Why Landmark's CEO is betting big on Nigeria's N5 trillion local tourism
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Landmark Africa CEO Paul Onwuanibe says Nigeria's tourism, real estate and hospitality sectors are shifting toward integrated destinations as consumers increasingly value experiences over standalone property.
Landmark Africa chief executive Paul Onwuanibe says Nigeria's tourism, real estate and hospitality industries are evolving as consumers increasingly seek experiences that extend beyond traditional property and accommodation, driving the growth of integrated destinations that combine residential, hospitality, leisure, retail, entertainment and technology in a single ecosystem.
In an interview with Nairametrics, Onwuanibe said the shift is changing how destinations are conceived, financed and operated, placing greater emphasis on domestic tourism and the ability to create experiences that attract visitors repeatedly.
He said when Landmark began operations, the focus was more conventional, centred on offices and property, but the company observed that consumers wanted places where they could work, eat, meet, stay, exercise and attend events, a change that altered the economics of its real estate.
The company is positioning itself to capture a share of Nigeria's N5 trillion domestic tourism market, with the CEO arguing that the sector's growth depends on developers building destinations that serve multiple needs rather than single-purpose properties.
The interview highlights a broader trend across Nigerian real estate, where hospitality, tourism and property developers are increasingly converging on mixed-use models to respond to changing consumer behaviour.