The Lagos-Calabar Coastal Way: Landmark Group’s $30 Million Development and the Ongoing Compensation Debate
In April 2024, the Nigerian federal government demolished Landmark Beach Resort in Lagos to make way for the Lagos-Calabar Coastal Highway project. This action resulted in the loss of over $30 million in investments and the displacement of more than 1,000 employees.
Paul Onwuanibe, CEO of Landmark Group, expressed frustration over the lack of compensation, stating that the company has not received any financial restitution since the demolition.
The demolition also disrupted services for the beach’s 160,000 members and violated existing contracts. Onwuanibe highlighted the broader economic impact, noting that businesses dependent on the resort’s operations, such as parking attendants and local vendors, also suffered significant losses.
Despite these challenges, Landmark Group is exploring new opportunities, including potential projects in other African countries. Onwuanibe emphasized the company’s resilience and commitment to contributing to the African economy.
