Minister of Works Engineer David Umahi has accused Winhomes CEO Engineer Stella Okengwu of dramatically inflating land prices after learning about the Lagos-Calabar Coastal Highway construction, alleging she raised plot prices from N21 million to N70 million.
Speaking in an interview with Arise TV from 7:51, Minister Umahi detailed what he described as questionable land transactions by the property developer in the project area. “The woman that is in charge of Winhomes development. From the available facts before me, she bought 12 hectares of land from the villagers according to her, in 2022. She bought 12 hectares for 50 million naira, not dollars, 50 million naira,” he stated.
The Works Minister revealed information about investors who allegedly purchased significant portions of the land from Okengwu. “And these investors, from what I have—because they have contacted me—two brothers bought five hectares. One person bought five hectares—that is 10 hectares already—and they are all based in Nigeria,” Umahi said.
He questioned the timeline and pricing structure of the land sales, highlighting what he sees as inconsistencies in the developer’s claims. “And as of 2021, she had started selling, but the document I have says she bought this land in 2022—and only 12 hectares—and then she was selling at 21 million naira per plot, not dollars, in 2021. And when we started construction, she started selling a plot for 70 million, and her plot is 675 square meters—that is what her own plot, you know, was said to be,” he explained.
The minister raised several questions about the legitimacy and transparency of the land acquisition process. “You bought 12 hectares within a very developed area for 50 million in 2022. If you go there, you’ll see a lot of houses around there. And so, how come, was it properly bought from the natives? Did you register the concern with Lagos State government? Can you put up the document before the public?” Umahi asked.
He called for transparency from both the developer and her clients regarding payment arrangements. “Then again who are the people that bought this land? Did they pay in dollars, or did they pay in naira? She should be able to publish it,” he said.
The allegations from Engineer David Umahi comes amid ongoing disputes over compensation for properties affected by the coastal highway construction, with some property owners claiming the government is not offering fair compensation for their investments. See, More, Here>>>
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