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Invest in tourist resorts in Lagos
Tue, 17 Feb 2009 06:20

Region
Lagos
Nigeria

Sector
Property
Tourism & Leisure

Summary:
Investors have the opportunity to develop and operate tourist resorts in Lagos State. Many unspoilt areas which are ideal for such developments exist outside the mega-city.
Contact
Senator Tokunbo Afikuyomi

Email
tafikuyomi@lagosstate.gov.ng


The Lagos State Government is looking for investors to develop and operate tourism resorts in the state.

Investment Opportunity

Investors have the opportunity to get involved in the developing, construction and operation of tourism resorts. The Lagos State Government is ideally looking for something similar to the current La Campagne Tropicana resort. This resort is situated on the Lekki Peninsula and offers a serene, natural and unspoilt environment, removed from the hustle and bustle of the city.

Ideally the new resorts would incorporate nature walks, canoeing, water sports, fishing, hiking, and other outdoor activities.

Market

Lagos is Nigeria's most populous state with close to 18 million people. As a major transportation hub with an international and local airport, Lagos is uniquely placed to benefit from tourist arrivals into Nigeria. The presence of sea ports and major international road gateways naturally place Lagos at an advantage for being the first point of call for about 68% arrivals into Nigeria.

Incentives

In addition to incentives offered by the Lagos State Government, Nigeria's Federal Government is willing to extend the following incentives to investment in the tourism, hospitality and leisure industry:

  • The sector qualifies for incentives such as tax holidays, longer years of moratorium and import duty exemption on tourism related equipment.
  • Provision of basic infrastructure such as roads, water supply, electricity and communication facilities to the centre of attraction.
  • Provision of land for tourism development at concessional rates.
  • Availability of soft loans with a long period of moratorium.
  • Contact Details

    Investors interested in this opportunity should contact:

    Lagos State Ministry of Tourism & Inter-Governmental Relations
    Contact: Senator Tokunbo Afikuyomi -  Hon. Commissioner for Tourism & Inter-Governmental Relations
    Email: tafikuyomi@lagosstate.gov.ng

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