Lagos is the 7th largest economy in Africa and is expected to grow even bigger as it has become an oil-producing state in the first half of 2016 and represent 13% of the revenues generated by the government through its oil. A number of hotels have opened in 2016 and a lot more are scheduled to open over the next 8 years adding over 3,000 rooms all over the country. The companies involved are Starwood Hotels & Resorts, Marriott International, Hilton Worldwide, Movenpick Hotels & Resorts, Rotana and BON Hotels.
Not only the biggest players in the hospitality industry are interested in Lago's future, but also various international figures showed interest in 2016 by visiting the city, the country and its president. Managing Director of the International Monetary Fund, Christine Lagarde, came to Nigeria to strengthen the partnership, meet and engage with business leaders, legislators, President Buhari and other senior leaders. King Mohammed VI of Morocco went to the country to strengthen the bilateral cooperation and Mark Zuckerberg, CEO of Facebook, surprised Lagos with a visit in August 2016 to meet with entrepreneurs and developers and to learn about the “start-up ecosystem” in the city.
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