Landmark Africa will relocate its headquarters from Lagos and expand into two African countries following the controversial demolition of its beach resort, CEO Paul Onwuanibe revealed.
The company plans to shift its entire tourism and events business out of Nigeria while establishing operations in three other Nigerian states, following an estimated $80 million loss from the April 2024 demolition of its flagship Landmark Beach Resort.
Speaking on The KK Show podcast, monitored by Apples Bite Magazine, Onwuanibe disclosed the company had received interest from 12 state governors, with three states selected after a six-month evaluation. The specific locations remain undisclosed.
The demolition, executed with just seven days’ notice, caught the hospitality company off-guard, forcing an evacuation while guests were still present. Despite being a significant taxpayer contributing over 10 billion naira annually and the only private enterprise featured on the government’s tourism website, Landmark Africa has yet to receive compensation.
Onwuanibe estimates the broader financial impact on surrounding investments could reach $300 million. The move represents a strategic shift toward geographical diversification to mitigate investment risks in single locations.
Madukwe B. Nwabuisi is an accomplished journalist renown for his fearless reporting style and extensive expertise in the field. He is an investigative journalist, who has established himself as a kamikaze reporter.
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