Connect with us

General News

How Nigeria’s Hospitality Industry can Leverage the Entertainment Sector

Published

on

Kindly share this post

By Adeniyi Ogunfowoke,PR Associate Jumia Travel

 

Hospitality has so many branches which include but not limited to music and film. To present a total hospitality package to tourists and visitors, these two must be aligned.

 

In Nigeria, you can arguably posit that there is yet to be a synergy between the hospitality and entertainment industry. This is a minus for both industries because the country is losing out from a major revenue loop. Although both sectors can exist independently, it will do the economy a whole lot of good if they synergise.

 

Let’s give more credence to this. According to Nigeria’s Hospitality Report, Travel and Tourism was directly responsible for 1.9% (N2.3 billion in actual numbers) of the country’s total GDP in 2017.

 

Meanwhile, a report in the Vanguard Newspaper reveals that the entertainment and creative sector contributed 2.3 per cent which was approximately N239 billion to the nation’s Gross Domestic Product, GDP in 2016. Definitely, the numbers would have increased in 2017.

 

You can only imagine how much the Nigerian government will earn if both industries are synergised. In fact, more than the above-referenced figures can be earned if the government and stakeholders explore the endless gains of the hospitality and entertainment industry.
Nigeria’s Entertainment Industry

 

The entertainment industry has grown by leaps and bounds. Unlike in the past when Nigerians have the knack for foreign films and music, the opposite is the case now. They have embraced Nigerian films and music. The likes of Rita Dominic, Genevieve Nnaji, Pete Edochie, Funke Akindele, Wizkid, Olamide, and Davido et al are known all over the world including African countries. They are also celebrated in the country. Hence, they are ‘tools’ that can be used to push the Nigerian hospitality industry.

 

Interestingly, the government has recognised that the creative industry has a huge goldmine and has supported the industry with several grants.

 

In 2013, the government then established N200 billion (or about $1.2 billion) intervention fund for the entertainment industry. Last year, the federal government again supported the Nigerian film industry with N420m grant.

 

The government support has largely boosted the entertainment industry. You can observe this in the quality of videos and songs emerging from the country.
The Hospitality industry

 

There has really been no reported grant or fund for the hospitality industry unlike what is happening in entertainment. This is probably why the industry is laid back.

 

When you talk about hospitality in Nigeria, we mostly look at it from the perspective of hotels and tourist attractions-which need government attention. It is beyond this. There is food, flight, festivals, culture, film, music and much more.

 

The industry has infinite opportunities that only being explored by a few stakeholders and government interest is limited.

 

Again, quoting the Nigeria Hospitality report, the number of direct jobs created by the sector peaked at 1.2 million compared to 651,000 in 2016 (1.6%), that’s 1.8% of total employment in the country. This is estimated to rise by 4.7% by end of 2018 to approximately 1.3 million jobs (1.8% of total employment). If the government could invest in the hospitality industry, these figures will definitely increase.
How the hospitality industry can leverage the entertainment sector

 

Since entertainment is getting more attention from the government, it can be said that the hospitality industry will have to leverage on entertainment for the purpose of business and earn more revenue.

 

This said it is not rocket science to synergise both sectors to earn more revenue.

 

Artists and producers must recognise that there are beautiful, pleasant and awesome Nigerian destinations where they can shoot their videos. For example, we have the Obudu Cattle Ranch, the Kajuru Castle, Olumirin Waterfalls and a host of others. They do not need to visit South Africa or Dubai to shoot their movies. The more these destinations get celebrity endorsements, the more Nigerians will be interested in checking out these destinations and of course, these destinations can earn more revenue.

 

Furthermore, hospitality stakeholders should partner with artists so that they can endorse their hospitality spots. They do not need to pay the artists cash but they can compensate them in kind. For example, whenever, they have shows or performances, they can provide a certain number of rooms to the artistes and his backroom staff. This will translate to more bookings for the hotel.

 

Finally, the Nigerian tourist spots need dire attention. So, these artists can organise shows and performances at these spots. The more performances at these tourists attractions, the more they feature prominently in the media. Since the media sets the agenda, the condition of these destinations will be known to the government. They can now, in turn, develop these destinations.
Conclusion

 

Entertainment and Hospitality can contribute more than it is currently doing to Nigeria’s Gross Domestic Product. That is if it is synergised. The government have a key role to play. They have to also give the grant to the hospitality sector. However, because hospitality is yet to have the influence or impact that entertainment has, the former can leverage on the later to more revenue.


Kindly share this post

Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

General News

EFCC Detains Ayeni, Ex-Skye Bank Chairman over Alleged N36.5Bn, $30m Fraud

Published

on

Kindly share this post

Economic and Financial Crimes Commission (EFCC), has detained Tunde Ayeni, former chairman of defunct Skye Bank Plc, for alleged fraud involving N36.5 billion and $30 million.

EFCC Detains Ayeni, Ex-Skye Bank Chairman over Alleged N36.5Bn, $30m Fraud

Tunde Ayeni, former chairman of defunct Skye Bank Plc,

This follows the probe of alleged diversion of N36.5 billion and $30 million secured as loans from Polaris Bank Plc through companies linked to Ayeni.

