Nigeria will tap into entertainment, tourism to diversify the economy ―Osinbajo

 

Vice President Yemi Osinbajo has said that the government is working hard to tap into the potentials of entertainment and tourism in its quest to diversify the economy and create more jobs for the teeming population.

Osinbajo who disclosed this on Friday while commissioning the Dome Entertainment and Leisure Center in Abuja said the government is also working on tackling the security challenges in the country and create enabling environment for businesses to thrive.

His words: “We have looked around and we have seen what is here, but it is not just about what is here, but about the great potentials here offers, first the facilities are world class, the concept of the place is interesting.

“But I think what is important this place is doing for this city is that it really signals where we want to be, entertainment and tourism are clearly the new money makers for our country.

“This is like Dubai for example, they produce as much oil as we produce on a daily basis, yet oil is just 20 per cent of Dubai’s revenue, most of it is from tourism and entertainment and this is where our country ought to be going, it is so important for us to ensure that this sort of places are given the encouragement that we can give it.

Am quite certain that this is just the beginning for the Dome entertainment centre and that we should really expect lots more, what the Federal Government intends to do is to provide the environment to make business easier to do.

“We are going to continue working on security in ensuring that our country is peaceful and ensuring that our country is an exciting place that it is for so many people”.

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While speaking with Sunday Tribune, the CEO of the Dome Entertainment Centre, Obiora Okonkwo, said the creative industry can boost the Gross Domestic Product (GDP) of the country if properly supported by the government.

He said most countries where the creative industries are supported by their governments, 80 per cent of their internally generated revenue comes from businesses of this nature.

“Am happy that people have responded to our invitation, and we are grateful to the Vice President who has agreed to come, it shows actually the strong importance they attach to the creative industry and the strong meaning they are giving to the world and diversification of the economy, because I strongly believe that this industry can offer a whole lot to Nigerian GDP is properly supported, if the opportunities there are harnessed, and it is the future in most countries of the world, their 80 per cent national income come from businesses of this nature.

“Abuja hosts a lot of international conferences and these people usually come with a lot of resources, it is only when there is environment for them to spend it that you will extract from them the VAT, the taxes and others that will go back to the government, so we will not allow anything if this nature to pass by”, Okonkwo noted.