By Abubakar Yunusa
A political movement, Rescue Movement for New Nigeria, has called on President Bola Ahmed Tinubu to assess the performance of the Minister of Works, David Umahi, over allegations that his actions are discouraging foreign investment and harming the Nigerian economy.
The group alleges that Umahi has overseen the illegal demolition of properties worth over $300 million, despite court orders protecting the investments.
The controversy revolves around the Lagos-Calabar Coastal Road project, where investors—many from the Nigerian diaspora—claim their legally acquired estates were destroyed without due process.
Speaking at a press conference on Tuesday, the movement’s leader, His Excellency Faduri O. Joseph (Fadojoe), condemned the demolitions, describing them as a “grave injustice” to Nigerians in the diaspora who have chosen to invest in the country.
“These investors obtained all necessary approvals and followed due process,” Fadojoe stated.
“But instead of encouraging them, the government is allowing their investments to be destroyed. This not only affects them but also discourages others from bringing their resources into Nigeria.”
The group questioned whether Umahi’s actions align with the vision of President Tinubu’s administration and suggested that some ministers might be working against the government’s success.
“If Nigeria is serious about attracting foreign investors, the government must ensure that investments are protected,” Fadojoe added.
“The National Assembly must enact stronger laws to safeguard both local and foreign investments from unlawful seizure and demolition.”
The movement urged the federal government to fully compensate affected investors and respect the rule of law. They called for an investigation into Umahi’s role in the demolitions and demanded that the government take steps to rebuild investor confidence in Nigeria.
Neither Minister Umahi nor the Ministry of Works has officially responded to the allegations. However, the issue raises concerns about the treatment of investors and the broader implications for Nigeria’s investment climate.
Nigeria has long sought foreign investment to boost economic growth and create jobs. However, incidents like these may deter investors who fear their assets could be arbitrarily seized or destroyed. If the allegations against Umahi hold true, it could signal deeper governance challenges that need urgent attention from the Tinubu administration.
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