He was arrested by EFCC operatives in Abuja on April 23, 2026, and is still been held in custody as at the time of filling the report.

Dele Oyewale, spokesperson, EFCC, confirmed the arrest on Friday but declined to provide further details.

Ayeni is under investigation for diverting funds obtained for marine security, electricity distribution, and real estate projects into other unknown projects.

Investigators allege the loans were instead channelled into telecom investments tied to NITEL/MTEL assets via a NATCOM account.

About 12 firms believed to be connected to Ayeni are also under investigation for their role in securing the loans.

The EFCC is expected to file charges once the investigation is concluded.


Kindly share this post
Continue Reading

General News

Summit Factory Opens in Ogun, Targets Hygiene Market Expansion

Published

on

L-r: Sadiq Ali, General Manager, Summit Household Solutions Limited; Oba Abdulakeem Odunaro, Onikotun of Otun, Ota; Hon. Wasiu Adewale Lawal (FCA), Executive Chairman of Ado-Odo/Ota LGA; Mr Kehinde Akintomide, Permanent Secretary, Ministry of Commerce, Trade and Investment, Ogun State; and Mojeed Maaradesa, Manufacturing Manager, during the commissioning of the ultra-modern factory by Summit Household Solutions Limited in Ota on Thursday.
Kindly share this post

Summit Household Solutions Limited has opened its ultra-modern manufacturing facility in Ota, Ogun State, as part of its efforts to scale production of home and personal care products in Nigeria.

The plant, which started operations in April 2025, produces items such as dishwashing liquids, handwash, sanitisers and multipurpose liquid soaps, with an annual capacity estimated at 7,000 tonnes.

Commissioning the facility on behalf of Governor Dapo Abiodun, the Permanent Secretary, Ministry of Commerce, Trade and Investment, Mr Kehinde Akintomide, said the investment reflects growing confidence in Ogun State’s business environment.

He noted that the state hosts over 6,000 manufacturing firms and described the development as consistent with ongoing efforts to promote industrialisation, attract investment and reduce reliance on imports under the Federal Government’s Renewed Hope initiative.

Akintomide disclosed that the factory has already employed more than 50 Nigerians, with projections to exceed 250 jobs as operations expand.

In his remarks, the General Manager of the company, Mr Sadiq Ali, said the facility represents a major step in Summit’s growth plans, adding that its flagship brand, 2Sure, currently leads production at the plant.

He also revealed that the company is preparing to introduce new home and personal care products later this year.

Summit Household Solutions manufactures the 2Sure brand and has expanded into the personal care segment with Lewar, a premium beauty soap line positioned for quality and affordability.

Among dignitaries present were the Onikotun of Otun, Ota, Oba Abdulakeem Odunaro, representing the Olota of Ota, Prof. Adeyemi Abdulkabir Obalanlege; the Agba Akin of Ota, Chief Dada Olusola; Director of Investment, Ms Yemisi Folarin; Director of Industrial Promotion, Mr Femi Adeboye; former Managing Director of 7Up Bottling Company, Mr Ziad Maalouf; and the Chief Executive Officer of OmniRetail, Mr Deepanker Rustagi.

Speaking at the event, Maalouf, who conceived the 2Sure brand during his time at 7Up Bottling Company, expressed satisfaction with its growth and commended Summit Solutions Limited for advancing the brand.

The special guests were conducted around the facility, and the programme was concluded with a luncheon.

 


Kindly share this post
Continue Reading

General News

US Freezes $344m in Crypto Linked to Iran in Major Crackdown

Published

on

Kindly share this post

The administration of Donald Trump has frozen $344 million in cryptocurrency allegedly linked to Iran, marking a sharp escalation in financial pressure on Tehran.

US Freezes $344m in Crypto Linked to Iran in Major Crackdown

The move comes amid stalled diplomatic efforts and a fragile ceasefire in the region.

U.S. Treasury Secretary Scott Bessent confirmed that authorities are sanctioning multiple crypto wallets tied to Iran. “We will follow the money that Tehran is desperately attempting to move outside of the country and target all financial lifelines tied to the regime,” he said.

Tether, which facilitated the transactions, said it worked with U.S. authorities to freeze the funds across two wallet addresses after receiving intelligence linked to unlawful activity.

A U.S. official said blockchain analysis revealed “material links” to the Iranian regime, including transactions routed through intermediary addresses connected to wallets associated with the Central Bank of Iran.

Responding to the development, Tether CEO Paolo Ardoino said the company does not tolerate illicit use of its stablecoin. “USD₮ is not a safe haven for illegal activity. When there is credible linkage to sanctioned entities or criminal networks, we act immediately,” he stated.

The crackdown underscores the growing reliance of sanctioned states on digital assets to bypass traditional banking restrictions. Data from Chainalysis shows Iran’s cryptocurrency holdings reached $7.8 billion in 2025, with the Islamic Revolutionary Guard Corps reportedly controlling about half.

Analysts say while the freeze is significant, Iran has historically adapted to sanctions. Daniel Tannebaum of the Atlantic Council noted that targeting third-party actors enabling such transactions may be key to increasing pressure.


Kindly share this post
Continue Reading

Trending