Edo State is seeing a significant influx of international hotel chains, a trend that is largely driven by the state’s unique appeal and growing hospitality sector. Hon. Uyi Malaka, the Edo State Commissioner for Arts, Culture, Tourism, and Diaspora Affairs, highlighted that the state’s distinct characteristics have made it an attractive destination for global brands looking to expand. She pointed out that this growth has also had a positive ripple effect on employment and the state’s creative industries.
In a recent appearance on Edo Broadcasting Service’s (EBS) show, Doing Business in Edo, a program produced in collaboration with the Edo State Investment Promotion Office (ESIPO), Hon. Malaka shared insights on the growth of Edo’s hospitality sector and its broader economic impact. She noted that the number of licensed hospitality establishments in the state had more than doubled, from 725 in 2021 to 1,386 by the end of 2023. This expansion has translated into significant job creation, with each new hotel or facility providing an estimated 20 direct jobs. Hon. Malaka explained that this increase underscores how unique and attractive Edo State is to international investors.
Speaking about policies that facilitate these developments, Hon. Malaka emphasized that her ministry plays a pivotal role in creating an environment conducive to business growth. She pointed to key policies, including those focused on tourism, heritage, entertainment, and anti-cultural protection, which are designed to provide stability and predictability for businesses operating in the state. The commissioner also highlighted the state’s approach to taxation, noting that hospitality businesses benefit from a tax-free period that allows them to establish their operations before being subject to levies. This, she explained, gives investors the financial breathing room needed to thrive and later meet their tax obligations.
Edo State’s commitment to fostering the creative industry is another significant driver of investment. Hon. Malaka highlighted a notable initiative: the creation of a film project, which mandates that 70% of production must take place within the state. This project not only creates jobs and opportunities for local talent but also serves to showcase Edo’s rich cultural heritage to a wider audience. It is part of a broader strategy to establish the state as a hub for the creative economy in Nigeria.
Looking ahead, Hon. Malaka expressed optimism about Edo State’s future, noting that the combination of an attractive investment environment, job creation, and a flourishing creative scene positions the state for even greater growth. She foresees Edo becoming a central player in Nigeria’s tourism and cultural sectors as more international businesses, especially in hospitality and entertainment, choose to invest in the state.
As Edo State continues to foster innovation, growth, and cultural preservation, the hospitality and creative sectors are expected to remain at the forefront of its economic development strategy, making it a key destination for investors.
