<\/strong>was told in a government letter that his Landmark Beach resort \u2013 a top-tier destination visited, he says, by about a million local and foreign visitors last year \u2013 had to be removed as it \u201cfalls within the right of way\u201d of a planned 700-kilometer (435-mile) coastal highway designed to link the former capital city to Calabar, a port city near the border with Cameroon.<\/p>\n\n\n\nOnwuanibe 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\u00a0receiving\u00a0the demolition order, which\u00a0also\u00a0urged him to file compensation claims.<\/p>\n\n\n\n
\u201cOne was amazement, second was concern and the third one was, \u2018is this real or is this an April Fools\u2019 (Day prank in) advance?\u2019\u201d<\/p>\n\n\n\n
Onwuanibe leads Landmark Group, a real estate developer and a key player in Nigeria\u2019s tourism and hospitality industries.<\/p>\n\n\n\n
The group\u2019s\u00a0leisure beach, listed among\u00a0Nigeria\u2019s best seven beaches\u00a0in 2023 by the Lonely Planet travel guide,\u00a0is a lucrative part of the 13-hectare mixed-use Landmark site along the Atlantic Ocean beachfront\u00a0in Lagos\u2019s affluent Victoria Island area.<\/p>\n\n\n\n
The beach resort and\u00a0other\u00a0sections of the Landmark site on the coastal right of way are billed to be pulled down, a government notice seen by CNN\u00a0states.<\/p>\n\n\n\n
Valued at over $200 million, according to Onwuanibe, the Landmark site 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, the company said.<\/p>\n\n\n\n
Approval for the\u00a0new\u00a0coastal road was given\u00a0on February 27\u00a0by the federal authorities, according to presidential aide Temitope Ajayi.\u00a0He\u00a0said\u00a0on X\u00a0that the superhighway, \u201cwhen completed, will enter the world record books among iconic coastal routes like the Wild Atlantic Highway in Ireland and the Pacific Coastal Highway in the United States.\u201d<\/p>\n\n\n\n
The first\u00a0part\u00a0of the\u00a01.06 trillion naira ($841 million-plus)\u00a0highway\u00a0will be built in Victoria Island.\u00a0The superhighway will run\u00a0through a total of nine coastal states in Nigeria, Ajayi added, and\u00a0will\u00a0have \u201cfive lanes on each side of the dual carriageway and a train track in the middle,\u201d\u00a0as well as spurs linking up with northern Nigeria.<\/p>\n\n\n\n
Environmentalists say that, while the coastal road project would bolster the economy, it also poses environmental problems.<\/p>\n\n\n\n
\u201cIt\u2019s undeniable that the road construction will bring about significant impacts such as the destruction of wetlands, forests, and various habitats,\u201d said Lagos-based water and environment consultant Similade Adeodun. \u201cActivities like sand filling and dredging along the coastal areas also raise concerns,\u201d he told CNN.<\/p>\n\n\n\n
CNN has contacted the Lagos State Ministry of Physical Planning and Urban Development for comment on the coastal right of way and the consultation process involved.<\/p>\n\n\n\n
A blessing and a curse<\/h2>\n\n\n\n
Born in the United Kingdom, Onwuanibe says he \u201cshut down\u201d his investments abroad in 2007 to focus on ventures in Africa due to the continent\u2019s economic prospects.<\/p>\n\n\n\n
He commended the planned coastal project for \u201cconnecting vital regions of the country\u201d but feared it came at a steep cost for tourism in Lagos and posed a threat to foreign direct investment <\/strong>into the country if Landmark Beach is eventually torn down.<\/p>\n\n\n\n\u201cPeople who bring in money to make cities like this effective will be very concerned (with the proposed demolition of the beach resort). It will pose a huge threat to inward investment into the state and, most importantly, pose a threat to people who are already in the state trying to do things,\u201d Onwuanibe said.<\/p>\n\n\n\n
He told CNN the demolition of the beach would be an enormous loss, with millions of dollars of borrowed money already spent on developing the resort.<\/p>\n\n\n\n
\u201cWe\u2019ve spent between $80 and $90 million developing this ecosystem and one-third of that was spent on the beach. So, all that, which we are still paying loans on, will disappear,\u201d he said.<\/p>\n\n\n\n
Onwuanibe said foreign and local investors in Landmark Group were now threatening to pull out if the\u00a0beach resort,\u00a0which includes a mini golf course, a beach soccer field as well as a volleyball and basketball court,\u00a0is removed.<\/p>\n\n\n\n
\u201cWithout the beach, the entire ecosystem is at risk and is severely damaged,\u201d he said, adding: \u201cI have had widespread panic calls from my international and local investors as well as local debt providers threatening to pull the plug as they think this is material to our survival as a business.\u201d<\/p>\n\n\n\n
Lagos state, Nigeria\u2019s economic nerve center, has been on the hunt for foreign investment as federal authorities battle to revamp the country\u2019s economy in the face of challenges such as growing public and private debt, high inflation, and a sharp decline in the local currency.<\/p>\n\n\n\n
However,\u00a0\u201cpolicy and regulatory inconsistency\u201d and \u201cpoor stakeholders\u2019 consultation\u201d\u00a0have limited foreign\u00a0investment\u00a0into\u00a0Nigeria,\u00a0according to\u00a0a local think-tank, the Nigerian Economic Summit Group.<\/p>\n\n\n\n
What can be done?<\/h2>\n\n\n\n
Environment consultant Adeodun is urging authorities to conduct thorough environmental and social impact assessments before tearing down coastal businesses for the superhighway.<\/p>\n\n\n\n
\u201cFor Landmark Beach, which already generates significant revenue from eco-tourism, the government should explore robust measures to preserve the beach or consider alternative routes with fewer economic and ecological consequences,\u201d Adeodun told CNN.<\/p>\n\n\n\n
\u201cI understand that the original right of way for the road did not pass through Landmark Beach\u2026 Perhaps, revisiting the routes to ensure minimal environmental damage and preserve local businesses should be strongly considered,\u201d he added.<\/p>\n\n\n\n
For Onwuanibe, the coastal highway, once rethought, should serve as a blessing for thriving businesses <\/strong>situated <\/strong>along the coast rather than a curse.<\/p>\n\n\n\n\u201cThe first thing would be to do a proper study and proper consultation with the businesses that are most affected <\/strong>along it. It\u2019s a long-term project, so it requires more in-depth analysis,\u201d he said, adding that he was hopeful that discussions with the government can produce a \u201cwin-win solution.\u201d<\/p>\n\n\n\n\u201cThe second thing is to make sure that this (highway) is an advantage to those businesses and homes and all that socioeconomic activity, rather than a disadvantage,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"
When Lagos state authorities notified Nigerian business mogul Paul Onwuanibe in late March that he had seven days to leave his multimillion-dollar beach resort so it could be torn down, he thought it was an April Fools\u2019 Day hoax come early. Onwuanibe, 58, was told in a government letter that his Landmark Beach resort \u2013 a top-tier destination visited, he says, by about a million local and […]<\/p>\n","protected":false},"author":1,"featured_media":38754,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,36,16],"tags":[7,38,26],"class_list":{"0":"post-38753","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-featured","8":"category-lifestyle","9":"category-news","10":"tag-apie-project","11":"tag-lifestyle","12":"tag-news"},"yoast_head":"\n
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