The Nigerian Tourism Development Corporation (NTDC) has announced that it is changing its name to the Nigerian Tourism Development Authority (NTDA).
The Director-General of the agency, Mr. Folorunsho Coker, stated this in Abuja on Friday.Coker said that the name change was effected with the passage of the Nigerian Tourism Development Authority Act.
“The new law is speaking of temporary issues in tourism. It is not a draconian law. It is a collaboration between states and Federal Government in driving revenue in the tourism and hospitality industry.
“It is about tourism trust fund which is now a vehicle in use to invest in tourism assets. We must understand that if the laws are not right, investments will not come in.
“The operation of an old law in a dynamic environment that is constantly changing will not get us to where we want to be. Dubai, South Africa, and Kenya amended their laws during COVID-19 pandemic and they thrived, but we did not.
“However, I will do a comprehensive break down of the new law and share it with the 36 states. I will invite the 36 Commissioners of tourism to Abuja, so that we can sit down, discuss, reach an agreement, and take it to the next level.
“If you could recall, fantastic legal frameworks were given to the telecommunication and banking sector and we had positive results.
It is time for tourism to flourish with the help of the new law.
Coker commended the various stakeholders who worked towards the passage of the law.
“I want to thank those that made the new law possible. NTDC is now NTDA, and it is going to be a different ball game that will sanitised the sector and generate huge revenue to the country,” Coker stressed.
Meanwhile the Head of Legal Unit of the agency, Mrs. Funebi Otu Umondak explained that the old law was over 20-year-old, adding that it is obsolete and not helping the agency and tourism industry.
