed Tinubu’s Renewed Hope agenda.
In a statement signed by Dr. Olubokun Basorun, Engr. Femi Adekoya, Dr. Kimberly Stark, and Dr. Arinze Onwumelu, the investors revealed that their $250 million real estate investment is now inaccessible and devalued due to the road diversion.
The investors have called on President Tinubu to intervene and hold the Minister of Works accountable for the diversion.
They are demanding that the Ministry of Works immediately restore the original alignment of the coastal road.
The diversion has raised questions about the government’s commitment to transparency and accountability, and the investors have vowed to continue demanding accountability and transparency from those in power.
“This investment, made in 2022, was intended to provide affordable housing and stimulate economic growth in Nigeria. Unfortunately, the project has faced significant delays due to the Ministry of Works’ decision to divert the coastal road.
“We have received credible reports indicating that under the leadership of Senator David Umahi, the Ministry has redirected the coastal road, thereby rendering these investment properties inaccessible and effectively worthless.
“This action represents a gross abuse of power and a betrayal of the trust placed in the Ministry by both the Federal Government, the president of Nigeria and the Nigerian people. We demand that the Ministry of Works immediately restore the original alignment of the coastal road.
“We call upon President Bola Ahmed Tinubu, known for his intellect and responsiveness, to intervene and hold the Minister of Works accountable. The President’s Renewed Hope Agenda emphasises infrastructure development, and such actions jeopardize this vision.
“The diversion of the coastal road exemplifies the impunity and abuse of power that have characterized the actions of certain government officials in Nigeria.
“Additionally, we would like to draw public attention to the court directive delivered on October 24, 2024, which states:
“”I will enjoin parties to respect the court processes and avoid engaging in any acts capable of foisting a fait accompli on the court or rendering the outcome of the case nugatory.”
“We will continue to demand accountability and transparency from those in power, ensuring that the rights of Nigerians, both at home and abroad, are protected,” they stated.
