The federal government is being sued by the management of Landmark Beach for damages after its properties—which are estimated to be worth N42 billion—were demolished.
The Landmark Group emphasised in a statement that the sites that were demolished had vital infrastructure and buildings that sustain the Landmark environment.
The company has suffered greatly as a result of the demolition, losing over half of its revenue.
The company’s persistent pursuit of fair compensation from the Federal Government was also emphasised in the statement.
VIDEO: FG Begins Sand Filling for Lagos-Calabar Coastal Road, Landmark Beach Workers Protest
Since the tragedy in April, this is the first time the resort centre has made the financial value of its destroyed properties available to the public.
“We are currently picking up the pieces following the demolition of almost N42 billion worth of supporting infrastructure and buildings, and the loss of nearly half our Company revenue.
“We are focused on working with the Government to receive adequate compensation required to jumpstart the rest of the once thriving Landmark part of the Landmark Ecosystem and a new family-centric beach in a different waterfront location.
“This will help to preserve the sustenance of the thousands of families whose livelihoods have been threatened by the demolition as well as recreate a platform for many of the small and micro businesses that were incubated on the Landmark Beach and adjoining beach resorts that were recently demolished,” the statement read in part.
Follow us on Facebook
Post Disclaimer
The opinions, beliefs and viewpoints expressed by the author and forum participants on this website do not necessarily reflect the opinions, beliefs and viewpoints of Anaedo Online or official policies of the Anaedo Online.