In recognition of the need to boost Nigeria’s Gross Domestic Product (GDP), the Aare Onakakanfo of Yoruba land, Iba Gani Adams, has urged both the federal and state governments of Nigeria to leverage the massive, money-spinning potential of the tourism sector.
The Vanguard reports that Adams averred that Nigeria stands to earn foreign currencies to boost its economy, encouraging the government to pay quality attention to revitalising the nation’s tourism sector instead of the nonchalance that underlines governmental efforts in the tourism sector.
Tapping the 2025 annual Olumo Festival, Adams emphasised that “if developed and well-packaged,” tourism can lure foreign investors. It can “change the narrative of the country’s unemployment status and prevent youths from engaging in social vices that have earned Nigeria a bad image among the community of nations.”
Adams stated that Nigeria has been losing substantial foreign currency revenue over the years due to the nonchalance of successive governments towards revitalising tourism. “One of the problems we are having now is insecurity. If governments can provide the enabling environment through security and reorient our youths about various activities, Nigeria has great potential in tourism to create wealth.”
Adams urged Nigeria to toe the line of other developed countries, like the United States of America and Thailand, that have, over the years, been raking in several millions of currencies to bolster their revenue-generation base. According to Adams, “Thailand receives about 40 million tourists yearly, and statistics also show that Britain gets nothing less than 35 million tourists every year. The government should understand that this is when countries are moving from mineral resources to tourism for revenue generation.”
“Tourism is a gold that you can’t earn with your eyes. You can mine gold and minerals and finish them, but tourism is a potential of the economy that you cannot finish. How you organise and package it is how you make more money because people will keep coming to that destination and you’ll be making foreign currency for the country”, Adams stated.
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Adams argued that if properly harnessed, a tourism resource like the Olumo Rock in Abeokuta has great potential to become a global tourism destination for tourists from across the world. While stressing that the 2025 edition of the Lisabi festival will contribute about N10 billion in direct and indirect revenue to the nation’s economy, Adams noted that the festival has been listed on the world map of festivals and is among Nigeria’s 10 most important festivals.
Adams further explained that the contribution of tourism spending and possible injection of FOREX into the local economy would give a needed boost to small and medium-scale businesses, which are Nigeria’s needed bulwark against economic hardship and macroeconomic exigencies.
Despite Nigeria’s immense tourism potential, enhanced by its rich cultural heritage, diverse natural landscapes, and historical landmarks, the tourism sector in Nigeria remains largely underutilised despite its capacity to significantly drive economic diversification.
Nigeria’s economy has long been overly dependent on crude oil, making it vulnerable to external shocks such as fluctuating oil prices and production disruptions. Tourism offers an alternative revenue stream that can help diversify the economy, reduce reliance on oil exports, and foster sustainable growth.
Also, tourism is one of the fastest-growing sectors globally, capable of creating both skilled and unskilled jobs. In Nigeria, the sector already employs millions and has the potential to create millions more jobs over the next decade. This can significantly reduce unemployment and underemployment levels, particularly among youth.
Plus, tourism contributes directly and indirectly to Nigeria’s GDP. For instance, in 2019, it accounted for ₦8 trillion in revenue (4.8% of GDP) and is forecasted to contribute ₦12.3 trillion by 2032, outpacing the overall economy’s growth rate. This underscores its capacity to be a major economic driver. Also, tourism has proven resilient against global shocks such as pandemics and political instability. Its sustained growth makes it a reliable sector for long-term economic stability.
As such, Nigeria needs to leverage tourism, especially for infrastructure development. Tourism investments lead to improvements in infrastructure such as roads, airports, rail systems, parks, and public spaces. These upgrades attract more visitors and enhance local communities’ quality of life.
Tourism also leads to increased private sector participation. A well-developed tourism sector attracts private investments in hospitality, real estate, and transportation services. Projects like the redevelopment of Port Harcourt Tourist Beach highlight how public-private partnerships can drive growth.0
