Wednesday, July 6, 2022
  • HOME
  • CONSUMER PERSPECTIVE
  • PERSONAL FINANCE
  • MARKETS & COMPANIES
    • APPOINTMENTS
    • COMMODITIES
    • COMPANIES
  • BUSINESS & ECONOMY
    • AGRICULTURAL ECONOMY
    • AGRO-ECONOMY
    • AVIATION
    • BRANDS
    • CONSUMER GOODS
    • ECONOMY
    • ENERGY
    • ENVIRONMENT
    • FINANCIAL INCLUSION
    • INSURANCE & PENSIONS
    • INVESTMENT
    • MANUFACTURING
    • MARITIME
    • MONEY
    • MSMEs
    • PRODUCT REVIEW
    • STARTUPS
  • CULTURAL CURRENTS
  • EMPIRE
  • CORPORATE RENDEZVOUS
Financial Street
No Result
View All Result
  • HOME
  • CONSUMER PERSPECTIVE
  • PERSONAL FINANCE
  • MARKETS & COMPANIES
    • APPOINTMENTS
    • COMMODITIES
    • COMPANIES
  • BUSINESS & ECONOMY
    • AGRICULTURAL ECONOMY
    • AGRO-ECONOMY
    • AVIATION
    • BRANDS
    • CONSUMER GOODS
    • ECONOMY
    • ENERGY
    • ENVIRONMENT
    • FINANCIAL INCLUSION
    • INSURANCE & PENSIONS
    • INVESTMENT
    • MANUFACTURING
    • MARITIME
    • MONEY
    • MSMEs
    • PRODUCT REVIEW
    • STARTUPS
  • CULTURAL CURRENTS
  • EMPIRE
  • CORPORATE RENDEZVOUS
Financial Street
No Result
View All Result

Nigeria’s tourism sector seeks N30bn, six-month moratorium

John Chukwu by John Chukwu
April 27, 2020
in Uncategorized
0
Nigeria’s tourism sector seeks N30bn, six-month moratorium
0
SHARES
164
VIEWS
Share on FacebookShare on TwitterShare on LinkedInShare on WhatsApp

Tourism operators in Nigeria are seeking N30bn stimulus and six months moratorium for all bank credits.

The travels and hospitality centres are also asking for a tax-free regime as part of post coronavirus disease intervention by the Federal Government.

READ ALSO

Nigeria to benefit from local Content in petroleum sector

Cybersecurity: All you need to know

Speaking through the National President, Institute for Tourism Professionals of Nigeria Abiodun Odusanwo, they urged the Federal Government to accord priority to the tourism industry in its economic stimulus and intervention initiatives.

Read Also:

  • Public and private sectors' role in financing climate change needs
    Public and private sectors' role in financing climate change…
  • APCON and war against false adverts
    APCON and war against false adverts
  • Nigeria to benefit from local Content in petroleum sector
    Nigeria to benefit from local Content in petroleum sector

Areas of intervention required in the sector, according to the operators, include, “grant of moratorium period for all bank facilities granted operators in the travel, hospitality and the tourism sub-sectors for a period of not less than six months; tax-free regime in the first and second quarters of this year, as part of post COVID-19 intervention”

The also demand “immediate promotion of domestic tourism as an inward strategy to boost inbound tourism due to impending dwindling fortunes of international travel bans and restrictions and financial intervention of N15.5bn for job losses, pay cuts, sustainable professional competency training for members across the country and N30bn economic stimulus to ensure transparency and inclusiveness.”

Odusanwo added that in economic terms, hotels would lose billions of naira from cancellations, as smaller hotels would stop operation because they could not afford to do so.

His words, “Unemployment will skyrocket in the sector; travel agencies and tour operators will go bankrupt; transfer companies will be economically destroyed and all forms of travels will be completely grounded.

