Lagos Coastal Highway: Win homes boss clarifies $250m claim, others
Stella Okengwu, Chief Executive Officer of WINHOMES Global Services Limited, has provided clarification on issues surrounding the company’s estate development in relation to the Lagos–Calabar Coastal Road. Speaking with journalists,
Stella Okengwu, Chief Executive Officer of WINHOMES Global Services Limited, has provided clarification on issues surrounding the company’s estate development in relation to the Lagos–Calabar Coastal Road.
Speaking with journalists, Okengwu explained that the widely referenced $250 million figure represents the estimated Foreign Direct Investment attracted into Nigeria’s real estate sector through the project. According to her, the investment was mobilised largely from the diaspora and international partners participating in the development.
She noted that diaspora-driven real estate investment contributes significant inflows to Nigeria’s economy annually, adding that the WINHOMES estate project forms part of that broader investment stream.
Okengwu stated that the company’s engagement with government authorities concerns compensation related to the portion of land affected by the alignment of the coastal road project. She explained that the amount involved relates specifically to the area impacted by the infrastructure development.
She also outlined that the estate site had already undergone substantial preparatory work before the road alignment affected part of the development. These activities included land clearing, grading, internal road layout planning, sand filling, and embankment work aimed at stabilising the soil.
According to her, the development process involved deploying more than 30,000 truckloads of sand alongside drainage preparation, road construction activities, and mobilizing heavy equipment such as bulldozers and payloaders.
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She added that the project also included community engagement initiatives, the construction of an estate gatehouse, and early-stage structural work for a proposed multi-storey development.
Okengwu further explained that the estate project operates under a developer-led structure, with subscribers acquiring their plots through WINHOMES as the project developer. She noted that the company continues to coordinate the development process and engagement with relevant stakeholders.
She reaffirmed the company’s commitment to transparency and constructive dialogue while working toward a resolution that supports both infrastructure development and private sector investment.
Okengwu expressed optimism that continued engagement among stakeholders would allow the estate project to be appropriately adjusted and eventually delivered in a manner that safeguards investor interests and aligns with national development objectives.
