Information reaching Kossyderrickent has it that Lagos govt to demolish $250M Landmark beach investment attracting over 20k people weekly.
The government of Lagos State has issued a demolition warning to the proprietor of $200 Landmark Beach Resort, a leading tourism spot, because it obstructs the planned route of a 700-kilometer coastal road intended to connect the state with Calabar.
Paul Onwuanibe, 58, told CNN that in late March he was given a notice to vacate his multimillion-dollar beach resort within seven days for its impending demolition.
Onwuanibe said that the Landmark property, worth over $250 million, accommodates more than 80 businesses and sustains over 4,000 jobs directly. Additionally, the company claims it contributes more than N2 billion in taxes each year.
Onwuanibe told CNN he had obtained the land in 2007 before the plans for the coastal highway were drawn up, and felt a mix of emotions after receiving the demolition order, which also urged him to file compensation claims.
“One was amazement, second was concern and the third one was, ‘is this real or is this an April Fools’ (Day prank in) advance?’” Onwuanibe said.
The beach resort which is valued at over $200 million, according to Onwuanibe, is home to over 80 businesses and provides more than 4,000 direct jobs. It also generates over 2 billion naira ($1.5 million) in annual tax revenue.
Recall that the Lagos state government had written the company in two different national newspaper on the demolition.