The Chairman and CEO of Coscharis Group, Cosmas Maduka, has weighed in on Nigeria’s economic structure, calling for the development of a seaport in the South-East region.
Speaking on the potential impact of such infrastructure, Maduka argued that it would significantly reduce Lagos State’s dominance as the country’s primary commercial hub.
“If the Federal Government develops a seaport in the South East, the monopoly Lagos State has on Nigeria’s economy will collapse,” he said.
According to him, creating alternative hubs for import and export would boost competition and ease reliance on Lagos.
“People will then realize there is an alternative, and competition will increase as businesses no longer rely on a single hub for import and export,” he added.
Maduka further suggested that the shift could compel Lagos to become more competitive in retaining businesses.
“Lagos State will be the ones now begging, praying, and working hard for business owners to stay in Lagos,” he stated.
He also used the opportunity to encourage people from the South-East, particularly the Igbo community, to invest more in their region.
“God has blessed Ndi Igbo, but we must think home as a people and develop our region,” he concluded.
