A recent This Day report reveals how investors are leaving Nigeria in droves as a result of a major local investor's property being earmarked for demolition along the route of the Federal Government's Lagos-Calabar Highway Project.
Quoting a real estate report, This Day writes: "the Paul Onwuanibe-led Landmark Group received notification from the government that the Landmark Beach resort was slated for removal due to its proximity to the proposed Lagos-Calabar 700km coastal highway".
"The demolition of the Landmark Beachfront raised concerns among investors. Some considered downscaling their investment plans, others have reallocated investments to other jurisdictions on the African continent," This Day further cites.
Explaining that the Landmark property here under discussion is estimated at $200 million while contributing tax returns estimated at $1.5 million, This Day reveals that "the report also stated that the demolition of the Landmark property has caused Nigeria's reputation for policy inconsistency and inadequate stakeholder consultation" to soar.
Talking about Nigerian governments' policy inconsistency side by side with the Coastal Highway Project of the Tinubu Administration, we are moved to ask...
What Became Of The Coastal Rail Project Of The Buhari Administration?
Yes, we've not been hearing about it, only for the buzz it once generated to be replaced by a new buzz around a coastal highway project between the same two cities. In our June article entitled 'NIGERIA: Possible Strategies President Tinubu Is Using To Pocket The Country As He Did Lagos', we had suspected that these projects were only meant as conduit pipes for siphoning the economy. We also suspected a conscious attempt to kill local enterprises as a part of an economic domination agenda by the top echelons of the Federal Government of Nigeria.
Now, the This Day report in question here brings this suspicion back. This time around, we hope Nigerians can join us in asking this question until the Federal Government answers.
One of the major reasons why our government administrators may take us for granted is that we as a people are not taking them to task enough. Our traditional media doesn't seem to be squaring up to the task. And now that we have social media, we should all be responsible for consistently demanding accountability from the government.
How Can We Ask The Government For This Explanation?
Since our legislative and judicial arms of government seem subjugated to the executive arm and our mainstream media is also not doing enough in demanding the needed accountability, Nigerians have no option than to ask:
- Where is the coastal rail project by the Buhari Administration?
- Why is the Tinubu Administration no longer talking about the rail project but instead is talking about a parallel highway project?
- Now that we have seen that our government's policy inconsistency is eroding investor confidence so much (of which we are going to be the ultimate victims), can we ask the government if the coastal highway project is not done according to an existing master plan? If it is, why is such a humongous investor property as the Landmark Beach resort getting affected?
If you are concerned about this situation, we urge you to ask these questions on one or more of your social media walls alongside the hashtag #CoastalRoadOrRail or #WhereIsTheCoastalRail.
Here is an example on X...
Alternatively, you can locate a 'share' link below and then, share this article alongside those hashtags. Thank you.
You can read more about the coastal rail project here on Wikipedia.
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