Business Risks: Invest in Lagos at your own peril – Maryanne Moghalu warns

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Maryanne Moghalu, spouse of Kingsley Moghalu, the former Young Progressive Party presidential candidate, issues a stark caution to investors in Lagos State amidst rising concerns over business security.

Her warning comes in the wake of a recent demolition at Landmark Beach, part of the Mami Chula Beach Lifestyle, to make way for the Lagos-Calabar Coastal Highway.

The demolition process was initiated after an inspection of the 13th, 16th, and 20th kilometres by the Minister of Works, Senator Dave Umahi. The inspection aimed to identify the most cost-effective and feasible route for the coastal roads with minimal damage. Umahi underscored that the demolition would affect numerous structures and mentioned the allocation of compensation.

In response to the demolition, Moghalu cautioned on Tuesday that investments in Lagos come with inherent risks.

In the midst of these developments, Arise News Correspondent Laila Johnson-Salami seeks clarity on whether the project has secured final approval from the Federal Ministry of Environment or if any exemptions have been granted

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