Chief Executive Officer of Winhomes Global Services Limited, Engr. Stella Okengwu, has faulted the explanation by the Minister of Works, David Umahi, over the realignment of the Lagos-Calabar Coastal Highway, insisting that her company’s estate was wrongly affected by the project.

Speaking during a television interview on Wednesday, Okengwu said the highway passed through the middle of the estate, destroying properties and causing significant financial losses.

She questioned the justification for the realignment, particularly the explanation that a marine cable influenced the route, arguing that the cable’s landing station was about eight kilometres from the estate.

Okengwu also disputed claims that the Presidency directed the realignment, calling for transparency in decisions affecting the project and private investments.

She said she had been seeking compensation for the destroyed properties and presidential authorisation to resume development on the remaining portion of the estate.

The Winhomes boss disclosed that the project was partly financed through loans obtained in the United States, adding that the financial pressure had forced her to sell some assets to meet repayment obligations.

She warned that the handling of the dispute could undermine investor confidence and discourage Nigerians in the diaspora from investing in the country.

While acknowledging the government’s authority to acquire private property in the overriding public interest, Okengwu insisted that such action must follow due process and provide appropriate compensation.

“I’m not saying that the government does not have overriding public interest to take any property, but they should do it legally,” she said.

She urged the Federal Government to intervene, resolve the dispute and ensure compensation for affected properties, stressing that protecting investors’ interests was essential to sustaining confidence in Nigeria’s economy. (Nigerian Tribune)