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Iweha VivianIweha Vivian
I work as PR for an online company. I love to write localized articles on business and development in Nigeria.
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From Lagos
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Article Category >>>Real Estate

Driving real estate development with tourism in Nigeria.

By Iweha Vivian       Nov 03, 2014


Driving real estate development with tourism in Nigeria.

Obudu Mountain Resort (formerly known as Obudu Cattle Ranch) located at Obaniku Local Government area of Cross River State, Nigeria was rebranded leading to an influx of tourists both from within and outside the country thus creating revenue for the state government and private investors. This development was an eye opener for other states in the country to the many benefits of tourism to real estate, which ultimately leads to the creation of new revenue opportunities.

Nigeria is blessed with many natural and human resources. As one of the most naturally picturesque nations in the world tourist attractions abound in Nigeria, ranging from natural attractions like hills, waterfalls, springs, lakes, mountains, rocks, beaches, etc; to man-made attractions like resorts, parks, game reserves, ranches, etc; and cultural attractions such as festivals, carnivals, etc.

A study by Lamudi Nigeria however shows that only a few out of over 70 tourist centres which spread throughout different states in the federation (and each area hosting as much as 100,000 visits a month) generate substantial revenue. These tourist attractions, mostly resort centers, comprise of revenue generators like luxury rooms, outdoor facilities such as recreational parks, swimming pools, golf course, tennis courts, horse riding arenas, bird watching facilities, boat riding and other activities localized to that area.

Places like the Tinapa Business Resort in Calabar, La Campagne Tropicana Lagos, MicCom Golf Course Ada in Osun State, Oguta Lake Holiday Complex Imo State, Le Meridien Ibom Golf Resort in Akwa Ibom amongst others, have joined the league of revenue generators for the real estate industry in Nigeria. However the overall percentage of explored real estate investment in tourism industry in Nigeria, is less than 2%.

One area of note is the community of Ojiram in Akoko Edo North, Edo State, Nigeria. Blessed with a lovely serene environment and a large body of water which feeds the Ojirame dam, the area had been known in earlier times to have housed many affluent Nigerians including formal military head of states and expatriates who learnt their expertise during the construction of the dam. This area is also known for its beautiful rock formations and colonial style houses with historical significance.

Although the geography of the area is rocky, the slow pace and relatively serene environment allows the community be the perfect host to a five star luxury resort. This will not only open the community to other types of investments such as retail and hotels, it will also boost the economy of the state.

There are other such opportunities in Nigeria and if it can only be explored and developed, it may prove to be a sure way for revenue generation. Even though tourist services in the nation, at the moment, is not at its peak, the industry is still flourishing with more than 1,000,000 tourists coming into the nation annually from all over the world. These opportunities and many more can be turned into sure revenue generators should we take time to explore the possibilities.



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Article Tags: Tourism, real estate, economy
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Iweha VivianAbout Iweha Vivian
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Gboyega Adedeji     4 years ago
Nice write-up! Great work! You are welcome to Witicles.com.ng Vivian!




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