UK-based businessman Charles Avwenagha has sparked widespread debate online after urging Nigerians living abroad to reconsider investing in Nigeria, following the demolition of his business premises by the Federal Capital Territory Administration (FCTA).
In a viral video circulating across social media platforms, the owner of Stop Over Lounge and Bar in Lokogoma, Abuja, claimed he lost his multimillion-naira investment after the FCTA demolished the establishment during an enforcement exercise allegedly supervised by the administration of FCT Minister Nyesom Wike.
According to the businessman, he secured a loan of approximately $75,000 to establish the hospitality business , only for the property to be demolished with what he described as just 24 hours’ notice.
He also decried that the establishment had only moved to its location less that eighteen months ago before the demolitions.
Charles Avwenagha is however not the only affected business man as several other establishment within the Lokogoma area were affected.
Business Owner Counts Losses
Speaking emotionally in the video, the entrepreneur said the demolition has left him financially devastated and has destroyed the livelihoods of dozens of workers.
He claimed that Stop Over Lounge and Bar alone employed 83 members of staff, while the wider demolition exercise reportedly affected several other businesses, resulting in the loss of about 300 jobs.
The businessman further alleged that affected property owners were not compensated before their structures were demolished.
Questioning the safety of investing in Nigeria, particularly for Nigerians in the diaspora who often channel their savings into businesses back home, he warned that such investments could be wiped out without adequate notice or compensation.
Additionally, he argued that many Nigerians abroad sacrifice for years to build businesses in their home country, only to face uncertainty due to government actions.
He also noted that he is considering denouncing his Nigerian citizenship and passport, adding that many others had done the same.
Outrage Across Social Media
The video has generated strong reactions across social media, with many Nigerians expressing sympathy for the entrepreneur while questioning the handling of the demolition exercise.
The FCT minister, Nyesom Wike has also once again come under criticism with some users accusing him of usually stripping residents off their lands.
Read Also: Wike Orders Demolition, Arrests Developer Over Illegal Buildings on Embassy Lands
Several users echoed his concerns, arguing that incidents of this nature could discourage investing in Nigeria by citizens in the diaspora, whose remittances and investments contribute significantly to the country’s economy.
Others, however, maintained that government authorities have the responsibility to enforce urban planning regulations where necessary, provided due process is followed.
However, at the time of report, neither the FCT minister or the FCTA has
Read Also: FCT Minister Clashes With Soldier Over Land Matter
