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🇳🇬 Nigeria /Economy & Trade

Nigeria's Hospitality Sector Needs Investment, Innovative Financing, Stakeholders Say

From ThisDay · () English

Translated from English, summarized and contextualized by DistantNews.

At a glance

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  • Nigerian tourism and hospitality stakeholders urged more investment and public-private partnerships to boost the sector.
  • The call came at the Punuka Annual Lecture in Lagos, focusing on financing and value creation.
  • Officials reaffirmed government commitment to strengthening tourism for economic diversification.

Stakeholders in Nigeria's tourism and hospitality sector are calling for increased investment and innovative financing models to unlock the industry's economic potential. The discussions took place at the 2026 Punuka Annual Lecture in Lagos, themed "Development, Financing and Value Creation in Nigeria’s Hospitality Sector."

The hospitality industry remains a critical driver of economic growth, job creation and tourism development, adding that unlocking its full potential would require deliberate efforts to improve access to financing and create an enabling business environment.

— Ian McAuleyDelivering the Keynote Lecture at the Punuka Annual Lecture, discussing opportunities and challenges in Nigeria's hospitality industry.

Keynote speaker Ian McAuley highlighted the need for strategic investments, improved infrastructure, and attractive policies for both local and foreign investors. He emphasized that the hospitality industry is a critical driver of economic growth and job creation, requiring deliberate efforts to enhance financing access and foster an enabling business environment.

Event chairman Tein George stressed the importance of sustained collaboration between government agencies, investors, and industry operators. Special Guest of Honour Hannatu Musawa, represented by Abisoye Ayoyinka Fagade, reiterated the Federal Government's dedication to bolstering tourism and hospitality as pillars of economic diversification. Initiatives are underway to improve industry standards, build capacity, and attract investment.

underscored the importance of sustained collaboration among government agencies, investors and industry operators, in advancing the growth of the sector and enhancing its contribution to national development.

— Tein GeorgeChairman of the event, emphasizing the need for collaboration at the Punuka Annual Lecture.

Participants expressed optimism about the sector's future, believing that effective financing structures, policy consistency, and value-driven investments are essential for positioning Nigeria as a leading African tourism destination.

reaffirmed the Federal Government’s commitment to strengthening tourism and hospitality as key pillars of economic diversification.

— Hannatu MusawaSpecial Guest of Honour at the Punuka Annual Lecture, represented by Abisoye Ayoyinka Fagade.
DistantNews Editorial

Originally published by ThisDay in English. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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