Nigerian business mogul Paul Onwuanibe was shocked when he received a notification from Lagos state authorities that he had seven days to vacate his multimillion-dollar beach resort, Landmark Beach, to make way for a 700-kilometer coastal highway project. Onwuanibe had acquired the land in 2007 before plans for the highway were made, leading to a mix of emotions upon receiving the demolition order. As the head of Landmark Group, a real estate developer, and tourism and hospitality player in Nigeria, Onwuanibe’s resort was a top-tier destination with a significant number of visitors each year.
The Landmark site where the beach resort is located is valued at over $200 million and houses over 80 businesses, providing over 4,000 direct jobs and generating substantial tax revenue. The approval for the coastal road project came in February, with plans for a superhighway that would span nine coastal states in Nigeria and boast multiple lanes on each side and a train track in the middle. However, environmentalists have raised concerns about the potential impacts of the project, such as habitat destruction and sand filling.
Onwuanibe expressed the financial and emotional toll that the demolition of the beach would have, with millions of dollars already invested in its development. Foreign and local investors in Landmark Group are considering pulling out if the beach resort is removed, posing a threat to the overall business ecosystem. The potential loss of the beach could deter foreign investment and negatively impact the local economy in Lagos, which is striving to attract more foreign investments amidst economic challenges faced by the country.
Lagos, Nigeria’s economic hub, has been actively seeking foreign investment to boost its economy, but issues like policy inconsistency and inadequate stakeholder consultation have hindered progress. Environment consultant Adeodun emphasized the importance of conducting thorough environmental and social impact assessments before proceeding with the demolition for the highway project. Adeodun suggested exploring alternative routes or measures to preserve the beach’s revenue-generating eco-tourism activities.
Onwuanibe called for a reevaluation of the coastal highway project to ensure minimal environmental damage and to preserve local businesses like Landmark Beach. He stressed the need for in-depth analysis and consultation with affected businesses to find a mutually beneficial solution. Onwuanibe believed that the coastal highway, if properly planned and executed, could be a blessing for businesses along the coast, contributing to their growth rather than hindering their operations. He remained hopeful that discussions with the government could lead to a positive outcome for all stakeholders involved.
