The events industry in Nigeria is evolving rapidly. Event planners, conference organizers, and office administrators face unprecedented pressures that demand innovative solutions. As a venue provider, we witness these challenges firsthand and continuously adapt our services to help planners succeed. Here are 10 current challenges facing event professionals, with strategic solutions from a venue provider’s perspective: 1. Post-COVID Capacity and Safety Protocol Management In our post-COVID world, event planners navigate complex attendance protocols amid ongoing health concerns and varying corporate policies on in-person gatherings. Smart planners stay updated with state event attendance guidelines and partner with venues offering flexible capacity options, innovative hybrid setups with seamless livestreaming capabilities, and transparent sanitization protocols. Choose venues that share your professionalism and can quickly reconfigure spaces while providing detailed safety documentation to reassure organizers and attendees. Review and book venues that support events with visible fire exits, medical response access, and documented safety certifications. 2. Budget Constraints and Cost Inflation Corporate budgets have tightened while venue costs, catering, and AV equipment have increased significantly. Inflation and currency fluctuations make budget adherence increasingly difficult. Consider venues offering all-inclusive packages that eliminate hidden fees and provide predictable pricing. Flexible venue packages bundling catering, AV, and […]
1. Economic and Currency Challenges The naira’s volatility makes pricing international travel packages extremely difficult, as rates can shift dramatically between booking and travel dates, affecting profit margins and client budgets. Travel agents need to hedge against FX volatility by listing rates in USD but receiving full payment in NGN equivalent at the time of payment, encouraging discounts for FX payments, and working with bank relationship managers to free up liquidity. Debt recovery is difficult due to slow legal systems, making upfront payments and solid contracts essential—don’t risk your business even with long-term customers. 2. Domestic Tourism Growth & ‘Bleisure’ Opportunities With international travel having higher costs and complexity, many Nigerians are exploring domestic destinations. Travel agents should exploit this trend which offers larger volumes, higher margins, and zero currency exchange risk. The “bleisure” trend—combining business and leisure—is rising among domestic and regional professionals. Consider creating specialized packages for destinations like Calabar, Abuja, or emerging spots like Yankari Game Reserve. 3. Infrastructure and Transportation Issues Lagos traffic congestion can cause clients to miss flights, while unreliable power supply affects office operations. Secure partnerships with hotels near airports to assist with accommodation, logistics support, long-term parking, excess luggage storage, and early/late […]