The CEO of Landmark Africa Group, Paul Onwuanibe, has revealed the extensive financial and social impact of the sudden demolition of Landmark Leisure Beach. The destruction resulted in the loss of over $30 million in investments and left thousands of people without work.
In an interview on The KK Show via YouTube, Onwuanibe described the emotional toll, noting the demolition happened with only seven days’ notice.
“Landmark operates across three key areas—business, leisure, and lifestyle. The leisure business, which was demolished, constituted a major part of our revenue and infrastructure,” he said. He further explained that the land was acquired in 2006 for $17 million and developed with a $30 million loan. “Six years of investment were wiped out in six hours,” he added.
The demolition affected over 1,000 direct employees, 50 small and medium enterprises, and 4,000 people working within the Landmark ecosystem. The ripple effect extended to the broader community, including car park attendants, vendors, and hotels dependent on the annual influx of 4.5 million visitors to the beach.
Businesses operating on the site were caught off guard, leaving behind equipment such as TVs and fridges. Onwuanibe recounted scenes of chaos during the demolition, with guests still present at the facility when destruction began.
The closure also disrupted services for the beach’s 160,000 members and existing contracts worth billions of naira. “We had N9.2 billion of members’ money in our accounts, and over 200 contracts had to be renegotiated,” Onwuanibe said.
Despite the setback, Onwuanibe stressed the importance of resilience, saying, “You either lie down and cry or get up and go.”
The demolition, carried out in April 2024 under the directive of the Minister of Works, David Umahi, was reportedly due to the facility being situated on federal government land. This decision has sparked debate about the handling of such large-scale disruptions and their broader economic and social consequences.
