Multi-sectoral entrepreneur, Henry Okwudili Nwazureokeh, popularly called Okwute 101, has urged the Federal Government to improve infrastructure and tackle insecurity for the tourism and hospitality sector to deliver more to Nigeria’s Gross Domestic Product (GDP).
In a chat with The Guardian at a press conference held recently to announce the grand inauguration of his Ibizza Pit Hotel and Suites, Ikotun, Lagos, he said the hotel would offer 24-hour electricity, Closed-Circuit Television (CCTV), basement car park, swimming pool and spa.
He, however, listed some of the challenges confronting the industry to include absence of stable electricity, multiple taxation and insecurity. On why he ventured into hospitality, Nwazureokeh said the move was informed by the quest to diversify his investments and create jobs for the unemployed youths in order to contribute to youth empowerment as well as IGR of the state.
Regarding Nigeria’s investment climate, he said, “it is chequered, worsened by multiple taxation and unstable foreign exchange rates, calling on the government to set out strategies to fix the problem currently hindering investments and other prospects in Nigeria.
