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Nigeria: new incentives to attract tourism investment

unwto tourism Nigeria

The Nigerian Government has announced a package of incentives to boost tourism projects and attract investment.

Some of the initiatives include granting special status to all major tourism projects as well as minimum tariffs on imported tourism and amusement park equipment and materials for the construction and furnishing of hotels.

There will be a scheme to provide work permits for foreign workers with specialised skills within the industry, and concessionary rates on land for tourism investors.

In addition, President Muhammadu Buhari announced that the country’s intellectual property laws are under review to provide increased protection for investors from the creative industries.

In a report in the Daily Nigerian President Buhari is quoted as saying, “I call on tourists and investors in the tourism sector to consider Nigeria as their second home. This government has attractive investment incentives for investors in the tourism sector.”

The announcement was made at the 61st meeting of United Nations World Tourism Organization (UNWTO), Commission for Africa.  The theme of the 2018 meeting was “Tourism Statistics: A Catalyst for Development”.

Tourism is seen as being a key industry for Nigeria’s future.  President Buhari added, “On our part, as a country, we are doing everything possible to move the Tourism Sector into the mainstream of the economy.

“Realizing that modern infrastructure is critical to tourism development, we are investing heavily in the development of infrastructure.”

Tourism: Buhari woos investors, rolls out investment incentives

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Rachel Reed

Rachel Read

Rachel is Finance Director. She has a degree in engineering from Cambridge University and qualified as a Chartered Accountant at Deloittes in London. She worked in finance in industry for twenty years. She oversees our news and also manages our events.

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