Foreign countries take equity in tourism projects

Five foreign countries are to take 60 per cent equity in tourism projects in the country.
According to the managements of the Nigerian Tourist Board, and the Nigeria Enterprises Promotion Board, the countries are the United States of America, The Netherlands, United Kingdom, Soviet Union and Hungary.
According to the sources, investors from these countries have concluded negotiations with Nigeria for equity participation in tourism projects and the projects are strategic tourist sports in the country.
Such tourist spots include Jos, Plateau, Oguta Lake in Imo State, Obudu, Agbokin and Kwa falls in Cross River State.
According to a source at the Ministry of Internal Affairs the investors have undertaken feasibility studies in hotels and guest houses projects in the areas. The investors The Republic gathered, have applied for expatriate quota, business permit and other necessary conditions for establishing a business in the country.
According to sources at the ministry of information, youth, sports and culture, if all goes well, the projects will take off in the first quarter of next year.
The investors who sources said have visited these spots on several occasions this year, are said to have the strong backing of their home government