Evaluating the Impact of the Coastal Road Project on Landmark Beach and the Insights of Paul Onwuanibe

In January 2025, a significant event unfolded along Nigeria’s southern coastline—the demolition of Landmark Beach. This decision was part of a grander scheme orchestrated by the government, aimed at constructing a 700-kilometer coastal road that will eventually link the bustling city of Lagos with the serene state of Calabar. But what does this mean for the local economy, for tourism, and for the very heart of community engagement?

Owned by the renowned businessman Paul Onwuanibe, Landmark Beach was not just a seaside location; it was a flourishing hub that brought together tourism, entertainment, and entrepreneurship. Imagine the sound of laughter amidst the waves, the aroma of freshly grilled seafood wafting through the air, and families spending joyful days in safe, well-maintained zones designed for recreation. Every year, this beach attracted thousands who sought to experience the beauty of Nigeria’s coastline while creating significant economic activity.

Valued at an impressive $200 million and employing over 1,000 people both directly and indirectly, Landmark Beach was a rare gem, standing testament to what effective private-sector investment could accomplish in public spaces. Complete with restaurants, bars, and sports facilities that catered to diverse crowds, it thrived as both an entertainment hotspot and a lifeline for many local businesses.

Yet, the rationale behind the demolition invokes a complex dialogue. The state government asserts that the coastal highway is pivotal for enhancing communication and spurring economic growth along the southern coastline. As they pursue a vision for a more connected Nigeria, one must ponder: at what cost do we chase progress?

Critics voice their concerns, arguing that the demolition proceeded without adequate consideration for due process, the security of investments, or the potential repercussions for jobs and tourism. A question arises: how often do we sacrifice established hubs of economic activity in the name of development?

Despite the turbulent circumstances, Paul Onwuanibe maintains a sense of optimism regarding business in Nigeria. During a candid interview at the Africa Technology Expo, he shared his thoughts on the investment landscape in West Africa’s largest economy, painting a picture that was as challenging as it was full of opportunity.

Reflections from Paul Onwuanibe

When posed with the question about Nigeria’s most compelling selling point for investors, Onwuanibe noted an intriguing paradox: the challenges inherent in the country serve to unveil outstanding opportunities. “It’s underdeveloped; it’s fraught with challenges and deficiencies,” he remarked, “but that in itself is an opportunity.”

However, he candidly admitted that enticing investors extends beyond merely showcasing potential. The sentiment he expressed is one that resonates with many entrepreneurs: “It’s not that hard to convince people there is an opportunity here; what is hard is explaining how they can withdraw their capital afterward.” This brings to light the delicate balance between enticing investment and fostering a safe economic environment.

Onwuanibe identifies as a traditionalist who fundamentally believes in the power of numbers and demographics. “I look for markets in Africa that boast large populations and signs of demographic growth,” he explained. Reflecting on potential, he mentioned the Democratic Republic of Congo (DRC), revealing his calculated approach to identifying where to invest effectively.

He further expounded on the nuances of investing in African markets. “Every bad place becomes good at some point. If you wait for it to become good, the opportunity is gone,” he said, casting his gaze toward Egypt, Nigeria, and the DRC as burgeoning markets. His perspective is grounded in reality; he succinctly labeled the overarching con as “poor capital,” while highlighting the opportunity for growth that awaits investors willing to navigate the challenges.

This dialogue surrounding the demolition of Landmark Beach and Onwuanibe’s insights serves not only as a reflection on the current state of Nigeria’s economy but also as a call to action. As we look toward a future built on ambition and growth, we must weigh the importance of preserving existing economic landmarks against the promise of new roads and highways. Are we prepared for this complex journey of navigation?