Institute to govt: roll out N30b stimulus. its effect on NSE?

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Edwin sylvester

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Apr 21, 2020
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The Institute for Tourism Professionals of Nigeria (ITPN) has urged the Federal Government to give attention to the tourism industry by introducing a N30 billion stimulus for the sector.

Besides, the institute said the government should make available other palliatives and intervention initiatives, including a financial intervention of N15.5 billion for job losses, pay cuts, sustainable professional competency training for members across the country to mitigate the effects suffered by players in the travel related sectors on account of COVID -19 global pandemic.

Its National President, Chief Abiodun Odusanwo, said the tourism sector was hardest hit by COVID-19 because of the restriction on movement of people and services.

In an interview in Lagos, he said activities were hampered because of restrictions placed on the movement of people and lockdown of most parts of the country.

Chief Odusanwo listed areas of intervention required to include grant of moratorium for bank facilities granted operators in the travel-hospitality, tourism sub-sectors for not less than six months.

He proposed a tax free regime in the first and second quarters of the year as part of post-COVID-19 intervention.

He canvassed the promotion of domestic tourism as a strategy to boost inbound tourism due to impending dwindling fortunes of international travel bans and restrictions.

For transparency and inclusiveness, the ITPN chief said it members should participate in the intervention measures and fund disbursement processes.