Hotel investor seeks better financing for construction projects

HDV Nigeria Limited, the owners of Ibis Lagos Ikeja and Lekki, have called for improved financing for construction and hospitality businesses. CEO Olufemi Okenla urged the government and banking sector to develop a project financing model that supports long-term investments. Okenla highlighted that the current financing structure places an excessive burden on private investors, who are often required to begin repaying loans before their projects generate revenue.

He argued that development banks in other economies offer discounted funding and repayment periods linked to the cash flow of projects, which should be reflected in Nigeria's financing system.

Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.