The Nigerian Bar Association Section on Business Law (NBA-SBL) Travel, Tourism and Hospitality Committee is expanding its commercial law focus to Nigeria’s emerging investment frontiers, with emphasis on tourism as an alternative asset class.
The committee unveiled its Uyo 2026 Tourism Retreat and Roundtable at a press conference, highlighting the need for direct legal intervention, regulatory reform and capital allocation in an industry that has historically received less investment attention than oil and gas.
The retreat is scheduled to hold from October 1 to 4, 2026, at Ceedapeg Hotels, Uyo, Akwa Ibom State, under the theme, “Unlocking Investment in Nigeria’s Travel, Tourism and Hospitality Sector: The Role of Data and Innovative Financing.”
Setting the tone for the event, NBA-SBL Chairman Baba Alokolaro acknowledged the initial curiosity surrounding commercial lawyers’ interest in tourism, describing the connection as strategic and commercial as Nigeria seeks alternatives to traditional oil dependence.
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Alokolaro urged market participants to look beyond Lagos State, identifying Uyo as a potential base for regional development.
He stressed that the retreat would go beyond destination marketing to examine the policies, statutory frameworks and transaction structures required to make tourism assets bankable.
The NBA-SBL chairman noted that participants would examine recent statutory amendments in Akwa Ibom State and their implications for investment, cross-border deal structuring and local economic development.
Addressing whether previous bar advisories had influenced policy changes, Alokolaro distinguished between the section’s advisory role and government implementation, describing regulatory adoption as an ongoing process.
The Chair of the Travel, Tourism and Hospitality Committee, Kemi Afesojaye, emphasised that sustainable sector growth required formal transaction architecture rather than natural assets alone.
Afesojaye maintained that realising Nigeria’s tourism potential required reliable data, structured capital and rigorous legal due diligence to mitigate investment risks and establish viable project finance frameworks.
She said the retreat would provide an opportunity for legal practitioners, investors, policymakers and other stakeholders to examine practical approaches to unlocking investment in the travel, tourism and hospitality sector.
The Nation