Exola Predictions Feb 14, 2025.

Aftermath of demolition: Paul Onwuanibe moves Landmark beyond Lagos







 In a significant development for Nigeria's tourism and real estate sectors, Paul Onwuanibe, Chairman of the Landmark Africa Group, has entered into a 35-year lease agreement with the Enugu State Government to take over the management of the 150-hectare Nike Lake Resort. This partnership comes on the heels of a controversial event where the group's property, the iconic Landmark Beach in Lagos, was demolished to make way for the proposed 700km Lagos-Calabar Coastal Highway.



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The agreement to manage and develop the Nike Lake Resort signifies a new chapter for Landmark Africa Group, which has been a prominent player in Nigeria's leisure and hospitality industries. The move to Enugu could be seen as a strategic diversification for the company, aiming to spread its footprint across different regions of Nigeria and mitigate the risks associated with concentrated investments in one location like Lagos.




Nike Lake Resort, situated on the serene banks of Nike Lake in Enugu, has long been recognized as a potential gem for tourism in Eastern Nigeria. With this partnership, there's an expectation that Onwuanibe's vision for creating world-class leisure and lifestyle destinations will breathe new life into the resort. Historically, the site has offered a tranquil escape for business and leisure, boasting facilities that cater to both local and international visitors. However, under Landmark's stewardship, there's anticipation for an upgrade in amenities, marketing, and management practices that could transform it into one of Nigeria's premier resorts.


The backdrop to this new venture is the recent demolition of Landmark Beach Resort by the Lagos State Government. This action was taken to facilitate the construction of the Lagos-Calabar Coastal Highway, a project aimed at enhancing connectivity but which also brought to light the tension between urban development and established businesses. The destruction of the beach resort was not just a physical loss but also an economic one, affecting thousands of jobs and millions in investments. The event sparked widespread discussions on the need for better coordination between infrastructure projects and existing businesses, the protection of investments, and the implications for Nigeria's tourism sector. 


Paul Onwuanibe has been vocal about the impact of the demolition, highlighting the significant financial losses and the disruption to the tourism ecosystem in Lagos. The incident was a stark reminder of the vulnerabilities private sector entities face in the wake of large governmental projects. It raised questions about compensation, procedural transparency, and the future of investor confidence in Lagos, particularly in the real estate and hospitality sectors.


The partnership in Enugu could be interpreted as a strategic pivot. By moving into Enugu, Landmark Africa Group not only diversifies its risk but also taps into the untapped potential of Eastern Nigeria's tourism market. Enugu, often referred to as the coal city, has a rich cultural heritage and a burgeoning business environment, making it an ideal location for such a project. The involvement of Landmark Africa Group is anticipated to bring about enhancements in infrastructure, event hosting capabilities, and possibly the introduction of new leisure activities that could attract a wider audience to the area.


This development is trending on social media platforms like X, where opinions are mixed. Many see this as a positive step for Enugu's economy, expecting job creation, increased tourism, and the revitalization of a somewhat underutilized asset. Others are cautious, remembering the Lagos incident, and are keen to see how this partnership navigates the complexities of local governance, community expectations, and environmental considerations.



For Enugu State, this partnership could mean a significant boost. The state government's involvement with a well-regarded entity like Landmark Africa Group signals a commitment to economic diversification through tourism. It also reflects a broader trend in Nigeria where states are increasingly looking towards public-private partnerships to develop their assets and infrastructure.



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The success of this venture will hinge on several factors including the strategic vision of Landmark Africa Group, the cooperation between state authorities and the private sector, and the ability to market Nike Lake Resort not only within Nigeria but on the international stage. 


As the project unfolds, all eyes will be on how this partnership navigates the challenges and opportunities of transforming Nike Lake Resort into a beacon of tourism in Eastern Nigeria, potentially setting a model for future collaborations between state governments and private enterprises aiming for mutual growth and prosperity.

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