Sum of N1 billion seed capital approved as palliatives by Governor Babjide Sanwo-Olu for tourism and entertainment practitioners in the state is ready for disbursement.
The Commissioner for Tourism, Arts and Culture, Uzamat AkinbiIe-Yusuf, made this known. She said: “It is my pleasure and honour to inform Lagosians that Mr. Governor has graciously approved the release of N1 billion as seed capital for investment in tourism to drive the growth of hospitality, tourism and entertainment businesses.”
The amount was part of other palliative measures approved for practitioners in the industry in order to drive the growth of hospitality, tourism, and entertainment businesses in the State.
Akinbile-Yussuf made this disclosure while interacting with the media. She further said that the briefing was necessary in order to explain and address grey areas in the earlier pronouncement made by the Governor in consonance with the recommendations submitted by the Lagos State COVID – 19 Pandemic Review Committee constituted by the State Government to critically assess and review the negative impacts of the pandemic on the tourism and the creative sector in the State.
Akinbile-Yusuf stated that the seed capital shows the passion of the Governor in creating an enabling environment that will promote sustainable tourism given its major potential to contribute to jobs and wealth creation.
The commissioner also highlighted other palliatives and efforts by the State Government that will guarantee quick recovery of the tourism sector to include; 50% rebate for license and renewal fees payable to the Ministry by all hospitality, tourism, and entertainment establishments across the State.