Nigerian Diaspora Investors Decry Coastal Road Diversion, Demand Accountability

SundayOkobi

The Association of Nigerian Diaspora Investors has raised the alarm over what it described as the Ministry of Works’ abuse of power and a potential setback to the nation’s economic growth.

In a statement jointly signed by the leaders of the group,  Femi Adekoya and Dr. Kimberly Stark, the association expressed deep concern about the diversion of the coastal road and the demolition of investment properties, primarily acquired by Nigerians in the diaspora, valued at over $250 million.

They said the affected investments, made in 2022, “were intended to provide affordable housing and stimulate economic development in Nigeria.

“However, the project has faced significant delays, largely attributed to the ministry’s decision to reroute the coastal road.”

The association added that the ministry’s actions, under the leadership of Senator David Umahi, have made these investment property inaccessible, rendering them effectively useless and undermining the original purpose of the development.

Adekoya, a representative of the investors, said in the statement that: “This is a grave case of impunity and a gross abuse of power by those entrusted with leadership.”

“These properties were purchased to boost Nigeria’s economy and provide much-needed housing for its citizens. The diversion of the coastal road not only nullifies the investment but also betrays the trust placed in the ministry by both the Federal Government and the Nigerian people.”

Consequently, the association is calling on President Bola Ahmed Tinubu, who has championed the Renewed Hope Agenda with a focus on infrastructure development, to urgently intervene.

The group also urged the president to hold the Minister of Works accountable for actions that might jeopardise national growth and progress.

Additionally, the association highlighted a court directive issued on October 24, 2024, which explicitly cautioned all parties to respect legal processes and avoid actions that could undermine judicial outcomes.

It stated that its call for the restoration of the original coastal road alignment is in line with the legal framework and aims to preserve the integrity of the country’s infrastructure projects.

The group demanded transparency and accountability from government officials, ensuring the protection of both local and international investments.

It reiterated its commitment to advocating the rights of Nigerians, both at home and abroad, and will continue to press for the immediate resolution of the matter.