Monday, May 23, 2022

Tourism Investors Will Get Three-year Tax Holiday – Lai Mohammed

Nigeria’s minister for information and culture, Alhaji Lai Mohammed, says intending tourism investors will get a three-year tax exemption and export incentives.

The minister was speaking on Wednesday at the fourth edition of the Tourism Investors Forum and Exhibition (NTIFE). He said the incentives will ensure that the sectors meet the country’s development expectations.

“The government, in its efforts at ensuring that tourism meets the country’s development expectations, has provided some actual and potentials incentives,” Mohammed, who was represented by Grace Isu-Gekpe, permanent secretary of the ministry said.

“Tax exemption for up to three years, export incentives, land at a concessionary rate, import/export incentives and work permit to foreigners with specialized skill among others.”

The minister said that “programmes and policies to fully harness the country’s vast tourism potentials over the next one and half decades are anchored in the National Tourism Development Master Plan”.

According to him, the lack of accurate statistics on arrivals and receptions were major challenges confronting the tourism sector, hence the ministry with the support of the United Nations World Tourism Organisations (UNWTO) would implement a tourism master plan.

He explained that the UNWTO, as a follow-up to it, sought the support of some donor agencies to assist Nigeria with funds for the execution of the project on the strengthening of National Tourism Statistical System and the development of a Tourism Satellite Account (TSA).

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