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The Tourism Sector in Nigeria

by Fred Nwaozor The tourism sector in Nigeria is a largely untapped yet highly promising component of the national economy. With her vast landmass, rich cultural diversity, and varied ecosystems, Nigeria possesses the natural and human resources required to build a thriving tourism industry. Tourism, if properly harnessed, can serve as a major source of revenue, employment, and international goodwill for the country. Nigeria’s cultural diversity is one of its greatest tourism assets. With over 250 ethnic groups, each with distinct languages, traditions, festivals, and cuisines, the country offers a wide range of cultural experiences. Traditional festivals such as the Argungu Fishing Festival, Osun-Osogbo Festival, Durbar Festival, and New Yam festivals attract both local and international visitors. The country is also blessed with numerous natural attractions that have strong tourism potential. These include scenic landscapes such as the Obudu Mountain Resort in Cross River ...

Tinubu seeks Senate Approval for $21.5bn Loan, others

The Nigeria's President, Bola Tinubu, has sought the approval of the Senate for the 2025-2026 external borrowing plan of $21.5 billion.

Tinubu also sought the approval of the Senate for a loan request of 15 billion Japanese Yen and 51 million Euros grant.

Tinubu’s request is contained in a letter addressed to Senate President Godswill Akpabio and read at plenary in Abuja on Tuesday, May 27, 2025.

The president stated: ”Following the removal of the first fuel subsidy and its impact on the national economy, approval is sought for the external building plan.

“I want to emphasise that the projects and programmes included in the plan were selected based on technical and economic evaluations and the anticipated contributions to the socioeconomic development of the country.”

Tinubu noted that the initiatives were aimed at generating employment, promote skill acquisition, foster entrepreneurship, reduce poverty and enhance food security.

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He strongly opined that the move would improve the livelihoods of Nigerians.

Tinubu added that majority of the projects and programmes would be implemented across the country.

He stated: “These funds will primarily be directed towards critical infrastructure projects including sectors in power, railways healthcare among others.

“Given the urgent nature of business and the importance of stabilising the economy, it is therefore crucial to seek approval of the distinguished senate for the 2025-2026 external borrowing plan.

“This will enable the government to fulfill its obligations to the Nigerian people through timely and effective project implementation.”

Akpabio thereafter forwarded the request to Senate Committee on Local and Foreign Debts for further legislative inputs and to revert to plenary within two weeks.

Fred Nwaozor, popularly known as TheMediaAmbassador, is a Nigerian tech expert, author, creative & content writer, media strategist, policy analyst, blogger, public speaker and rights activist. The renowned columnist regularly writes for the Federal Radio Corporation of Nigeria (FRCN), and is the Founder & Convener of Right Thinkers Movement (RITMO), Nigeria. He's a chartered industrial physicist, engineer and IT personnel. As a media guru, he enjoys an active presence in all media segments - including electronic, print & digital - since two decades ago till date. As a full-time researcher and educator, he's a regular contributor and peer reviewer for various internationally-noted engineering journals. As an Automation & Telecommunication engineer, his research interest mainly lies in System Modelling, Internet of Things (IoT), Smart city, Cybersecurity, Wireless networks, and Machine Learning (ML).