“The labour force in the sector will suffer similar fate, as employees will be forced to take unpaid vacations and a few offered part-time works where skeletal services are offered. This is where tourism professionals, who are members of ITPN, will be in greater dilemma and at risk of confronting survival in a sector that has become comatose.”

He noted that globally, tourism and hospitality industry is badly affected by pandemics because of the nature of the business, which is always related to the travelling of people.

  • Facebook
  • Twitter
  • Pinterest
  • LinkedIn

Tags: coronavirusN30bnNigeriaTourism

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
John Chukwu

John Chukwu

Related Posts

Nigeria to benefit from local Content in petroleum sector
Energy

Nigeria to benefit from local Content in petroleum sector

July 5, 2022
Cybersecurity: All you need to know
GoDo Hub

Cybersecurity: All you need to know

July 5, 2022
climate change
ENVIRONMENT

Public and private sectors’ role in financing climate change needs

July 4, 2022
NGX index, market cap depreciates by 2.18%
Stock Market

NGX ASI appreciates by 0.24% to halt two weeks’ bearish sentiment

July 4, 2022
APCON and war against false adverts
CONSUMER PERSPECTIVE

APCON and war against false adverts

July 2, 2022
Uber Eats celebrates fourth anniversary with 5.2% growth in Kenya
INNOVATION

Uber Eats celebrates fourth anniversary with 5.2% growth in Kenya

June 28, 2022
Next Post
25m jobs at risk with airlines’ shutdown, IATA warns

Exclusive: COVID-19 wreaks bleak future for Nigerian airlines


Naira4Dollar Rates
ADVERTISEMENT

RECENT STORIES

Nigeria to benefit from local Content in petroleum sector

Nigeria to benefit from local Content in petroleum sector

July 5, 2022
Cybersecurity: All you need to know

Cybersecurity: All you need to know

July 5, 2022
climate change

Public and private sectors’ role in financing climate change needs

July 4, 2022
NGX index, market cap depreciates by 2.18%

NGX ASI appreciates by 0.24% to halt two weeks’ bearish sentiment

July 4, 2022
APCON and war against false adverts

APCON and war against false adverts

July 2, 2022
Uber Eats celebrates fourth anniversary with 5.2% growth in Kenya

Uber Eats celebrates fourth anniversary with 5.2% growth in Kenya

June 28, 2022
Role of coop in tech startups empowerment

Role of coop in tech startups empowerment

June 28, 2022

TRENDING

  • 40 Nigerian students to get Nexford, Piggyvest scholarships

    40 Nigerian students to get Nexford, Piggyvest scholarships

    0 shares
    Share 0 Tweet 0
  • Uber Eats celebrates fourth anniversary with 5.2% growth in Kenya

    2 shares
    Share 0 Tweet 0
  • APCON and war against false adverts

    0 shares
    Share 0 Tweet 0
  • Public and private sectors’ role in financing climate change needs

    2 shares
    Share 0 Tweet 0
  • Duty call as Anambra Governor

    0 shares
    Share 0 Tweet 0
Financial Street

© Financial Street 2021. All Rights Reserved.

More Links

  • Privacy Policy
  • Terms of Use
  • Contact Us

Follow Us

No Result
View All Result
  • HOME
  • CONSUMER PERSPECTIVE
  • PERSONAL FINANCE
  • MARKETS & COMPANIES
    • APPOINTMENTS
    • COMMODITIES
    • COMPANIES
  • BUSINESS & ECONOMY
    • AGRICULTURAL ECONOMY
    • AGRO-ECONOMY
    • AVIATION
    • BRANDS
    • CONSUMER GOODS
    • ECONOMY
    • ENERGY
    • ENVIRONMENT
    • FINANCIAL INCLUSION
    • INSURANCE & PENSIONS
    • INVESTMENT
    • MANUFACTURING
    • MARITIME
    • MONEY
    • MSMEs
    • PRODUCT REVIEW
    • STARTUPS
  • CULTURAL CURRENTS
  • EMPIRE
  • CORPORATE RENDEZVOUS
Posting....