Landmark Beach Resort: FG to pay N2.75bn compensation to property owners
…As demolitions on Right of Way of Lagos-Calabar Coastal Highway commences
Maureen Aguta
As bulldozers finally commence destruction of the popular $200 million Landmark Beach Resort to pave way for the construction of the Lagos end of the Lagos-Calabar Coastal road, Minister of Works, David Umahi, has announced that the Federal Government plans to pay N2.75 billion as compensation to the owners of the properties affected by the demolition required for the super highway.
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Umahi said that the highway is projected to stretch from channel 0 to channel 3.
He announced this during a stakeholders meeting held in Lagos on Wednesday.
According to him, more compensation is expected to be paid in the coming days.