Keji Giwa, Nigerian entrepreneur and tourism investor, has called for increased private-sector investment, infrastructure development and diaspora capital mobilisation to unlock Nigeria’s proposed $100 billion tourism economy.
Giwa, founder and CEO of Giwa Gardens Water Park and Digital Landlords, stated this recently while speaking on CNBC Africa’s Power Lunch West Africa on the topic, ‘Will Nigeria Unlock $100bn Tourism Economy?’
The conversation centred on the Ministry of Tourism’s backing of a 100-day tourism calendar designed to bring together festivals, concerts, cultural events and other experiences on a single digital platform.
With the Detty December season approaching, the Federal Government-backed initiative seeks to improve the visibility and coordination of tourism activities to drive visitor participation, private investment and economic growth.
Giwa said the opportunity extends beyond promoting events and attracting seasonal visitors. According to him, Nigeria must develop the physical infrastructure, investment structures and commercially sustainable destinations required to turn tourism demand into long-term economic value.
He said a coordinated calendar can help visitors discover destinations, plan trips and make bookings in advance, while for operators, greater visibility can support customer acquisition, improve demand forecasting and create opportunities to develop packages combining accommodation, entertainment and transportation.
However, he noted that the success of the calendar must be measured by its ability to support real businesses, encourage repeat visits, improve utilisation of existing facilities and attract investment into new destinations.
Giwa cited Giwa Gardens Water Park in Sangotedo, Lekki, as a practical example of both the potential and challenges facing Nigeria’s tourism industry.
The family recreational destination, which offers water attractions, swimming pools and entertainment facilities, represents a substantial private investment in the leisure and hospitality economy.
He said the ambition is to develop it into an integrated tourism destination with complementary hospitality, accommodation and recreational services.
The company’s expansion plans include additional resort facilities and increased operational capacity to position it as a year-round family tourism destination.
Giwa noted that developing major recreational destinations in Nigeria comes with significant infrastructure costs. Reliable electricity, water supply, access roads, drainage, security and transportation networks are often provided by private investors, raising operating costs and affecting pricing and profitability.
He said this underscores the need for collaboration between government and private investors to develop tourism corridors where public infrastructure and private investment reinforce each other.
On Detty December, Giwa said the season has become important for entertainment, hospitality and travel, attracting domestic visitors and Nigerians in the diaspora. But he argued that Nigeria must translate seasonal demand into long-term investment.
Rather than concentrating only on concerts and nightlife, he said the country can develop a broader visitor economy that includes family recreation, resorts, cultural tourism, wellness, sporting activities and conferences.
‘A sustainable tourism economy cannot depend entirely on one festive season,’ he said.
Giwa also highlighted the role of diaspora capital in financing the next generation of tourism destinations. Through Digital Landlords, he is working to create investment opportunities in real estate, hospitality and recreational infrastructure, with Giwa Gardens and The Carnelian as major components of the portfolio.
The Carnelian is a 21-storey oceanfront residential and recreational development in Victoria Island, Lagos, located within the city’s expanding coastal corridor.
He said Nigerians abroad can play a significant role in financing tourism assets, but attracting such capital requires commercially viable opportunities, transparent structures, credible developers and clear investor protections.
Giwa said tourism growth requires coordination across destination development, public infrastructure, private investment, technology and marketing. While government initiatives like the 100-day calendar can improve visibility, private developers must invest in quality destinations and reliable visitor experiences.
He added that Nigeria’s $100 billion tourism ambition must be matched with improvements in accessibility, power supply, visitor services and investment confidence to translate increased interest into actual bookings, higher spending, repeat visits, new investment and jobs.