The management of Landmark Beach is seeking N42 billion in compensation from the Nigerian Federal Government following the demolition of their property in April 2024. This is the first time the resort has publicly disclosed the estimated value of their losses.
In a statement, Landmark Group detailed the extensive damage caused by the demolition, which not only included the main beach area but also critical supporting buildings and infrastructure. This loss, they claim, has resulted in a nearly 50% decline in their revenue.
Landmark Beach emphasizes their intention to work with the government to secure compensation. The recovered funds would be used to revive the remaining Landmark businesses and establish a new family-friendly beach location. This initiative aims to support the livelihoods of families and small businesses impacted by the demolition.