AN investor in the tourism industry, Mr. Yomi Fadugba, has said that the Nigerian government has not shown enough commitment to diversification of the economy from oil to other sectors like tourism.
Fadugba, the chief executive officer (CEO) of MOYDAK Construction, Lagos, who made the assertion while speaking on how the tourism sector has fared under this government, ascribed the low income from the tourism sector to government’s insincerity in funding it adequately.
He said, “Tourism is a segment of the economy with huge potential to generate enough foreign earnings for the country. Everybody knows that, government inclusive, but it fails to act accordingly. We talk of Dubai tourism potential only when we have lectures and seminars but when it comes to practical, we shy away. Government must wake up because African countries are leaving us behind.
“When this government came to power, they promised to diversify at least into tourism, but when the budget was prepared, nothing suggests what they had earlier promised. It is true that tourism contributed 4.8 per cent to Nigeria’s Gross Domestic Product (GDP) in 2016, it can be improved upon with right investment if government gets its acts together.”
Fadugba said that the 2017 budget should have reflected what the government promised on the improved funding to tourism.