The diversion of the coastal road by the Ministry of Works on Chainage 16-17 has continued to spark outrage among Nigerian diasporan investors, who claim it endangers President Bola Ahmed Tinubu’s Renewed Hope agenda.
The investors, in a statement signed Sunday, said the diversion has rendered their investment properties, valued at over $250 million, inaccessible and worthless.
This development is particularly concerning, given the Tinubu administration’s efforts to promote Nigeria as a prime global investment destination.
Vice President Kashim Shettima has emphasised the importance of international cooperation in achieving the goals of the Renewed Hope Agenda, which includes promoting democracy, driving economic development, harnessing Nigeria’s demographic potential, and engaging with the diaspora community.
The diversion of the coastal road has also raised questions about the government’s commitment to transparency and accountability.
The investors are calling on President Tinubu to intervene and hold the Minister of Works accountable for the diversion.
“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.
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“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 characterised 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,” the statement partly read.
