Landmark Beach

Breaking News: $200 Million Landmark Beach Resort in Lagos Faces Demolition Threat

Lagos State Government issues warning to demolish popular Landmark Beach Resort, causing uproar among business owners and investors. Find out more!

The $200 million Landmark Beach Resort in Lagos, a beloved tourist destination, is facing a threat of demolition as the Lagos State Government aims to clear space for a new coastal project. The resort, known for creating over 4000 direct jobs through its 80 businesses, is at risk of being partially demolished to make way for a 700-kilometer road. The CEO of Landmark Group, Paul Onwuanibe, is actively engaging with government authorities to prevent the demolition and save his business from substantial losses.

In a bid to avoid the impending demolition, Onwuanibe is in talks with both the Federal Government and the Lagos State Government to find alternative solutions. The potential loss of the Landmark Beach Resort, in addition to the $100 million debt at stake, has sparked concerns among stakeholders. The fate of this iconic tourist spot hangs in the balance as negotiations continue amidst growing tensions and uncertainties.

As the demolition threat looms over the Landmark Beach Resort, the tourism industry in Lagos faces potential disruptions that could impact the local economy. The standoff between the government and business owners highlights the challenges of balancing development with preserving established businesses. Stay tuned for updates on the evolving situation to see how the fate of this $200 million landmark unfolds.

Did you know that the Landmark Beach Resort in Lagos is a key player in the tourism sector, providing thousands of jobs and contributing significantly to the local economy? The planned demolition has raised concerns about the future of tourism in the region and the livelihoods of those dependent on the resort for their income.