Landmark Beach Seeks N42 Billion Compensation from Federal Government After Demolition

Landmark Beach management is demanding N42 billion in compensation from the Federal Government following the demolition of its facilities, which, according to them, severely impacted the company’s revenue and infrastructure. 

This development was revealed in a statement issued by the Landmark Group, which detailed the substantial financial losses incurred from the demolition that occurred in April.

The demolished structures included various support buildings and facilities integral to the Landmark ecosystem, pivotal in the operations of the popular resort. 

The company disclosed that these demolitions had wiped out nearly half of its revenue streams.

In the wake of the destruction, Landmark Group has been actively seeking appropriate financial recompense from the government. 

This move marks the first instance where the resort has publicly quantified its losses since the April demolition.

The statement further expressed the company’s intentions to collaborate with the government to ensure adequate compensation.

 “We are currently picking up the pieces following the demolition of almost N42 billion worth of supporting infrastructure and buildings, and the loss of nearly half our company revenue,” the statement read. 

It added that securing the funds is crucial for reviving the once-thriving parts of the landmark ecosystem and establishing a new family-centric beach at another waterfront location.

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Such compensation would not only support the restoration of Landmark’s business operations but also safeguard the livelihoods of thousands of families who depend on the beach and facilitate the resurgence of numerous small and micro businesses that thrived there before their recent demolition.

Background on the Landmark Beach Demolition

The commencement of the demolition at Landmark Beach Resort was first reported on April 29, 2024, which cited the resort’s encroachment on the right-of-way of the proposed Lagos-Calabar Coastal Highway as the cause. 

The demolition came just two weeks after parts of the beach were filled with sand.

The management claimed that it had not been officially consulted about the highway’s alignment or engaged in discussions about the Environmental Impact Assessment (EIA), which would outline the project’s effects on the resort.

As part of a broader initiative, the demolition of Landmark and other properties along the projected highway path, including sections of Mami Chula Beach Lifestyle, was executed following the government’s announcement.

Compensation Efforts by the Government

Earlier this month, the Federal Government, through the Minister of Works David Umahi, announced that compensation payments had begun for properties affected by the highway construction. 

At a stakeholder meeting in Lagos State, Umahi confirmed the initial disbursement of N2.75 billion, covering the first three channels of the project. 

He emphasized that this payment was just the beginning, with more expected in the near future.

However, it was noted that Landmark Beach was not included in the first round of compensation, which has added to the urgency of the resort’s demands for a fair settlement.