LAGOS — Stakeholders in Nigeria’s real estate sector have called on the Federal Government to review aspects of the proposed coastal highway alignment, citing concerns over its impact on property investments and communities along the corridor.
The stakeholders also urged the government to implement a transparent and equitable compensation framework for individuals and businesses whose properties may be affected by the project.
Speaking during a stakeholders’ engagement in Lagos, representatives of property developers, estate surveyors, investors and residents said they support infrastructure development but stressed that projects of national importance should be executed with adequate consultation and fairness.
According to the stakeholders, uncertainty surrounding the highway’s alignment has created anxiety among investors and property owners, with some developments reportedly facing demolition or acquisition.
They appealed to the relevant authorities to publish detailed information on the final route, the criteria used in determining the alignment and the process for assessing affected properties.
A real estate stakeholder said transparent communication would help reduce speculation and restore investor confidence in communities along the proposed corridor.
“We recognise the economic value of the coastal highway, but those whose investments are affected deserve clarity and fair treatment. Compensation should be timely, transparent and based on professional valuation,” the stakeholder said.
Industry professionals noted that while large-scale infrastructure projects often require land acquisition, adherence to due process is essential to maintaining public trust and protecting investment.
They further called for independent property valuations and accessible grievance mechanisms to enable affected residents and businesses to seek redress where necessary.
Experts in the sector said a clearly defined compensation policy would help minimise disputes, reduce project delays and reinforce confidence in government-led infrastructure initiatives.
The stakeholders also encouraged continuous dialogue between government agencies, host communities and private investors throughout the project’s implementation, saying sustained engagement would ensure that concerns are addressed before they escalate.
The coastal highway project is expected to improve transportation, boost tourism and strengthen economic activities along Nigeria’s coastline. However, stakeholders insist that achieving these objectives should be accompanied by transparent planning, respect for property rights and compensation that reflects the value of affected assets.
They maintained that balancing infrastructure development with the protection of private investments would contribute to the long-term success and public acceptance of the project.
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