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5 Reasons Nigeria’s Festival Business Is Thriving

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eluku festival in ikorodu

By Nkem Ndem

From stunning white masquerades at Eyo to the week-long festival held in honour of the river goddess, Oshun, Nigeria is home to some of Africa’s greatest festivals. Each year, locals and tourists from neighbouring countries and abroad, flock to events across the continent to witness and participate in festivals that showcase the religious history, music, art, indigenous folklore and cultural heritage of the nation.

While these festivals, of course, celebrate tradition, heritage and the rich history of the people through colourful attires, artistic expositions, and intriguing traditional rites, they also mean good times for performers, visitors and local businesses. Among the largest is the Calabar carnival which usually features as many as 50,000 costumed participants and attracted more than 2 million spectators last year. In what seems to be almost a decade, Nigeria has witnessed a consistent growth in the festival business and Jumia Travel gives five reasons for this.

Festivals mean big business for locals. From cultural to music festivals, these events form an important income stream for local communities and the host regions. They not only bring people together and get infrastructure built, they create jobs and if executed rightly, local businesses are at the centre of the creation of these types of events. With the increasing business opportunities for the events organizations and local businesses, there has been a sort of revolution in festivals in the commercial aspect.

Sponsors are now paying millions to brand festivals. Initially, festivals were done on low key, especially cultural festivals. However, today awareness for such events is now done on a large scale. From billboards, radio jingles and even ticket sales, a lot of strategies are now put in place to create massive awareness and captivate the target audience. These new strategies being adopted are made possible because sponsors and advertisers are willing to spend millions of dollars to target what they know is a truly captive audience. With donations from Telecoms such as MTN, GLO and AIRTEL to companies such as Indomie, UAC, Dangote and NGOs, festival sponsorship spending has been growing exponentially over the last couple of years, consequently leading to a boom in the Nigerian festival business.

Technology and Social Media Buzz

Technology has played a huge role in the boom of the festival industry in Nigeria. In addition to the fact that there have been advances in data gathering and analysis as well as wireless technology which have vastly improved how these festivals are planned and managed, Social Media has played a huge role in the marketing and promotions, as fans build communities online flood their social media feeds with photos, videos and posts highlighting festival fashion, top performances and more; sharing their excitement far and wide. The publicity and social media buzz drive help inspire others to attend these festivals, leading to a significant growth in the festivals business.

Media Coverage

The media coverage of these events has played a huge role in shaping the way these events are seen not just within the country, but around the world as it is hard to tell how many millions of people see it. The minds of these people who get to read about these events in the media and watch them on television are automatically shaped to envision the events as an avenue for fun. This propels them to plan, attend and invest in future events.

Millennial Are Driving Attendance

It is no secret that Millennial in Nigeria, who make up a large percentage of the population, would trade almost anything for the thrill of an experience, especially shareable, personalized experiences. These festivals feature everything that appeals to them, from music, alcohol, highly-shareable moments and a community of fans to a break from the hustle and so they are keen on driving. Their involvement in different aspects (including buying festival tickets, attending festivals e.t.c) has directly or indirectly also led to a growth in the country’s festival business.

Nkem Ndem is a PR Associate at Jumia Travel.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

Travel/Tourism

End of Greece’s Golden Visa Could Curb Increasing Migrant Population

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Greece Golden Visa

The latest analysis from Astons, reveals that Greece has seen a 14.6% increase in migrants settlers over the past 10 years, with almost 25,000 Americans settling in the Mediterranean paradise in 2024 alone. However, this trend could soon reverse, with rumours that Greece is set to call time on its Golden Visa offering.

Astons has analysed International Migrant data from the United Nations* and found that, in 2024, more than 1.4m migrants settled in Greece, marking a ten-year increase of 14.6% since 2015.

The largest proportion of migrants arrived from the European continent (913,652), followed by Asia (372,146), Africa (68,690), and North America (38,416).

On a national level, Greece welcomed the largest number of people from Albania (474,441), followed by Germany (123,912), Georgia (90,365), Bulgaria (90,365), and Russia (78,992).

Meanwhile, 24,748 migrants resettled in Greece from the USA, and 19,156 arrived from the UK, marking a ten-year increase of 8.6% in both instances.

Many migrants looking to settle in Greece opt for the nation’s Golden Visa as a pathway to gaining residency and figures from Astons show that an estimated 8,837 applications were made in 2024 – the highest number seen since 2019.

However, this could be about to change, as Astons has seen a sharp increase in activity so far this year, driven by investor urgency around rumours that Greece is set to withdraw its Golden Visa offering.

Citizenship, residence permit, and real estate investment expert for Astons, Alena Lesina, said, “Greece has become one of Europe’s most in-demand destinations for migrants from all over the world, but residency in the country is certainly most desirable for the ultra-wealthy due to its investment potential and favourable expat tax rules, which explains why almost 25,000 Americans have chosen to settle there in the past year alone.

“There are some rumors, but no official confirmation. However, we understand that the situation in any country with a Golden Visa program can always change. The European Commission is putting significant pressure on countries offering Golden Visas, and internally, there is growing tension related to the need to address housing issues.

“History shows a clear trend – Ireland’s Golden Visa was discontinued, Spain’s program will officially end on April 3 this year. Last year, Portugal removed the real estate investment option from its program. In 2022, the UK also shut down its Tier 1 investor program.

