Lagos - Former President of Association of National Accountants of Nigeria (ANAN), Dr Samuel Nzekwe, says Nigeria can generate N1.2 trillion from tourism yearly if the required infra-structure are provided.
Nzekwe told the News Agency of Nigeria (NAN) on Monday in Lagos that the government should make substantial capital allocation to develop infrastructure like roads, power supply and adequate security.
“All over the world, tourism is a big revenue earner to governments and infrastructure can create the enabling environment for this to happen.”
“Nigeria is capable of generating a quarter of its total annual revenue from tourism, if the sector is well managed,” he said.
Nzekwe said that apart from generating revenue, tourism could create employment opportunities for youths and reduce the crime rate.
“Provision of basic infrastructure would bring about Foreign Direct Investments (FDIs).”
“When people are coming into a country, they are able to see the available business opportunities,” he added.
The accountant said that with its natural endowments, Nigeria could be a great tourist destination in the world.
He stated that by promoting tourism, the Gross Domestic Product (GDP) of the nation would improve because there would be increased productivity.
Nzekwe also advised the Federal Government to start preparing the 2014 budget in earnest and make it as comprehensive as possible, noting that the late passage of the budget could weaken its performance.
Nzekwe further said that government should provide all the necessary schedules to back up the budget for easy passage by the National Assembly.
He said that apart from allocating substantial money to capital expenditures, the National Assembly should improve on its oversight functions.
Nzekwe urged the National Assembly to ensure that funds meant for capital projects, were effectively utilised to improve the economy.
The accountant also advised government to reduce recurrent expenditures to check wastage.