The Ajia Balogun Olubadan, Oloye Adegboyega Adegoke, Saturday advised the federal government to diversify Nigeria’s economy into the hospitality and tourism sectors.
Oloye Adegoke gave the advice in Ibadan while speaking with journalists after the commissioning of his new hospitality edifice, Channel 8 Premium hotel by the former governor of Oyo state and the Osi Olubadan of Ibadanland, High Chief Rashidi Ladoja.
He pointed out that diversification of Nigeria’s economy from oil to other sectors will go a long way in reducing the present high rate of unemployment in Nigeria.
The Ajia Balogun Olubadan emphasised the fact that the time has come for government at all levels to diversify into hospitality and tourism sector for improved economic growth and development and that there is the need for government to show more commitment into improving the sector in order to tap inherent benefits from it.
He stated that there is an urgent need for Nigerian government at all levels to develop the nation’s huge hospitality and tourism potentials for economic development. He described hospitality and tourism as goldmine waiting to be tapped and stated that it is high time for government to diversify from petroleum to hospitality and tourism, which is the sole source of economy of some great nations.
“The commissioning of this hospitality edifice is a demonstration of what we are preaching, I am into oil and gas, but to demonstrate that we are serious about diversification, that is what we are doing today.
“So, government at all levels should explore all the potentials in hospitality and tourism for economic development and growth”, he said.
Oloye Adegoke added, “Hospitality and tourism is a multifaceted and multidimensional activity. It is not just about fun, it is business and government should look at the business aspect. It makes more money than most other industries. Saudi Arabia has more oil than Nigeria, but what Saudi gets from ‘religious tourism’ is unquantifiable.
“I have been to China, there is a place called Old City where their emperor used to stay, they have turned it around and they make huge money from it. Also, Dubai’s economy depends on hospitality and these countries are doing better than Nigeria. I want us to join hands to improve and invest in hospitality and tourism because oil is drying up. Nigeria is rich in tourism sector that can yield good return on investment.”
