Hospitality sector’s revenue dips by nearly 90 per cent | The Guardian Nigeria News


A restaurant. PHOTO: Pressherald

•Investors task govt on incentives to enhance industry growth

The nearly one-year devastating effect of the COVID-19 crisis has continued to take huge toll on the hospitality sector, as the bottom-line of listed firms in the sector has remained vulnerable to the challenges of restrictions.

The most hit is the share price of these companies on the Nigerian Stock Exchange (NSE), which has remained stagnated at nominal value year to date following negative sentiments that have enveloped the demand of the stocks.

Apparently irked by the unprecedented loss incurred by the firms in the sector, especially in the current financial year, stock market investors at the weekend, stressed the need for government to support listed firms under the sector with incentives in form of tax holiday and other palliatives throughout the period of the pandemic.

Indeed, the Nigerian hospitality sector, which is yet to recover from the traditional lull in…

Source: Guardian Newspaper