Nigerian entrepreneur, Chief Simon Eze has commended President Bola Ahmed Tinubu’s efforts in navigating significant economic changes prompted by a series of bold reforms introduced to ignite
rapid stabilization and development strategy that are capable of supporting small, medium-sized, and large businesses in the country.
Eze further noted that Tinubu is implementing a good number of transformative policies and reforms designed to address the missteps of the past administrations and that the President was ready to set Nigeria to emerge as a formidable economic superpower in the near future.
He however raised concerns on some topical issues which according to him could serve as encumberance to speedy growth for those in the hospitality value chain, while also expressing optimism that the current administration had the magic wand to turn things around in favour of Nigeria’s business owners who are also employers of labour.
Simon who is known for his success in wholesale and supply of octagonal poles of different sizes widely used in infrastructure for street lighting and utility applications, sales of solar street lights of all sizes and shapes, inverter of all sizes and capacities, solar panels of different sizes, solar batteries of different sizes including lithium batteries, other quality electronic products and equipment was now seen channeling his expertise into revolutionizing the hospitality industry, aiming to address key challenges and set new standards for service and quality in Nigeria.
This businessman of over 3 decades with integrity, has recently redoubled his attention to the hospitality sector, sharing insights into the numerous challenges faced by the industry in Nigeria. As the CEO of Seamark Electric Company Limited, his expansion into hospitality underscores his commitment to addressing broader issues within Nigeria’s hospitality value chain a and service sectors.
The owner of Golden Tree Hotel and Suites, Satellite Town Lagos highlights several pressing challenges within Nigeria’s hospitality industry, starting with inconsistent infrastructure. Frequent power outages, inadequate water supply, and poor road conditions significantly impact service quality and operational efficiency. These infrastructural deficiencies not only raise operational costs but also hinder the ability of hotels and restaurants to offer reliable services to guests.
Another major challenge is the high cost of doing business. The sector faces expensive utility bills, rising costs of goods and services, and a fluctuating economic environment that complicates pricing and profitability. For many businesses, these financial pressures make it difficult to maintain competitive pricing while ensuring high standards of service and comfort.
Security concerns also feature prominently in Chief Eze’s analysis. The prevalence of crime and the need for robust security measures create additional costs and operational complexities. Ensuring guest safety while navigating these risks is a critical concern for hospitality businesses, impacting their reputation and ability to attract and retain clients.
Moreover, Chief Eze points out the challenge of regulatory compliance. The hospitality industry in Nigeria is subject to various regulations and standards, often accompanied by bureaucratic hurdles and inconsistent enforcement. Navigating these regulations can be time-consuming and costly, posing an additional burden on business owners.
Despite these challenges, Eze remains positive and convinced about a lucrative future of the hospitality sector. “While the industry faces significant hurdles, there is a growing trend towards improvement and innovation,” Eze says. “With ongoing investments in infrastructure and a shift towards more sustainable practices, I am confident that the hospitality sector will continue to evolve and thrive.”
Commending the administration of President Bola Ahmed Tinubu, he said; “While we raise concern about the challenges faced in bussiness, I think it is also right to show gratitude to the government for creating an enabling environment for Nigeria’s bussiness climate to succeed through introduction of some bussiness-friendly reforms and other palliative measures that are capable of cushioning the effects of the current economic situation in the country so that bussiness owners can survive and make profit while also depopulating the unemployment market in the country by providing jobs for Nigerian youths.
“President Tinubu is seriously navigating significant economic changes prompted by a series of bold reforms introduced to ignite rapid stabilization and development strategy that will increase the success of small, medium-sized, and large businesses in Nigeria. We’re also aware of Tinubu’s timely initiatives through implementation of a series of transformative policies and reforms designed to address the missteps of the past administrations and this will surely make Nigeria as a formidable economic superpower in the near future.
Chief Eze also commended the Chairman of Oriade LCDA, Hon. Rasaq Akorede Olojede, which is the community where his hotel was domiciled. He thanked the Chairman for improving on the welfare of the people, provision of basic infrastructure across every nook and cranny of the community as well as making adequate measures to secure lives and properties. “Hon. Rasaq Akorede Olojede has domesticated President Bola Ahmed Tinubu’s renewed hope initiatives in Oriade LCDA. God will continue to bless him and give him the wisdom and enablement to succeed in all his endeavors for the betterment of our community.” Eze stated.
Chief Simon also predicts a positive trajectory for the industry, noting that over the past decades, the hospitality business in Nigeria has experienced substantial growth. “From emerging boutique hotels to upscale restaurants and resorts, the sector has expanded rapidly,” he explains. “I anticipate that this growth will continue as more stakeholders recognize the potential of Nigeria’s vibrant hospitality market and contribute to its development.”
As a leading figure in Nigeria’s bussiness climate and hospitality sector, Eze’s insights offer a valuable perspective on the complexities of the industry and the potential for future growth and improvement.
“One thing is clear, in every challenge there is one unique opportunity hiding somewhere, for us we would redouble our commitment at Seamark Electric and Golden Tree Hotel and Suites to expand our capacity and vigor so as to create positive impact in our country, support our government policies and reforms and continue to make relationship with constituted authorities more symbiotic and memorable. To our team and every customer who makes what we do possible. We say thank you and God bless you more,” Eze stated.
