Business
Hospitality Industry Tasks FG On Security, Infrastructure
Stakeholders in the hospitality industry have urged the Federal Government to improve security and infrastructure in the country to boost economic growth.
The stakeholders made the call during the Hospitality Industry Conference last Saturday in Lagos.
Managing Director, Six Regions Hotels Ltd., Mr Emmanuel Ele said the country’s environment must be safe and secured with quality infrastructure to boost the growth of hospitality business.
“In a year, we all know what tourism can add to the economy in terms of GDP, but tourism cannot go without its sister, hospitality.
“We need the government to support us so that the hospitality business can expand more.
“Make the country safer so that visitors coming into the country and the locals can move around the country without fear of attack or kidnap,” he said.
He urged the Federal Government to improve infrastructure, especially energy and the road network.
He added that inadequacy of electricity and bad roads in some parts of the country had crippled the operations of some hotels.
“The amount spent on energy will amaze you. I am not talking about multinational hotels but local hotels.
“In a 50-bedroom hotel, we run 50-litres of diesel overnight and 50-litres during the day, if there is no electricity.
“If you add the cost of diesel to other costs, that is a lot, and it is affecting our profit and the sustainability of the industry,” he said.
He also urged the government to address issues of illiquidity in the economy, which he said had affected consumer spending and patronage of the hospitality business.
Mrs Moyo Okusanya, Director, Marketing, Marriot International Hotels, said an enabling environment would make it easier for operators to market the potential of the
country and also thrive.
Similarly, Mrs Yvonne Mordi, Executive Manager, 2wenty2 Hospitality and Allied Services Ltd., said the industry required more of government participation to grow.
“We know that government is trying to bring the travelling and tourism sector into shape, and we believe they can do more for the hospitality sector too.
“The hospitality sector is very wide, we have more than 13 sub-sectors in the industry, including hotels, restaurants, food and beverages, airlines, bars, resort centre and others.
“We know that government’s participation will strengthen the activities of the industry to do more,” she said.
Mordi, who is the convener of the conference, said the programme intended to provide a rich platform for growth, development, network and the need to hone the right skills set among hospitality operators.
“The hospitality industry has not been above board, especially in the last decade, as it has suffered in the hands of unskilled operators who lack the requisite skills to deliver excellent services,” she said.
She said through the conference, partnerships and mentoring opportunity would be forged to enhance the growth of the industry and economy.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.
