Governor says infrastructure, policy stability and private sector partnerships key to unlocking sector’s full economic potential

LAGOS — Lagos State Governor, Babajide Olusola Sanwo-Olu, has declared that the future of Nigeria’s tourism sector depends on building a strong, investment-ready ecosystem anchored on infrastructure, policy consistency and robust public-private collaboration.

Sanwo-Olu made the assertion during the 2026 BusinessDay Tourism Conference 3.0 held on Wednesday at the Sheraton Hotel, Ikeja, where stakeholders across government, business and development sectors gathered to chart a new course for the industry.

The governor, whose keynote address was delivered by the Permanent Secretary, Lagos State Ministry of Tourism, Arts and Culture, Mrs. Bopo Oyekan-Ismaila, said Nigeria must move beyond merely celebrating its tourism potential to actively investing in it.

“For many years, we have spoken about Nigeria’s immense tourism potential. We have celebrated our culture, festivals, creative talents and landscapes. Yet, potential alone does not create jobs, attract capital or build destinations. Investment does,” he said.

According to him, the next phase of Nigeria’s tourism development must be driven by deliberate actions—ranging from infrastructure development and policy certainty to innovation, strategic partnerships and investor confidence.

Sanwo-Olu emphasised that Lagos views tourism as more than leisure, describing it as a multi-sectoral industry that intersects with transportation, security, urban planning, technology, arts, sports, entertainment and commerce.

He pointed to ongoing projects such as the Blue and Red rail lines, road expansions, waterfront regeneration, improved sanitation and expanded digital connectivity as critical investments aimed at enhancing visitor experience and boosting business competitiveness.

“Tourism flourishes where infrastructure works. It thrives where people feel safe. It grows where cities are clean, connected and welcoming. That is the Lagos we continue to build,” the governor stated.

He added that Lagos has increasingly positioned itself as Africa’s hub for business tourism, entertainment, culture and innovation, citing the global influence of Nollywood, Afrobeats and fashion, as well as the economic impact of the popular “Detty December” festive season.

Sanwo-Olu stressed that building a globally competitive tourism industry requires synergy between government and the private sector.

“As governments, our responsibility is to provide enabling policies, modern infrastructure, effective regulation and security. The private sector must innovate, invest and maintain global standards. Together, we can create destinations that are competitive, sustainable and profitable,” he said.

He further noted that under the THEMES+ Development Agenda, Lagos is committed to fostering a tourism ecosystem that supports entrepreneurship, empowers youth and women, preserves cultural heritage and revitalises waterfront communities.

Describing Africa as the next global growth frontier, the governor said Nigeria—led by Lagos—has a unique opportunity to take the lead.

“We must move decisively from celebrating our potential to investing in it; from attracting visitors to creating value; and from isolated successes to building an industry that generates jobs, attracts capital and delivers prosperity at scale,” he said.

Earlier, Publisher of BusinessDay Media, Mr. Frank Aigbogun, said Nigeria stands at a crucial point in its economic diversification journey, with tourism representing one of the most underutilised opportunities for growth.

Citing data from the World Travel & Tourism Council (WTTC), he noted that the sector contributed over 10 per cent of global GDP and supported more than 350 million jobs worldwide in 2024.

He pointed to countries such as Morocco, Kenya, South Africa and Rwanda as examples of how strategic investment, sound policies and strong branding can transform tourism into a major economic driver.

“Nigeria possesses even greater cultural diversity and creative assets. The opportunity is not one of potential alone, but of execution,” Aigbogun said.

He added that the BusinessDay Tourism Conference was created to position tourism as a serious investment agenda and to drive actionable conversations that lead to measurable outcomes.

“The future of Nigerian tourism will be shaped by the decisions we make, the partnerships we forge and the investments we commit today,” he said.

The conference featured panel discussions, exhibitions and networking sessions focused on unlocking investment opportunities across Nigeria’s tourism value chain.