Business
Association Tasks FG On Tourism Intervention Fund
Mr, Tomi Akingbogun, Deputy President of the Federation of Tourism Association of Nigeria, has appealed to the Federal Government to release modalities on how the approved tourism intervention fund would be generated.
Akingbogun made the call on Saturday in an interview with the newsmen in Abuja.
He said that just like intervention funds stabilised the banking industry and other sectors, the tourism fund would strengthen the tourism sector.
“We don’t know how the fund would be generated and managed or if it is through the banks or if it would be in form of loan, government should work out the modalities.
“All we need is affordable loans and long-term loans for long term investments, the short term loans is killing the tourism industry,’’ Akingbogun said.
He said the association hoped the intervention fund would not be in form of taxes on guests lodging in hotels.
Akingbogun said that tourism could reduce the rate of unemployment and contribute to economic development of the country if the potential in the sector was fully harnessed.
“Tourism is all about life, we patronise musicians, painters, artists and even the DSTV.
“It is important that special look should be taken at the tourism intervention fund to push the tourism sector forward,’’ he said.
Akingbogun called on government to work out modalities as most hotel owners had collaterals to enable them access the fund.
The Tide source recalls that in January, the Minister of Tourism, Culture and National Orientation, Mr Edem Duke, said that 70 per cent of the tourism fund would be allocated to visual art, provision of tourism infrastructure and a percentage to the development of tourism product and training.