While the Federal Government has confirmed a staggering N5 billion intervention fund to revive the Obudu Mountain Resort, fresh investor interest has been triggered with several investors jostling to get the nod to partner in running the resort.
Hannatu Musa, Nigeria’s Minister of Arts, Culture, Tourism, and Creative Economy, who made this disclosure, also revealed that this investment is part of government’s wider national effort to shore up tourism assets that attract global investors, something that will aid in building alternative revenue streams for government and individuals, beyond oil.
Musa who spoke through her Chief of Staff, Raphael Obi, at the maiden edition of the Destination Nigeria Governors Tourism conference in Abuja, this past Friday, added that several investors are already engaging with the government.
“As we speak, Obudu Mountain Resort is receiving a significant boost in terms of rehabilitation and development. In fact, a private sector person is building an airport in the resort. And what is the reason for that? Due to this discussion about insecurity, people will no longer be afraid to visit Nigeria. And then UNIDO (United Nations Industrial Development Organisation) is providing 2.5 megawatts of electricity for the resort, at an estimated cost of $2.5 million. Then the federal government is putting in N5 billion to rehabilitate and resuscitate most of the infrastructure that will make it world-class and top-notch”, it was revealed.
The minister emphasized that the government’s intervention in the Obudu resort signals a strong commitment to expanding Nigeria’s tourism economy, attracting foreign investment, and rebuilding confidence in the sector, noting that more projects will be unveiled in the coming weeks.
