LASG to demolish $200m Landmark Beach Resort for coastal highway project
By Sodiq Adelakun
Controversy swirls in Lagos as the state government prepares to demolish the $200 million Landmark Beach Resort to make way for the Lagos-Calabar coastal highway project.
The notification to the owner of Landmark Beach Resort, Paul Onwuanibe, dated March 19, 2024, and signed by Deputy Director (Development Matters Department) Tpl Shomolu O. on behalf of the Permanent Secretary of the Ministry of Physical Planning and Urban Development, conveyed the directive.
Paul Onwuanibe, aged 58, revealed to journalists that he received a notice in late March, commanding him to vacate his multimillion-dollar resort within a mere seven days before its imminent demolition.
The Landmark Beach Resort, valued at over $200 million, serves as the host to more than 80 thriving businesses and provides employment to over 4,000 individuals directly.
Additionally, it contributes substantially to the state’s economy, generating over N2 billion in taxes annually.
Renowned as a premier tourism destination in Nigeria, the beach resort greeted nearly a million visitors in the past year alone.
Onwuanibe conveyed a blend of sentiments upon receiving the demolition notice, highlighting that he acquired the property back in 2007, long before the conception of the highway plans. He is currently pursuing avenues for adequate compensation amidst the impending displacement.
He raised concerns about the impact of the resort’s demolition on investment in the state and the livelihoods of those already operating there. The Landmark Group, with investments from both international and domestic players, could potentially withdraw if the resort, featuring various amenities like a mini-golf course and sports facilities, is dismantled.
Amidst the Lagos State Government’s initiative to clear unauthorised structures along the proposed Lagos-Calabar coastal highway, the Landmark Beach Resort finds itself in the crosshairs of potential demolition.
Removal notices, aimed at properties obstructing the planned 10.4-meter right-of-way for the project, have stirred apprehension among investors, both local and international.
The looming specter of the Landmark Beach Resort’s demolition has instilled fear within the business community. Owner Paul Onwuanibe has underscored the substantial investments poured into the resort over the years.
Its destruction, he warns, not only threatens the survival of the enterprise but also jeopardises the broader ecosystem it sustains. This includes the risk of substantial financial losses and the potential defaulting on loan repayments, further exacerbating the economic uncertainty surrounding the development.
