Many opportunities in Nigeria's hotel industry
TradeInvestNigeria Staff
Posted on: Fri, 04 Jan 2008


Olusola Obadimu, executive secretary of the Nigerian-South African Chamber of Commerce, said there are still many possibilities in the hotel industry.

Sun International announced in August that they are finalising plans to buy a 49% stake in the Federal Palace Hotel in Lagos for US$38-million. The group plans to expand the hotel's facilities by building a casino and conference centre for a further US$120-million.

Another South African group, Protea Hotels, are already operating ten hotels in Nigeria.

Intercontinental and Radisson are some other international hotel groups currently busy with projects in Lagos.

South African companies doing business in Nigeria enjoy many advantages due to bilateral agreements between the two countries. These include protection against nationalisation and exemption from double taxation.



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