Nigeria Declares Readiness for Tourism Investment as NIHOTOUR Strengthens Sector Reforms

The Federal Government has formally declared Nigeria open and fully prepared for large-scale tourism investment. Authorities have expressed strong confidence that the tourism sector possesses the capacity to serve as a major engine for economic growth and a viable alternative to the country’s reliance on oil revenue.

This assurance was given on November 24 by Abisoye Fagade, Director General of the National Institute for Hospitality and Tourism (NIHOTOUR), during the maiden Style de Vie Pan-African Partnership and Investment Networking event held in Abuja over the weekend.

Addressing a gathering of African diplomats and investors, Fagade emphasised that the Nigerian government was prioritising critical reforms. These changes are designed to make the tourism landscape attractive, profitable, and globally competitive.

Reassuring stakeholders about the business climate, Fagade stated:

“It’s important to let the world know that Nigeria is ready to do business, especially in tourism, and Nigeria is safe to do deals.”

He pointed out that we should view the sector’s existing challenges as distinct opportunities for growth and high returns on investment.

The Director General likened tourism to “a social bitcoin,” encouraging investors to secure early positions in Nigeria’s underdeveloped market. He highlighted the massive revenue and employment potential across the country, pointing to diverse opportunities ranging from safaris and hiking to agri-tourism.

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Fagade explained that NIHOTOUR is currently restructuring the tourism and hospitality value chain to standardise operations and enhance visitor experiences.

“For over 38 years of NIHOTOUR, we realised the sector cannot grow without organising ourselves. Experience drives repeat purchases, which in turn drive tourism. Every tourist encounter impacts the image of the country,” he noted.

Under his leadership, the agency has reportedly achieved a revenue increase of over 300 per cent in a single year. This growth was attributed not just to direct earnings but to value-added services and capacity development.

Fagade argued that a well-organised tourism industry would strengthen employment and boost demand in related sectors, particularly agriculture (for local food and beverage production) and cultural exchange.

While acknowledging current infrastructure gaps, such as limited recreational spaces in cities like Abuja, he stressed that fixing tourism requires a collective commitment from all levels of government, not just NIHOTOUR. The goal is to shift the public perception of tourism from a “fallback option” to a serious, full-time business venture.

Rebecca Tabe, Creative Director of Style de Vie, described the event as a strategic bridge between diplomats and investors, offering a trusted channel for business matchmaking across the continent.

“This is a platform to ensure that investment actually happens in Africa. Instead of travelling to different countries, Sté de Vie brings the entire continent to you in one place,” she explained.

Tabe announced that the event will be held annually, rotating across various African nations with backing from key partners such as the Presidency, the Federal Inland Revenue Service (FIRS), NIHOTOUR, and the Ministry of Foreign Affairs.

Strengthening the call for partnership, Mohsen Antiet, the Tunisian envoy to Nigeria, disclosed that Tunisia and Nigeria are deepening their collaboration, specifically in medical tourism. He highlighted Tunisia’s high-quality, affordable healthcare and revealed ongoing efforts to introduce direct flights between the two nations to ease travel and bolster economic ties.

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Frequently Asked Questions (FAQs)

Who is leading the push for tourism investment in Nigeria? 

The Federal Government champions the initiative through the National Institute for Hospitality and Tourism (NIHOTOUR), under the leadership of Director General Abisoye Fagade.

What is the “Style de Vie” event? 

It is a Pan-African Partnership and Investment Networking platform designed to connect diplomats and investors to facilitate business across African countries.

How has NIHOTOUR performed recently? 

According to the DG, the agency has increased its revenue generation by over 300% in the past year through value-added services and capacity development.

What specific area of collaboration was mentioned between Nigeria and Tunisia? 

The two countries are collaborating on medical tourism, with plans to introduce direct flights to facilitate access to Tunisia’s healthcare sector.

Why does the government consider tourism a “social bitcoin”?

The term is used to describe the high value and future growth potential of the sector. The government believes early investors will reap significant rewards as the industry develops, much like early cryptocurrency adopters.