Why NHTIC 2015 matters

With the continued dwindling of crude oil price (the mainstay of Nigerian economy) at the global market, there is need for the diversification of the Nigerian economy. While considering and borrowing a leaf from other countries, tourism quickly comes to mind.

But the sector cannot contribute efficiently to the economy if not developed. The issues surrounding the development of the Nigerian tourism and hospitality sector, boosting hospitality investment, formulating ways to make the sector count in the Nigerian economy among others were highlights for speakers at the Nigeria Hotel & Tourism Investment Conference (NHTIC) 2015.

From the lavish welcome reception, the conference, which held from November 25-27, 2015 at Intercontinental Hotel Lagos, got the speakers on hot seat and even the participants talking, networking and dialoguing way forward for the sector.

The array of knowledgeable speakers at the three-day event gave their various sessions and issues they discussed the attention and clarity they needed besides answering questions and proffering solutions.

The conference mattered a lot for the hospitality industry because as the participants unanimously agreed, now is the right time to show more commitment and action at diversifying the Nigerian economy and using tourism as a sure alternative to oil. However, it all depends on how much the stakeholders are determined to commit in making it work, as tourism development is usually private sector driven.

As expected, the conference went beyond paper presentations to offering platforms for networking, interaction and exchanges among participants who were eager to learn new, discover new trends and also implement resolutions arrived at the conference for the growth of their businesses.

From the first paper entitled: Macro-Economic Overview, Sam Ohuabunwa, founder, SOFEE, thoroughly explored the country’s economic outlook, giving insight to would-be investors on how to go about their investments across the country and also meeting their expected investment objectives.

Placing the country against the rest of the world, Ohuabunwa noted that despite the challenges of doing business in the country, Nigeria is still an investment heaven due to the high return on investment.

However, the picture became clearer when Trevor Ward, managing director, W Hospitality Group, exposed the growth and investment potential of the Nigerian hotel and tourism market. Ward gave detailed study on the hospitality hot spots, supply gaps and key segments with potential growth which would-be investors should look out for among others.

Moreover, Ward’s figure-based presentation was more in-depth as the audience questions reflected the gray areas that bothered most investors.

Also Laura Alakija, managing associate, Sterling Partnership, assured the participants and would-be investors the safety of the investment with her presentation on the Regulatory Framework in Nigeria: How can this be made easier for investors.

From the government perspective, Cross River State Carnival Commission led by Gab Onah, the chairman, unveiled the efforts at making the state the foremost tourism destination in West Africa. Onah noted that over time, the state has grown its craft, skills and even passion that have sustained the carnival, and other related businesses. For Justina Ovat, principal consultant, Calabar Hospitality House Limited, the increasing traffic to the state, especially during festive season, offers limitless opportunities for more investments hotels, resorts, tours and related businesses. Moderated by Obinna Emelike, tourism, editor of BusinessDay, the Cross River State session ended with a formal invitation by Onah to the audience to participate in this year’s carnival.

There were other sessions featuring paper presentations on topical issues affecting the industry.

The likes of Andrew McLachlan, vice president, Carlson Rezidor, Mark Martinovic, CEO, Hotel Partners Africa, Samuel Alabi, legal adviser, Eko Hotel and Suites, Rosana Forsuelo, provost, Wavecrest College of Hospitality among others enlightened the audience with their various paper presentations that truly made the conference worth participating.

Earlier at his welcome remarks, Brian Efa, managing partner, Jonel Hospitality Consulting, organisers of the conference, noted that the theme this year; ‘Nigeria’s Tourism Industry-Catalyst for Economy Diversification’, was purposely meant to highlight the challenges of operating in Nigeria, opportunities and prospects of the industry and plans to in place to secure increased investment in the sector the three-five years.

Efa commended the quality speakers and their insightful presentations, the participants that made the conference well-attended, and promised a more impacting edition in 2016.

Organised in partnership with the Nigerian Investment Promotion Commission and with the endorsement of defunct Federal Ministry of Culture, Tourism and National Orientation, NHTIC is an annual event of the international level aimed at promoting the hotel and tourism business in Nigeria, and the West African region.

OBINNA EMELIKE