The Managing Director of Travelden, a subsidiary of Finchglow Holdings Ltd., Mr. Gbenga Onitilo, has raised alarm over the sharp rise in prices ahead of this year’s Yuletide festivities, popularly known as Detty December, warning that the trend is threatening Nigeria’s holiday tourism appeal.
Speaking with journalists in Lagos, Onitilo decried the wave of overpricing across key hospitality and entertainment sectors, noting that hotels, short-let apartments, bars, restaurants and even event organisers are now charging in foreign currencies and pushing rates far above normal seasonal adjustments.
According to him, the unreasonable surge—which in some cases has seen prices climb up to six times the usual cost—is forcing many holidaymakers, especially Nigerians in the diaspora, to seek more affordable destinations across Africa, including Ghana and Rwanda.
“What we have witnessed so far is pricing being taken out of order,” he said. “Bars, restaurants and hotels are charging triple their normal rates. Show tickets are priced far beyond what is reasonable, and many providers are now basing their charges on forex rather than the country’s economic realities.”
Onitilo warned that the trend poses a serious threat to Nigeria’s holiday economy, as visitors are increasingly opting for alternative destinations with more stable and transparent pricing.
“For this year’s Detty December, one of the major challenges is overpricing. Even hotels and apartments with available rooms have hiked their rates excessively because they are targeting visitors spending foreign currency. It’s an issue government needs to look into,” he added.
He urged the government to introduce regulatory measures and collaborate with industry stakeholders to safeguard the festive season’s value, ensure price fairness and maintain Nigeria’s reputation as a top holiday destination.
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