Nigeria, the largest economy in Africa, has hugely depended on crude oil for revenue. Crude oil brings in 90 percent of the country’s foreign exchange earnings, and 10 percent of its Gross Domestic Product (G.D.P). While Nigeria is not considered as an oil rich despite being one of the world’s major crude oil exporters; the Nigerian government has paid a lot of attention to generating its revenue from crude oil and unfortunately, has not given the same attention to other sectors of the economy. This may change very soon as the nation’s Department of Petroleum Resources (DPR), in 2020 stated that the nation’s crude oil reserves will be depleted in less than 50 years, and a Nigerian economy without crude oil is in the horizon.
According to a DPR data, the reserves, which stood at 37.45 billion barrels in 2014, fell to 37.06 billion barrels in 2015 and 36.74 billion barrels in 2016. It, however, rose to 36.97 billion barrels in 2017 and 37 billion barrels in 2018. Two percent of the 37 billion barrels of crude oil in the country’s reserves is being produced annually, and it is estimated that it will be depleted in 49 years.
“The nation’s depletion rate and life index are 2.04 per cent and 49.03 years respectively”, said a DPR spokesperson. Explaining the depletion rate and life index, he said “The reserves’ depletion rate is a measure of 2018 total oil and condensate production divided by the reserves as of January 1, 2019. The life index, on the other hand, is a measure of the reserves as of January 1, 2019, divided by the total production in 2018. This parameter highlights how long (in years) quoted reserves volumes will be available for production.”
With the admission that Nigeria’s crude oil is exhaustible, the government now sees the need to diversify and put other sectors of the economy in the spotlight. One sector that the government hopes to fully revive is the tourism sector. As the government works towards promoting tourism, this article takes a look at the importance of tourism in Nigeria, and ways the tourism sector can be revived after years of what can be tagged as neglect.
Importance of Tourism to Nigeria
- Employment Opportunities:
Employment can be said to be the biggest importance of tourism in every economy. Even though the COVID-19 pandemic affected tourism globally and millions of people lost their jobs, tourism provides a means of employment as more people travel due to easing of COVID restrictions around the world. As a country with high unemployment rate, Nigerians can be gainfully employed through tourism as guides, hotel staff, entertainers and cooks.
- Diversification Of The Economy:
Clearly, Nigeria’s over-dependence on revenue from crude oil has not totally paid off. With tourism (and of course other neglected sectors of the economy), Nigeria can diversify its economy and have multiple sources of income. Unlike crude oil, tourism ‘reserves’ cannot be depleted, as it only gets better from the point tourism starts bringing in the revenue. The role of diversification in a country like Nigeria blessed with natural and human resources, can never be overemphasized.
- Additional Income For Locals:
When tourists come into a country, they do not come in empty-handed. They would love to buy food, drinks souvenirs, clothes and other things. A lot of tourists are rich and can afford to spend money on anything they want. Locals in tourist’s attractions will witness a rise in sales, if tourism is well promoted.
- Infrastructural Development:
When a country wants to play host to a lot of tourists, it has no other option but to develop its social infrastructure. These tourists need to be given a good impression of the country, so the government takes steps like providing good roads, public transport, hospital facilities and parks. The more infrastructural development, the more tourists are attracted; this will in turn mean more revenue. Talk about killing two birds with a stone.
- Promotion Of Culture And Values:
Nigeria is a country with cultural diversity, and tourists would have lots to say about the country after visiting. This would also help the failing reputation the country has outside its borders, as some people outside the country only see Nigerians as fraudsters and thieves. This ideology can be changed if tourists come in and go out of the country, with positive tales to tell.
How to Promote Tourism in Nigeria
- Identify Tourist Attractions:
The first step to promoting tourism is getting to know the possible places tourists would love to visit, especially on weekends or public holidays. Identifying these tourist attractions would help map out strategies to attract more tourists to them. The tourist attractions in or near major cities should be given a lot of attention, because tourists would prefer to visit these places as they are easily accessible.
- Encourage Private Sector Investment:
The Nigerian government can promote tourism in Nigeria, by encouraging individuals and organizations to invest in tourism. This would provide more funds to develop tourist attractions and attract more tourists. The private sector can invest in Nigerian tourism by establishing hotels, restaurants and other businesses that target tourists.
3. Discourage Foreign Travels: A lot of Nigerians prefer to go outside the country to experience the ‘feel of tourism’, they cannot find in their country. This is because the tourist sites in Nigeria are not developed enough. After these tourist sites have been developed, the Nigerian government should encourage its citizens to visit these sites to enjoy whatever they enjoy outside its shores. If this is achieved, they can invite their foreign friends to visit these Nigerian tourist attractions.
4. Effective Use of Social Media:
In today’s world, social media plays a huge role in the promotion of tourism. With social media, tourist attractions in Nigeria can be advertised to the world; and interesting facts about these places would make foreigners even keener on visiting them. Apart from capturing their imagination, social media can be used to influence the perspective of foreigners about Nigerian culture, dressing, food, dance, history and values.
