Paul Onwuanibe, the founder of Landmark Africa Group, has revealed that the Nigerian government’s demolition of Landmark Leisure Beach destroyed over $30 million in investments and led to the loss of thousands of jobs. Onwuanibe shared the impact during an interview on The KK Show on Sunday, stating that the beach was initially acquired in 2006 for $17 million and further developed with a $30 million loan.
He described the demolition as a significant blow to the business, affecting 160,000 members and violating existing contracts. Onwuanibe explained, “What was demolished was our leisure business, a key revenue generator and infrastructure for us.” He recounted how businesses were unable to remove their equipment, and services such as water supply, fumigation, and lifeguard services had to be renegotiated.
He noted the broader impact on the surrounding community, with jobs lost and businesses that depended on the beach’s visitors, like hotels, now suffering. Despite the setback, Onwuanibe emphasized resilience, stating, “You either lie down and cry or get up and go.”
The demolition followed a directive from the Minister of Works, David Umahi, in April 2024, citing the need to clear the Landmark Centre, which was located on federal government land.