Expert Canvasses Tax Incentives for Hotels, Tourism Industries
Mr. Oluwatoyin Balogun, Programme Officer, Hospitality and Tourism Promotion Initiative, a Non-Governmental Organization (NGO), has advocated for tax incentives to hotels and tourism- related industries to fast track development in the sector.
Balogun, who made the call on Tuesday in an interview with the News Agency of Nigeria (NAN), said that the incentives had become imperative in order to regain tourism potential in the country.
“Government should engage the private sector in tourism development project incentives, such as tax break, pioneer status and land at concessionary rate, while hotel multi-registration region should be removed.
“Investment in basic infrastructure, such as roads, better airport facilities and good transport system should be encouraged and provided by government.
“Government should also allocate development funds to projects that are unique, to enhance tourism. These will go a long way to ensure stable tourism demand for the country,’’ he said.
The expert said that fall in revenue had led to increased poaching and habitual destruction in and around protected areas, adding that the closure of many world heritage sites had deprived communities of vital livelihoods.
“It is imperative that we rebuild the tourism sector in a way that is safe, equitable and climate-friendly.
“There is the need to build resilience across the entire tourism value chain, maximize use of technology in the tourism sector as well as foster partnerships to enable tourism to further support the Sustainable Development Goals (SDGs),’’ he said.
