Finance

Lagos State Government Gives ₦1 Billion Loan

Lagos State government Gives ₦1 Billion Loan
Lagos State Government Gives ₦1 Billion Loan.

The loans were meant to be seed capital to assist drive new growth within the sector within the state.

The Lagos government gave loans totalling ₦1 billion to some tourism and hospitality sector practitioners within the state on Thursday.

The loans were meant to be seed capital to assist drive new growth within the sector within the state.

The press agency of Nigeria (NAN) reports that presentation of the loans to beneficiaries was held at the maiden edition of the Lagos Tourism, Hospitality, Arts and Culture economic summit.
The summit was organised by the Lagos State chapter of the Federation of Tourism Associations of Nigeria (FTAN) together with the state’s Ministry of Tourism, Arts and Culture.

Governor Babajide Sanwo-Olu had earlier approved the loans as seed capital for the revival of the tourism and hospitality sector and to cushion the effect of the COVID-19 pandemic on practitioners.

Secretary to Lagos government , Folashade Jaji, who represented Mr Sanwo-Olu at the occasion, noted that tourism and recreation contribute approximately 6 per cent to the GDP.

She said opportunities for growth which might be strengthened through collaborations between the general public and personal sectors still teem in the hospitality industry.

She assured members of FTAN that government would still leverage on meaningful partnership with the private sector towards achieving “A Greater Lagos’’ which the governor promised residents of the state.

She said the govt had put in situ policies and methods that might enhance the opportunities available to advance the state’s tourism potentials.

Mrs Jaji also said efforts were being put in situ to get more tourism sites and also bring existing ones to international standards.

“The synergy between government and personal sector investors and entrepreneurs will ensure a gentle and sustainable growth of the tourism and recreation sector in Lagos State.

“Opportunities are available for personal investor entrepreneurs to develop tourism sites.

“It is my privilege to tell you that UNESCO has certified Sungbo Eredo within the Epe Division as a World Heritage Site which may be developed to spice up tourism potentials in Lagos State,’’ she said.

Mrs Jaji said the government had secured 100 hectares of land to determine a movie city within the state.

She urged FTAN to leverage on the platform provided by the summit to advance the tourism sector by arising with strategies that might enhance the event of Lagos State tourism.

She also called on FTAN to supply a guide the way to domesticate tourism sites within the state and convey them to international standard.

The governor’s representative also said that with the support of main actors within the sector, government’s aim of creating Lagos State the primary to be reckoned with in tourism and recreation was achievable.

The theme of the summit was: “Public Private Partnership for Sustainable Growth of the Tourism, Arts and Culture Industry for a Greater Lagos’’.

Earlier in her remarks, Uzamat Akinbile-Yussuf, commissioner for tourism, arts and culture, said the government had approved a 50 per cent rebate for practitioners within the payment of their operating license fees for year 2020.

Mrs Akinbile-Yussuf said that might help in promoting synergy with the stakeholders.

She said the presentation of cheques to the loan beneficiaries showed that the initiative was real, transparent and sincere on the a part of the ministry.

The commissioner explained that applicants for the loan could receive up to N30 million counting on the character of the organisation applying for the loan, adding that a special desk would be created within the ministry to attend to issues concerning the loan.

Responding, Gbenga Sunmonu, coordinator, FTAN, Lagos chapter, assured that the association would re-double its efforts to extend contributions to the state’s GDP.

He said it might also create and recreate wealth through promotion of domestic tourism and creation of volunteers for various aspects of tourism.

Mr Sunmonu explained that the summit, which focused on public-private partnership, opened discussion in areas of concerns for stakeholders with the intention of reviewing issues raised toward improving the convenience of doing business within the state.

NAN reports that a number of the stakeholders who spoke at the summit also advocated strong public private partnership as a needed synergy that might means investments into the world and aid rapid development of key tourism sites within the state.

The stakeholders comprised hotel owners, tour operators, tour guides and investors. (NAN)


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