A Plea for Recognition
In a heartfelt appeal, Eyitayo Fakehinde, the President and Founder of Sailors' Lounge, has urged both federal and state governments to extend support to the hospitality industry. He passionately emphasizes the need for grants and specific budget allocations to encourage growth in the sector, drawing attention to the favorable concessions granted to other industries such as oil and gas and exporters.
Bridging the Gap: Parity in Support Across Industries
Fakehinde underscores the importance of equal support for the hospitality industry, akin to the concessions provided to the oil and gas sector. He envisions these funds being directed towards infrastructure development, marketing campaigns, training programs, and other initiatives aimed at elevating the industry to new heights.
Navigating the Turbulent Business Landscape
Expressing concern over the mounting challenges faced by businesses, Fakehinde highlights the difficulties arising from the increased prices of raw materials, surging inflation rates, and the escalating costs of petrol and diesel. He asserts that the government can play a pivotal role by making low-interest loans available to industry players and improving power supply.
The Struggle of the Hospitality Industry
Fakehinde laments the lack of encouragement for the hospitality industry, particularly in the tourism sector, which he perceives as being under attack due to excessive fees and taxes. He emphasizes the urgent need for government intervention to alleviate the financial burden on businesses grappling with rising operational costs.
The Contribution of Hospitality Businesses
Acknowledging the positive impact of businesses in the hospitality industry, Fakehinde emphasizes that financial support from the government would be a gesture of appreciation. Sailors Lounge, under his leadership, currently employs over 100 staff members and stands as a beacon within the hospitality and real estate landscape in Nigeria and Africa.
A Call to Action for the Youth: Shaping the Future
Fakehinde extends a call to the youth, urging them to actively contribute to the development of the country. He asserts that the responsibility lies with individuals to invest in and develop Nigeria, emphasizing the potential for growth and investment in both the real estate and hospitality sectors.
A Collective Effort for Nigeria's Progress
Closing his plea, Fakehinde reminds everyone that they are the government, emphasizing that those who have chosen to serve must actively contribute to the nation's development. He encourages Nigerians to invest locally and calls for collective efforts to propel growth in the hospitality sector, which he believes still holds untapped potential for expansion and increased investment.