Real estate stakeholders and developers are calling for an independent investigation into the design and alignment of the Lagos-Calabar Coastal Highway, citing it as a potential contributor to the severe flooding recently experienced in Lagos.
Stella Okengwu of Winhomes Limited and Stephen Akintayo of Gtext Holdings argue that deviations from the original 2006 gazetted alignment and the road’s elevated construction have created a "valley effect," hindering natural drainage in surrounding communities. The stakeholders emphasize that while infrastructure development is vital, the project’s current implementation risks undermining investor confidence in the Nigerian real estate sector due to issues surrounding property rights, lack of compensation, and environmental impact concerns. They are advocating for an objective, technical assessment of the project and the establishment of an independent compensation fund to mitigate losses for affected investors.