New Telegraph

Nigeria Hotels Association tasks CBN on bailout funds

The Nigeria Hotels Association (NHA) has lamented the impact of the economic crunch on the operation of its members, calling on the Central Bank of Nigeria (CBN) for financial succour in the form of financial bailout fund. This is even as it decried the present situation of Nigerian politicians leaving the shores of the country to hold meetings in other climes, noting that it is not only capital flight but that it is affecting hotel business in the country for lack of patronage by the politicians.

This call was made in a recent press statement in Bauchi by the National President of NHA, His Highness Eze Patrick Anyanwu. While lamenting the present financial crunch of hotels in Nigeria, which he said is occasioned by COVID-19 and the poor economy of the country, he said there is urgent need for bailout fund for the operators from the federal government to prevent total collapse of hotel business.

The NHA president also noted that the hospitality sector can only contribute to the country’s economic growth if the numerous challenges militating against its smooth operations are adequately tackled. Anyanwu listed other challenges to include poor electricity, multiple taxes and levies by government agencies and low patronage by politicians. He charged the federal government to address these identified challenges in order to move the country from that of dependent economy to self-sufficient and export-based economy, adding that this can only be made possible with consistency in government’s policies creation of enabling environment that would enable and hotels operate at maximum capacity.

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