Eko Tourism Foundation Debuts, Promising Investment Opportunities and Jobs

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The Eko Tourism Foundation (ETF), an initiative of the Lagos Chamber of Commerce and Industry (LCCI), aims to harness the potential of tourism to drive Nigeria’s economic growth and create millions of job opportunities. 

The foundation highlighted that the tourism sector currently supports 10 to 15 million jobs nationwide and contributes 3.6% to Nigeria’s GDP, equivalent to over $17.3 billion in 2022, positioning it as a viable alternative to the nation’s oil-dependent economy.

During the unveiling of the foundation and the inauguration of its governing board in Lagos, Lai Mohammed, Chairman of ETF’s Board of Trustees and Governing Council, outlined the foundation’s objectives. He emphasised that the ETF aims to create an inclusive platform for government, private sector, and tourism stakeholders, serving as the industry’s policy advocacy voice. 

The foundation also aims to position Lagos as a premier destination for global tour operators while leading the international marketing of Lagos and Nigeria as top tourism destinations.

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Mohammed noted that tourism is a powerful global driver of economic growth, citing World Travel and Tourism Council data projecting Nigeria’s tourism sector to grow by 5.4% annually from 2023 to 2030. This growth is expected to generate 2.6 million new jobs and contribute an additional $5.58 billion in revenue. 

He emphasised that fragmented efforts and inconsistent advocacy have long hampered the tourism industry. The ETF aims to unify the sector, engage constructively with the government, attract investments, and foster job creation. Key strategic initiatives include attracting investments, promoting human capital development, and organising annual festivals to engage and inspire future generations.

Describing ETF as a transformative initiative to establish Lagos as Africa’s leading tourism destination, he sought the cooperation of all Nigerians to unlock the industry’s potential, saying, “Together, let us make Lagos not just a commercial hub, but the tourism capital of Africa.”

Gabriel Idahosa, President of the LCCI and a founding figure of the ETF, shared the vision of positioning Lagos among the top 10 global tourism destinations. The Board of Trustees includes leaders such as Erelu Dosunmu, Dr Nike Okundaye, Dr Yemisi Shyllon, Karl Hala, Dr Iyadunni Gbadebo, and Dr Tunde Lawrenson. Mohammed urged Nigerians to collaborate towards realising the full potential of the tourism industry.

At Rex Clarke Adventures, stories like the one about the Eko Tourism Foundation debut are absolutely vital to the development of tourism in Nigeria. Join us on this journey of discovery. Explore more stories of Nigeria and Africa’s rich tourism, traditions, and diverse landscapes on our blog.

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Frequently Asked Questions (FAQs) and Answers

What is the Eko Tourism Foundation (ETF)?

The Eko Tourism Foundation is an initiative by the Lagos Chamber of Commerce and Industry (LCCI) aimed at promoting tourism in Lagos and Nigeria, fostering economic growth, and creating millions of job opportunities through strategic initiatives and advocacy.

What are the goals of the Eko Tourism Foundation?  

The ETF seeks to position Lagos as a leading global tourism destination, create an inclusive platform for tourism stakeholders, advocate for supportive policies, attract investments, and drive sustainable job creation in Nigeria’s tourism sector.

How does tourism currently contribute to Nigeria’s economy? 

In 2022, tourism contributed 3.6% to Nigeria’s GDP, equivalent to over $17.3 billion, and supported 10 to 15 million jobs nationwide, making it a significant economic driver.

What growth is expected for Nigeria’s tourism sector? 

According to the World Travel and Tourism Council, Nigeria’s tourism sector is projected to grow by 5.4% annually from 2023 to 2030, creating 2.6 million new jobs and adding $5.58 billion in revenue.

How will the ETF achieve its objectives?

The ETF plans to achieve its goals through initiatives such as attracting investments, promoting human capital development, organising annual festivals, and fostering collaboration among government, private sector, and tourism stakeholders.

Who are the key figures involved in the Eko Tourism Foundation?

Lai Mohammed, Chairman of the Board of Trustees, leads the ETF, with Gabriel Idahosa, President of the LCCI, serving as a founding figure. The Board of Trustees includes Erelu Dosunmu, Dr Nike Okundaye, Dr Yemisi Shyllon, Karl Hala, Dr Iyadunni Gbadebo, and Dr Tunde Lawrenson.

Why is Lagos the focus of the ETF’s tourism efforts?

Lagos is targeted due to its potential to become a global tourism hub, leveraging its vibrant culture, infrastructure, and economic significance to drive Nigeria’s tourism growth and establish it as Africa’s tourism capital.

How can Nigerians contribute to the ETF’s vision?

Nigerians can support the ETF by collaborating with the foundation, participating in tourism initiatives, and promoting Lagos and Nigeria as attractive destinations for both local and international tourists.