The Management of Landmark Beach in Lagos is demanding compensation from the Nigerian Government for the demolition of its properties worth N42 billion in April for the Lagos-Calabar Coastal Highway Project.
The management said the demolished properties included key infrastructure and buildings crucial to the Landmark ecosystem. The loss incurred has resulted in nearly half of the company’s revenue being affected.
This marks the first time Landmark Beach has publicly quantified the financial impact of the demolition, which occurred in April 2024.
The company is working with the government to secure adequate compensation to rebuild the Landmark ecosystem and establish a new beach location, aiming to support affected families and small businesses.
The demolition, which began on April 29, 2024, was due to the encroachment on the Right-of-Way of the Lagos-Calabar Coastal Highway.
Landmark Beach management stated they were not consulted about the highway’s alignment or the Environmental Impact Assessment (EIA).
The Federal Government recently began compensating property owners impacted by the highway construction, disbursing N2.75 billion in the first batch. However, Landmark Beach was not included in this initial compensation.
Meanwhile, the Minister of Works David Umahi on Friday, said the government will be re-routing and diverting, at some point, the Lagos-Calabar Coastal Highway realignment.
Umahi also confirmed that the government will be diverting completely from the Okun-Ajah community in Eti-Osa Local Government Area of Lagos State, citing concerns for the submarine cables along the coastline.
