Foreign Investors Threaten Protests Over Unfriendly Policies

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The Foreign Investors Network (FIN) in Chicago has vowed to continue protesting across the US, Canada, and Europe to push for a more favourable business environment in Nigeria. The group’s president, Ifeoma Nkengwu, expressed concerns that President Bola Tinubu’s administration may lose the confidence of potential investors if the business environment doesn’t improve.

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FIN cited the case of Winhomes Global Services Limited, which invested over $250 million in a Lagos real estate project, only to have it demolished due to alleged marine cable concerns. However, the group argues that marine cables are underwater and cannot be on land, pointing out that the nearest station is approximately 7km away.

“We hold no animosity toward the coastal road itself; our concerns are focused on its implementation, precisely the diversion from the original blueprint,” the group’s statement reads. They also mentioned reaching out to the Chairman of the Diaspora Commission, Mrs. Abike Dabiri, but are still awaiting feedback

FIN member Joseph Faduri emphasised the importance of a welcoming environment for investors, stating, “Irrespective of political affiliation, after the election we become one united people as Nigerians, and the president becomes the father of all.” He added, “Investors that could commit $250 million in a country should not be discouraged with demolition and silence but with a thank you.”

Faduri called on President Tinubu to investigate the matter, saying, “I lend my voice to calls by the investors that President Bola Tinubu probe this matter to see what has gone wrong and right the wrong to gain the confidence of other foreign investors”.

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