Nigeria To Float Tourism Development Fund

NairaThe Federal Government of Nigeria is currently planning to float a Tourism Development Fund, as one of the steps aimed at tackling paucity of funds that hinder the development of the tourism sector.

The Permanent Secretary, Ministry of Culture, Tourism and National Orientation, Mrs Nkechi Ejele, hinted reporters of the plan, after briefing the President on the ministry’s activities.

She identified inadequate infrastructure, lack of funds and lack of national carrier, as some of the factors inhibiting the development of tourism in Nigeria.

She said the President had assured her that he would mainstream culture and tourism into his administration’s economic agenda.

“We discussed about funding problem and the President has now advised that we should establish Tourism Development Fund to help in the growth of the sector.

“All over the world, tourism is not funded by the government. It has become unfashionable for tourism to depend on government for its funding, hence the need to develop the development fund,” she explained.

Madagascar Names New Minister

madagascar
Hery Rajaonarimampianina says government is ready to alleviate poverty

Madagascar President, Hery Rajaonarimampianina, on Sunday announced the replacement of eight ministers, including a new finance minister, after dissolving the government earlier this month amid mounting public frustration over power and other issues.

Air force commander and businessman, Jean Ravelonarivo, was sworn in as the new premier.

There were innovations in the Ministries of health, culture, trade among others. While 22 other ministers maintained their jobs.

Maurice Gervais Rakotoarimanana, an accountant who has worked with the World Bank, would be the next Minister of Finance and budget.

The president said in a press conference that special attention would be given to building the energy sector saying, “This government is ready to fight. Ready to fight against poverty, ready to fight for the development of infrastructure, for education, for health”.

The mineral-rich island nation has been struggling to rebuild its economy which was crippled after a coup in 2009 that drove away donors and investors.

A peaceful election in 2013 has redeemed the nation a bit, but it is still struggling to impose stable government and economic. Challenges remain such as weaning the nation off fuel and electricity subsidies.

According to analysis by the International Monetary Fund released last week, Madagascar’s economy boosted about 3 percent in 2014, and could also increase by 5 percent this year if it can increase tax revenue and improve the business climate.

Madagascar is one of the world’s poorest countries, despite its reserves of nickel, cobalt, gold, uranium and other minerals.