“For now, Greece is maintaining its program and we can reasonably expect that it will remain in place for at least another year. However, it’s best not to delay making a decision for too long in case they decision is made to call time on Greece’s Golden visa.”

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Mutfwang Renews Support for Strom Infrastructure’s Revamp of Hill Station Resort

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Hill Station Resort

The Governor of Plateau State, Mr Caleb Mutfwang, has assured full government support for the N8.5 billion Hill Station Resort revitalization project, embarked on by Hillside Hospitality Limited, an investee company of Strom Infrastructure Investments and Management Limited. The renewed commitment came during a high-level stakeholder engagement meeting aimed at accelerating the historic resort’s transformation.

Speaking through the Secretary to the State Government, in Jos, Plateau State, on Monday, Mr Samuel Jatau, Governor Mutfwang emphasized the project’s significance to Plateau’s development agenda.

“The people of Plateau are diligent, hardworking, and committed. We will support and patronise this development to ensure its success,” he said.

The ambitious project, set to commence construction in March 2025, represents a strategic partnership between the Plateau State Government and Hillside Hospitality Limited. Following the signing of the Heads of Terms Agreement in July 2024, the initiative aims to restore the 1938 structure while introducing modern amenities and luxury facilities.

Speaking on the project’s vision, the Director of Hillside Hospitality Limited, Mr Kolapo Joseph, described the Hill Station project as a groundbreaking initiative that seeks to transform hospitality and tourism in Plateau State.

“This project is about more than just revitalisation, it is a dedicated effort to honour Hill Station’s rich heritage while introducing world-class hospitality standards.

“Our vision is to create a destination that seamlessly integrates luxury, culture, and nature, ensuring an exceptional experience for visitors in the heart of Jos.

“We recognise that Plateau State holds immense potential as a hospitality hub, and we are committed to working closely with all stakeholders to ensure this transformation drives economic growth, generates employment, and instils a renewed sense of pride in the community.

“Through collaboration and strategic investment, we aim to develop Hill Station Resort into a landmark destination that reflects the very best of Nigerian tourism,” he stated.

Mr Joseph expressed gratitude for the continued support from the Plateau State Government and private sector partners, adding: “This is not just an investment in infrastructure; it is an investment in Plateau’s future. We are creating a resort that will attract business and leisure travelers alike, unlocking new opportunities for the local economy while preserving the unique identity of this historic site.

“With the right partnerships, we will position Plateau State as a premier global tourism destination, one that showcases its rich cultural heritage and natural beauty to the world.”

In his remarks, another Director of Hillside Hospitality, Mr Hakeem Condotti, highlighted Strom Infrastructure’s deep connection to Plateau State through its involvement with NESCO Nigeria.

“This investment demonstrates our commitment to preserving and enhancing historical landmarks while driving economic growth in the region,” he said.

The revitalized resort, scheduled for commissioning in the fourth quarter of 2025, will feature state-of-the-art conference facilities, premium accommodations, and leisure amenities, positioning Jos as a premier destination for business and leisure travel.

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Emirates, Air Peace Seal Interline Deal for Frictionless Single-Ticket Travel

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Emirates Air Peace Seal Interline Deal

By Aduragbemi Omiyale

Two major airlines operating in the Nigerian airspace, Emirates and Air Peace, have signed an interline agreement to allow passengers enjoy frictionless single-ticket travel and simplified baggage throughput.

This deal will enable passengers flying from the United Arab Emirates (UAE) to Nigeria enjoy onward connections to Asaba, Akure, Benin City, Calabar, Enugu, Ilorin, Kaduna and Owerri, Abuja, Kano, Uyo, Port Harcourt and Warri.

Emirates operates the Dubai-Lagos route with a Boeing 777-300ER and some of its passengers continue their journeys to the above cities through other airlines, but with this interline agreement, when they land in Lagos, Air Peace will move them to the other cities with ease,

“Emirates is a steadfast partner of Nigeria’s tourism, trade and aviation sectors. This partnership with Air Peace is the next step on this journey, bolstering our connectivity and introducing more travel options for corporate leisure, and travellers visiting friends and family to and from Nigeria.

“We look forward to deepening our strategic partnership with Air Peace in the future to enhance the benefits for our mutual customers,” the Deputy President and Chief Commercial Officer for Emirates, Adnan Kazim, said.

Also commenting, the Chief Operating Officer of Air Peace, Ms Oluwatoyin Olajide, said, “We are excited about this strategic interline partnership between Air Peace and Emirates, which is a significant step towards enhancing global connectivity for Nigerian travellers.

“It aligns with our mission to provide seamless, world-class travel experiences while expanding our route network and international reach.

“This collaboration not only expands Air Peace’s international reach but also offers Nigerians arriving from Dubai seamless access to key domestic destinations, including Asaba, Akure, Benin City, Calabar, Enugu, Ilorin, Kaduna, and Owerri.

“By improving ease of travel, we are boosting business, tourism, and trade opportunities, further strengthening economic ties between Nigeria and the UAE.

“This partnership also reinforces Nigeria’s aviation sector by enhancing connectivity, efficiency and positioning our country as a critical hub for regional and global travel. At Air Peace, we remain committed to providing greater connectivity, convenience, and world-class service for our passengers.”

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