Nigeria's Atlantic coastline has a variety of magnificent beaches.

Tourism is one of the world’s fastest-growing industries and although Nigeria is reaping some of the benefits of this trend, the sector remains a minor player in the national economy.

The tourism industry is contributing 0.8% to the country's gross domestic product, according to the World Travel and Tourism Council. Positive news is that growth rates of 6% are being reported. Nigeria's Bureau of Public Enterprises reports international arrivals up by 17.5% and receipts increasing by 5.3%. Nigeria is ranked eighth in Africa as a tourist destination.

Two actions have shown that the federal government is serious about creating a new image for the country and that it intends using tourism as an agent for generating economic growth and creating employment. A re-branding exercise for the national tourism initiative has been launched and tourism was declared a preferred sector with attractive incentives attached to any new investment.

As a Pioneer Industry, tourism qualifies for a wide range of incentives such as tax holidays, import duty exemption on equipment and the easing of land acquisition requirements. Some states have specific tourism zones where land is set aside for this purpose. The state has also invested in tourism training. The Nigerian Institute for Hospitality and Tourism is headquarted in Abuja and has six campuses around the country.

There are positive results and the country is gaining popularity as tourists destination. A flurry of investment has seen major international hotel chains either increasing their stake in Nigeria or investing for the first time.

These are promising signs in Nigeria's tourism and hospitality sectors but further investment will be required for the country to attain a higher status in the field of tourism.   

Investment opportunities

• Beach and Coastal Resort development - Nigeria has over 700km of unpolluted sandy beaches.
• Conservation and protection of eight national parks and over 10 game reserves.
• Development of hotels and restaurants, amusement parks and conference centres.
• Transportation: water recreation, package tour services, air and rail services.
• Development of caves, tunnels, waterfalls and spring waters, camps and sport fishing.
• Scenic and mountain holiday resorts
• Development of heritage, cultural and archaeological sites.
• Ecotourism opportunities: According to the World Resources Institute, Nigeria is home to 4,715 different types of plant species, and over 550 species of breeding birds and mammals, making it one of the most ecologically vibrant places of the planet.