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Tourism potential of the confluence between river Niger and river Benue in Nigeria: implication for project finance

Author

Listed:
  • Alfred Ayodele Meseko

    (Peoples Friendship University of Russia)

  • Davison Iheanyi Obieje

    (University of Salford Machester)

  • Oksana Karpenko

    (Peoples Friendship University of Russia)

Abstract

Introduction This research proposes the development of the confluence of river Niger and river Benue in Nigeria as a viable international tourist center. Case description The confluence of river Niger and river Benue in Lokoja Nigeria, is the site proposed for intervention. The study recommends the use of the mechanism of project financing for the funding of the project by the government. Discussion and Evaluation. Existing studies indicates that inadequate empirical data on viability of investments in most tourism destinations in Nigeria has been a challenge to investors as well as policy makers. Using the case study method which also included actual site visitation for on the spot assessment, this paper attempts to provide information on the prospects of tourism development in Lokoja town of Nigeria by simulating real-world scenarios. The research found that investments in tourism in Lokoja town has better viability prospects with the application of Project finance models of Management Contract and Forfeiting Contract. Conclusion The study showed that the confluence of river Niger and river Benue can be developed based on the methods outlined above and that the project can be a great benefit to tourists, investors and the government.

Suggested Citation

  • Alfred Ayodele Meseko & Davison Iheanyi Obieje & Oksana Karpenko, 2018. "Tourism potential of the confluence between river Niger and river Benue in Nigeria: implication for project finance," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 8(1), pages 1-14, December.
    • Handle: RePEc:spr:jglont:v:8:y:2018:i:1:d:10.1186_s40497-018-0092-8
    DOI: 10.1186/s40497-018-0092-8
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    References listed on IDEAS

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    1. Irina-Virginia Dragulanescu & Maricica Drutu (Ivan), 2012. "Rural Tourism for Local Economic Development," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 2(Special 1), pages 196-203, May.
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