By Chinelo Obogo
The founder of Landmark Africa Group, Paul Onwuanibe, has said that over $30 million in investments and thousands of jobs were wiped out after the Nigerian government demolished Landmark Leisure Beach.
Speaking on The KK Show via YouTube on Sunday, Onwuanibe said that the beach was acquired in 2006 for $17 million and further developed with a $30 million loan secured abroad. He added that the demolition disrupted services for the beach’s 160,000 members and violated existing contracts.
Recounting the losses, he said, “Landmark consists of three parts: our business, our leisure, and our lifestyle. What was demolished was our leisure business, a significant part of both our revenue and our physical infrastructure. The initial reaction was shock, and then anger. You go through the five stages of grief, which are shock, anger, bargaining, concern, and finally acceptance.
“Many businesses didn’t have time to remove their equipment—TVs, fridges, even furniture. There were guests in the pool when Breeze was being demolished. It was tragic. We had N9.2 billion of members’ money in our accounts. There were over 200 contracts, including supply of water, fumigation, lifeguard services, all of which had to be renegotiated. Sometimes, you wish there was a natural disaster so you could invoke force majeure, but this wasn’t the case.”
Onwuanibe noted the impact on the surrounding community but stated that despite the challenges, they are still resilient.
“The guy parking cars on the streets lost his job. The person selling sweets at the gate had no customers. Hotels built outside Landmark that thrived on the four and a half million annual visitors were affected.
“At some stage, you have to accept it and move on. You either lie down and cry or get up and go,” he said, underscoring his determination to rebuild and learn from the experience.
In April 2024, the Minister of Works, David Umahi, ordered the closure of Landmark Beach for demolition purposes, saying it was necessary because the Landmark Centre was on the federal government’s right-of-way.