Coronavirus events centre operators to lose over n800m monthly revenue

Coronavirus: Events Centre Operators to Lose Over N800m Monthly Revenue

The outbreak of the coronavirus pandemic has dealt a significant blow to the events centre industry in Nigeria, with operators expected to lose over N800 million (approximately $2.2 million) in monthly revenue.

According to a report by the Nigerian Events Centre Operators Association (NECOA), the pandemic has led to a significant decline in the number of events being held at events centres across the country. This is due to the government's ban on large gatherings and the general fear of contracting the virus.

The report states that events centres in major cities like Lagos, Abuja, and Port Harcourt are currently operating at less than 20% capacity, resulting in a significant loss of revenue for operators.

"We are facing a major crisis in the events centre industry," said the President of NECOA, Mr. Olumide Oladapo. "The pandemic has disrupted our business and we are struggling to stay afloat. We are losing millions of naira every month and it's affecting our ability to pay our staff and suppliers."

The report also highlights the impact of the pandemic on the economy, with the events centre industry being a significant contributor to the country's GDP.

"The events centre industry is a major employer of labour and a significant contributor to the country's GDP," said Oladapo. "If we are not able to recover from this crisis, it will have a ripple effect on the entire economy."

To mitigate the impact of the pandemic, NECOA is calling on the government to provide support to the events centre industry, including financial assistance and tax relief.

"We are urging the government to provide support to the events centre industry to help us recover from this crisis," said Oladapo. "We need financial assistance and tax relief to help us stay afloat and continue to operate."

The Nigerian government has already taken several measures to contain the spread of the coronavirus, including the closure of schools, places of worship, and non-essential businesses. However, the events centre industry is still struggling to recover from the impact of the pandemic.

In conclusion, the coronavirus pandemic has dealt a significant blow to the events centre industry in Nigeria, with operators expected to lose over N800 million in monthly revenue. The industry is calling on the government to provide support to help it recover from this crisis.