Landmark’s Onwuanibe speaks to impact of Nigeria’s coastal road project

The Landmark Group, a prominent business, leisure, and lifestyle organization in Nigeria, is facing significant challenges as the government begins construction of the 700-kilometer Lagos-Calabar Coastal Road. The CEO, Paul Onwuanibe, recently shared his concerns and insights in an interview with CNBC Africa. The news of the planned demolition exercise came as a shock to the company, which houses over 80 businesses within its ecosystem. Onwuanibe expressed his initial reactions, highlighting the significant investments and growth achieved over the past 27 years in building the largest business, leisure, and lifestyle platform in West Africa. The impact of the Coastal Road project on the Landmark Group extends beyond the infrastructure to the livelihoods of thousands of individuals working within its ecosystem. Onwuanibe emphasized the real stories of employees and entrepreneurs who have benefited from the opportunities created by the Landmark Group. The company's engagement with the government to address the challenges posed by the Coastal Road project has been marked by extensive consultations at both federal and state levels. Onwuanibe acknowledged the importance of the Coastal Road for tourism and overall infrastructure development but called for a win-win solution that preserves the existing businesses and livelihoods along the coastal corridor. He outlined various options, including the relocation of the road or adjustments to minimize the impact on the Landmark Group and its stakeholders. Despite the uncertainties surrounding the project, Onwuanibe remains optimistic about finding a middle ground with the government to ensure the continuity and growth of the Landmark Group. He emphasized the need to protect the investments of stakeholders, maintain operational stability, and sustain the unique offerings that have made the Landmark Group a premier destination in West Africa. The CEO shared insights into the resilience and tenacity required to navigate the business landscape in Africa, citing the challenges of regulatory environments, market dynamics, and foreign currency risks. He highlighted the importance of continuous growth and innovation to overcome obstacles and seize opportunities in a complex business environment. Onwuanibe also discussed the future plans of the Landmark Group, including potential expansion projects in other states in Nigeria and partnerships at the international level. Despite the current challenges, the company remains committed to delivering exceptional experiences and creating value for its customers and investors. As discussions with the government continue, the Landmark Group is focusing on strategic planning, scenario analysis, and collaboration to safeguard its operations and chart a sustainable path forward. The case of the Landmark Group serves as a testament to the resilience and adaptability of Nigerian entrepreneurs in the face of unprecedented challenges, highlighting the need for innovative solutions and proactive engagement to navigate business risks and ensure long-term success.