Landmark Africa Group has partnered with the Enugu State Government in a joint venture to manage and transform the 150-hectare Nike Lake Resort into a world-class tourism and leisure destination.
The agreement was signed in Enugu on Thursday, January 16, 2025.
In a video shared on the AIT YouTube page, Landmark Africa CEO Paul Onwuanibe is seen signing the agreement, followed by a handshake with Enugu State Governor Peter Mbah to seal the deal.
Speaking to the press after the signing, Onwuanibe shared his thoughts on the potential of Enugu State and the opportunity this partnership presents:
“We feel there is a big opportunity, not just because the state is a progressive state, but on the basis that Enugu State very much can become the tourism and hospitality capital of the South East, and probably of Nigeria.”
Onwuanibe explained that the project is a joint venture where “the state has contributed the Nike Lake Resort as an asset, and Landmark is going to provide the management and operations of the resort and turn it to its former glory.”
Reflecting on the significance of the Nike Lake Resort, Onwuanibe shared that he attended university in Enugu around the time the resort was opening, noting that it was once considered one of the best resorts in the country. He expressed confidence that Landmark Africa could restore the resort to its former glory.
He further outlined the resort’s multifaceted role as a hotel, convention centre, and leisure tourist destination, emphasizing Landmark’s expertise in developing business, leisure, and lifestyle platforms.
Details of the deal
The Landmark Africa Group and the Enugu State Government have outlined details of their joint venture to manage and transform the iconic Nike Lake Resort.
Governor Peter Mbah announced the partnership in an X post on Thursday, stating that the state signed a deal with Landmark Africa Group to revamp and reposition the resort. He revealed that the company would invest N10 billion in the first phase to restore its past glory.
“Delighted to share that we have sealed a deal with the renowned Landmark Africa Group to revamp and reposition the iconic Nike Lake Resort,” the statement read in part.
It added, “Under this agreement, the Enugu State Government has entrusted the Nike Lake Resort as an asset, while Landmark Africa Group will invest an impressive N10 billion in the first phase to restore its past glory.”
Governor Mbah added that the investment would attract two million visitors annually, create jobs, and significantly boost the state’s Internally Generated Revenue (IGR), positioning the resort as a global destination for tourism, business, and relaxation.
On Friday, Landmark Africa Group provided further details in a statement by its Brand and Corporate Communications lead, Elsie Ogianyo. The company disclosed that the deal involves a 35-year lease agreement for the resort, which includes a 200+ room hotel and resort facility spread across 150 hectares of lush grounds surrounding the serene Nike Lake.
“The Landmark Group is pleased to announce its 35-year lease agreement for Nike Lake Resort in Enugu State. The Nike Lake Resort, a 200+ room hotel and resort facility, is built on over 150 hectares of lush green grounds and surrounded by the serene and picturesque Nike Lake in Enugu State,” the statement read.
Landmark described the resort, built over four decades ago, as a symbol of pride and excellence in the Coal City. The company expressed its commitment to transforming the property into a modern, world-class leisure destination.
Renovation works will begin in 2025 and proceed in phases. The revamped resort will feature hotel accommodations, waterfront villas, a kids’ park, diverse dining options, beach lounges, recreational and adventure activities, a golf course, sporting facilities, and other unique leisure experiences.
What you should know
This move follows Landmark Africa’s recent acquisition of waterfront land in Port Harcourt, in collaboration with the Rivers State Government, to redevelop the Port Harcourt Tourist Beach into a premier leisure, hospitality, and tourism destination.
- Landmark Africa’s growth strategy follows the 2024 demolition of Landmark Beach Resort in Lagos, necessitated by the construction of the Lagos-Calabar Coastal Highway.
- Nairametrics earlier reported that Landmark Africa, after the setback in Lagos, plans to relocate its Nigerian headquarters and expand into two other African countries and three additional Nigerian states.
- Onwuanibe noted that the company received interest from governors in 12 states, selecting three for new ventures after a six-month evaluation. Landmark is also relocating its events and tourism platform outside Nigeria.
Work on the Port Harcourt Tourist Beach redevelopment is slated to begin in the first quarter of 2025, with phased completion starting in the fourth quarter.
Enugu and Rivers States are confirmed for expansion, with the third state expected to be announced in the coming weeks or months.
