Chamberlain Peterside, a financial and investment expert with international experience in Russia and the West, has been appointed as the Director-General of the Rivers State Investment Promotion Agency (RSIPA).
According to businessday, the Agency was created as the biggest recommendation from the first-ever Rivers State Economic and Investment Summit in 2024. It has been saddled with the task of protection local direct investors and foreign investors. It helps to calm the nerves of the business community, respond to worries and questions of investors, and puts the views of the business owners across to government.
One of its biggest achievements in its short life is the creation of the One-Stop-Centre in Port Harcourt which is housing all state and federal agencies that a business owner must need from registration to regulation matters, especially land matters.
Peterside was a member of the then Rivers State Economic Advisory Committee and later became the Commissioner of Finance. It was in his time that Rivers State received the highest financial ratings and certifications that could open the way for global funding and business or investment partnerships, except the political crisis that swallowed the later part of the administration of the day.
Now, as DG of the investment promotion driving agency, he says he has vantage view of inflow of investments especially the efforts in the tourism sub-sector.
In an exclusive interview in his office at the 3rd floor of Emmanuel Aguma House on Moscow Road, he confirmed that Gov Fubara has attracted the biggest Tourism Investor in Nigeria, the Landmark Beach group who have one of the biggest investments in Lagos, and now in Enugu and some other states.
N10bn coming to PH Tourist Beach:
He admitted that this development has favoured the long-abandoned Port Harcourt Tourist Beach which was the centre of attraction decades ago.
The Landmark group had in an earlier interview with BusinessDay disclosed that they have set aside N10bn to develop the Port Harcourt Tourist Beach which is now called The ‘Landmark Port Harcourt Tourist Beach’. It is located at a point beside the Port Harcourt River which opens into Bonny Island and into the Atlantic Ocean. The place was dredged decades ago and developed to be a centre for fun both on land and beside the waters. Years after, the bubbling centre dies and decayed. The place is in the heart of the Town section of Port Harcourt.
Peterside said the pathetic situation had secretly troubled Gov Fubara who he said did not waste time to attract the Landmark group that had made name across the world as an international standards tourism investor and beach developer. Discussions began and were concluded with an agreement that was signed in 2025 and revised in March 2026.
By this, constriction work begins soon after. Peterside said the governor showed keen interest by posing reminders every now and then, something that puts everybody involved in the team on their toes. This is believed to be how public servants know a project that is at the heart of their governor.
Key issues that were said to have come up were the size of land available. It was supposed to be bigger but some acres are said to still be encumbered, so it was safer to sign off on safe and assured areas, about five hectares. Landmark is now free to do whatever it wants to start doing. Sources said whenever the rest is freed, it would be attached to the Beach.
Another matter was overview of security in the area. Officials admitted that the main Beach may be under adequate protection but the environment around area including adjoining streets and neighbourhoods may be under threat.
Several government officials including Peterside explained how this was taken into consideration during planning and negotiations. It was learnt that the approach was to get the buy-in of the surrounding community into the plan to rebuild the Tourist Beach. Their interests such as jobs, activities, trades, etc, were said to have been captured.
The opportunities that would begin soon to fall out include constriction jobs, supplies, sales opportunities, and offer to perform in the place. The fact that the Port Harcourt Cultural Centre (Rex Lawson Cultural Centre) is nearby offers another opportunity of ready troupes and performers that may be available at the Tourist Beach especially on major days and holidays.
According to the DG, the state government is already carrying out an urban renewal project in all of that area with road constructions and paving. The idea is to turn the Town section into a place of beauty and order. This alone can attract high net worth individuals who may choose to live, visit, or come over to relax. Lighting of all the roads in the area is said to be part of the deal.
Another source said groups that likely make trouble have all been tied into the new project. Besides, according to Peterside, the investor would also not fold his hands in terms of security and search for peace with the community.
Peterside recalled in the interview that Landmark has huge experience in handling troubled areas, saying the place he developed in Lagos was a volatile area but he found a way to make peace with the community and created a huge environment.
Does the new Port Harcourt Tourism Beach have potentials? Sources said Port Harcourt was a Garden City which was a place of leisure, entertainment, and pleasure. Most old singers such as Rex Lawson were rooted in Port Harcourt and nightlife was huge. Soon, concrete development began chasing people out of most places and militancy took over and seemed to chase high net worth individuals away to Lekki and other cities in Nigeria. It became difficult for families to go out for fun without stick-ups. Soon, nightlife and pleasure life died.
Many administrations began to rebuilt this. Chibuike Rotimi Amaechi came with gardens and festivals. His successor killed some but built a world class centre called Pleasure Park, which is still booming to this moment. These reaffirmed that pleasure life is much desired in the Garden City, if well developed.
When a place is built at world class levels and is integrated with both water games and land games, many say it would be a gold mine.
BusinessDay gathered that the agreement provided for equity holding formula with the investor holding majority equity while the government which holds land ownership and titles has minor shares. The government would however collect lease obligations and taxes in sales tax and PAYE.
When the agreement expires, it is likely the investor would have right of first refusal in renewing the deal.
A new Tourism roadmap in Rivers?
Another big revelation is that Landmark may win a right of early comer entitlement in developing other beaches. It is an open matter that the state government has an eye on other beaches especially in the Andoni and Opobo axes especially where there are white beaches and elephant clusters with wide beaches that allow for swimming out into the Ocean. Landmark group may have many world class beaches to develop. Their closeness to the diaspora may offer global patronage and many Nigerians abroad may be attracted into investing in the beaches or visiting yearly to enjoy them.
Rivers State is said to be eyeing a blue economy takeoff and may anchor this on Tourism and beach developments. The Ogoni area is already showing the Kono beach or waterside which has outlay to Bonny route. With the Bodo-Bonny Road now open, many expect many tourist beaches and locations along the road to create a big water tourism route.
When the Rivers State Blue Economy Blueprint is out, many may find that Beach development may be a big deal, and that the N10bn Port Harcourt Landmark Beach may be the takeoff point.
Background:
Operations are scheduled to begin in time for the Yuletide season (December 2026).
Core offerings: The resort will feature leisure, hospitality, and tourism attractions including: food and beverage (F&B) offerings, land and water sports, family-centered facilities and attractions for children with economic and social impact.
The project functions as a platform for SMEs in the hospitality sector. Model: Partnership approach rather than high fixed rents.
Employment is based on previous projects (like Landmark Beach Lagos). The team expects high engagement with young people and women (previously 40% of tenants were women-owned or managed).
Phase 1 Investment: Approximately ₦2.5 billion for initial infrastructure and development. Total Projected Investment is approximately ₦10 billion as the project scales through subsequent phases.
Security and community engagement with community relations. The local “boys” and community members are being integrated as stakeholders and potential employees (artisans, performers, etc.).
The resort will have certified lifeguards and strict safety protocols for water activities to address the “fear of water” common among those from upland areas.
Government Support: The River State Government, including the Ministry of Justice and the Ministry of Tourism, has been personally involved and supportive of the negotiations.
International Appeal: “Glocal” Strategy: The team aims for a “world-class standard” combined with local flavor—a concept they call “Glocal.”
Target Audience: The resort aims to attract local residents, international tourists, and the diaspora. Landmark’s history with multinational clients (like Google, HP, and IBM) and international coverage (BBC) was cited as evidence of their ability to meet global expectations.
