The National Institute for Hospitality and Tourism (NIHOTOUR) has conferred the award of Fellow of the Institute on Otunba Biodun Ajiboye, the Executive Secretary/CEO of the National Institute for Cultural Orientation (NICO) and nineteen others.
At the NIHOTOUR Maiden Induction ceremony held in Abuja on Thursday, May 14, 2026 with the theme “Professional Regulation as a Catalyst for Service Excellence and National Development”, Otunba Ajiboye who doubled as Guest Speaker, presented a thought-provoking paper titled “Culture: A Phenomenon in the Search for Economic Salvation of Nigeria”.
In his presentation, Ajiboye while identifying culture as one of the realistic pathways towards diversification of Nigeria’s economy and national rebirth, maintained that culture remains the soul of a people, their identity, enterprise, influence and economic power but regrettably, we see it as mere entertainment rather than investment while other countries of the world have transformed their cultural assets into economic prosperity.
“For too long, we have viewed culture as entertainment rather than investment; as tradition rather than industry. Meanwhile, advanced nations across the world have quietly transformed their cultural assets into economic empires. Today, countries earn billions of dollars annually from tourism, films, music, fashion, food, festivals, heritage sites, and digital creative content. Nigeria possesses all these assets in abundance”.
“Nigeria’s greatest wealth does not necessarily lie beneath the soil. Before crude oil became dominant, culture was already sustaining economies and civilizations. From the colourful festivals of the South-West, to the rich cuisines of the South-South, the artistic heritage of Benin, the hospitality traditions of Northern Nigeria, the creative energy of our youths, and the global appeal of Afrobeats and Nollywood, Nigeria is sitting on a cultural goldmine. Yet, sadly, we continue to depend almost entirely on oil revenues while neglecting the limitless opportunities embedded within our cultural economy”.
Also highlighting the importance of cultural digitization in modern age where nations monetize content, identity, and experiences online at unprecedented levels, Otunba Ajiboye said the time has come for Nigeria to embrace global digital platforms to generate enormous revenues by simply packaging and distributing human creativity and interaction.
“Nigeria cannot afford to remain a consumer nation in the global digital cultural economy. At NICO, we strongly believe that culture must move from the local stage to the global marketplace. This is why efforts are ongoing to develop digital cultural platforms capable of showcasing Nigerian heritage, indigenous knowledge, creative content, tourism assets, and cultural experiences to global audiences”, he said.
Honourable Minister of Art, Culture, Tourism and the Creative Economy, Barrister Hannatu Musa Musawa who was also part of the awardees, said the event marked the beginning of a new era where tourism and hospitality will be repositioned as a vehicle for economic diversification and employment generation and therefore charged stakeholders in the tourism and hospitality sector to embrace professionalism and accountability in a bid to build a standard and global competitiveness and the responsibility for Nigeria’s tourism and creative economy ecosystem to thrive.
Caleb Nor
Media Asst.-ES
NICO, Abuja
