Professionals seek N30b stimulus for tourism sector


  • Propose tax waiver, bank grant moratorium for six months



The Institute for Tourism Professionals of Nigeria (ITPN) has urged the Federal Government to accord priority and prime attention to the tourism industry in all its economic stimulus, palliative and intervention initiatives to cushion as well as bring productive stability in the national economy that has suffered summersault due to the Covid-19 global pandemic.

In a statement made available to Woleshadarenews, the National President of the Institute, Chief Abiodun Odusanwo noted that the tourism sector is the hardest hit in the current global Covid-19 pandemic because of the multi varying nature and economic activities of the sector that entails movement of people and services.

He added that these activities have been completely hampered by the restrictions placed on the movement of people and lockdown of most parts of the country.

‘Worldwide generally, tourism and hospitality industry is very badly affected by pandemics because of the nature of the business which is always related to the travelling of people.

READ ALSO:  Airlines risk NCAA sanction, Arik denies N12.8B debt

He noted that history has shown that epidemics and pandemics have an immediate impact on the hotels and restaurants, airlines industries, travel agencies, etc. due to the international travel restrictions and government measures of imposing lockdowns’.

Odusanwo observed that what the tourism sector is currently witnessing are travel restrictions and recommendations leading to outright cancellations of travel and accommodation bookings, stressing that as long as the pandemic lasts, the impact on tourism would be irreversible leading to a myriad of operational challenges and losses.




Odusanwo said in economic terms, hotels will lose billions of Naiara from cancellations; smaller hotels will stop operation because they can’t afford to do so; unemployment will skyrocket in the sector; travel agencies and tour operators will go bankrupt; transfer companies will be economically be destroyed and all forms of travels will be completely grounded.

READ ALSO:  FG to cut airlines’ 30 taxes, charges as carriers groan

The labour force in the sector will suffer similar fate as employees will be forced to take unpaid leaves 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 risks of confronting survival in a sector that has become comatose.

Chief Odusanwo enumerated areas of intervention required in the sector to 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 year 2020 as part of post Covid-19 intervention; 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 N15.5 billion for job losses, pay cuts, sustainable professional competency training for members across the country and N30 billion economic stimulus for the sector.

READ ALSO:  Nigerian aviation in dire straits, experts warn of imminent collapse

For the purpose of ensuring transparency and inclusiveness, the ITPN President posited that members of ITPN be involved to actively participate in the intervention measures and fund disbursement processes, saying that the Institute is readily disposed to galvanize the inputs of all sub-sectorial key players and critical stakeholders in terms of figures and statistical data for a holistic inclusion of all to benefit from the intervention and palliative measures.


The downside economic impacts of Covid-19 globally, he reiterated has necessitated various governments at all levels to initiate palliative and intervention measures to cushion the groaning impacts of the pandemic on individual citizens and operating multi-sectorial economics and businesses.

Wole Shadare