By Kingsley Adegboye

A real estate and development expert, Uche Emmanuel Chinonso, has called for strategic collaboration between the real estate and tourism/hospitality industries in Nigeria to unlock economic and employment opportunities.

Chinonso, in a recent industry paper, highlighted that the tourism and hospitality sector heavily relies on quality real estate infrastructure—such as hotels, resorts, serviced apartments, cultural parks, and convention centers—to thrive. He stated that with the increasing demand for travel, leisure, and business tourism in Nigeria, both sectors can serve as powerful engines for economic growth if properly aligned.

According to him, “If properly harnessed, the synergy between these sectors can become a powerful driver of economic growth and job creation, especially among youth and local communities. Yet, this cannot happen without deliberate planning, policy integration, and investment reform.”

He, however, pointed out that several structural and institutional challenges continue to impede growth in both sectors.

Among the challenges identified are fragmented planning between real estate and tourism development agencies, poor infrastructure in tourism-prone areas, outdated zoning laws, high cost of land acquisition, limited access to market data, and weak legal frameworks that discourage investment in tourism-related real estate.

“The disconnect between tourism strategies and urban planning leads to missed investment opportunities and inefficient development,” Chinonso noted.

He recommended several strategic interventions to bridge the gap, including integrated development planning, public-private partnerships (PPPs), and the creation of tourism-focused Real Estate Investment Trusts (REITs) to mobilize capital for hospitality infrastructure.

Chinonso also emphasized the importance of data sharing through a centralized platform managed by institutions such as the Nigerian Tourism Development Corporation (NTDC) and National Bureau of Statistics (NBS), to provide reliable insights into visitor trends, investment returns, and occupancy rates.

He proposed that real estate firms work hand in hand with state governments and tourism boards to design destination infrastructure that combines environmental sustainability with digital and transport systems.

Additionally, he called for capacity building and skills training programs in hospitality-related areas to ensure that tourism developments lead to meaningful local employment.

If these collaborations are implemented effectively, Chinonso said Nigeria stands to benefit from increased domestic and foreign investment in tourism-focused real estate, enhanced service standards, and expanded economic inclusion, particularly in rural and underdeveloped regions.

“This kind of synergy will not only strengthen non-oil contributions to Nigeria’s GDP but also help position the country as a competitive tourism destination in Africa,” he said.

He urged policymakers, investors, and industry stakeholders to foster a shared vision that prioritizes inclusive growth, long-term sustainability, and innovative investment approaches across both sectors.