Property owners along the Lagos-Calabar Highway have rejected the Federal Government’s compensation offer, describing it as insufficient compared to the actual value of their properties. In an exclusive interview with The PUNCH , a retired banker, Emeka Mewu, said the compensation he was offered was a merger sum compared to the value of his property. He said, “My property was valued at over N400m, both the land and developments thereon, which were four bungalows, but I was just given N3.
3m. The most essential value is the land itself, the cost of the land was so enormous that I had to sell two of my properties in different locations on the mainland in order to acquire this particular one. “The Lagos State Government did not stop us or ask us not to build, and this particular part of my land was not gazetted for this alignment.
” In a similar vein, an affected property owner, Paul Osemele, said nothing had changed in the situation, adding that he had to move back to his hometown due to the crisis that happened. He said, “I was offered N42m compensation, but I did not take it. Why would I take N42m, when my property was valued at N978m, which is close to a billion? This does not just apply to me alone but to many others.
“They demolished a twin duplex of five bedrooms each, converted into 16 apartments, with a penthouse, and a four two-bed flat each behind.” Buttressing this, the head of the coalition group for those having compensation issues and unfairly compensa.
