The founder of Landmark Africa Group, Paul Onwuanibe, has spoken about the devastating impact of the sudden demolition of Landmark Leisure Beach.
According to him, the sad event wiped out over $30 million in investments and left thousands of lives disrupted.
Speaking on The KK Show via YouTube on Sunday, Onwuanibe described the emotional and financial toll of the event, which took place with just seven days’ notice.
“Let’s put this into perspective; 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—shock, anger, bargaining, concern, and finally acceptance,” he said.
Onwuanibe revealed that the beach site had been acquired in 2006 for $17 million and further developed with a $30 million loan secured abroad.
“It was my life’s work—27 years of hunting, farming, and working. Six years ago, we borrowed $30 million to develop that beach. Half of that money was spent on infrastructure you couldn’t even see, like underground drainage, water reticulation systems, and fiber-optic cables. The demolition wiped out six years of investment in six hours,” he said.
The demolition affected not only Landmark’s ecosystem but also the livelihoods of thousands.
“We had over 1,000 employees and 50 small and medium enterprises directly impacted. Over 4,000 people were employed, and with Nigeria’s dependency factor of 16, the ripple effects are unimaginable,” he said.
Despite the immense challenges, Onwuanibe emphasised resilience.
“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.
