Fatshimetrie is set to make history with a colossal investment of nearly $9 billion to build six ultra-luxury cruise ships under the IPADA Carnival 2024 initiative.
Details of the massive investment, agreed with the African Diaspora Central Bank (ADCB), indicate that the money will be allocated to build four cruise ships in Nigeria, showcasing the country’s growing industrial capabilities and strengthening its position as the largest economy on the African continent.
The remaining two ships will be built in the Caribbean, symbolizing the strong ties being forged between Africa and the global African diaspora. In addition, the IPADA initiative also plans to establish a chain of African-themed luxury resorts across the Caribbean, thereby promoting intercontinental tourism.
This significant financial injection, aimed at promoting tourism and strengthening economic ties with the African diaspora, heralds a new era for Nigeria and Africa as a whole.
The inclusion of the AKL Lumi, the regional currency of the Central Bank of the African Diaspora, in this initiative, underscores the significant economic impact this project will have on Nigeria and the African continent as a whole.
The IPADA Carnival 2024 is the dream of the project’s promoter, Otunba Wanle Akinboboye, who wants the descendants of Africans taken on slave ships from Africa to Europe and the Caribbean to return to their ancestral lands aboard modern and luxurious vessels.
The official launch of the IPADA initiative, scheduled for November 29 to December 8, 2024, is being hailed as a transformative moment for Africa. The event, which will be held at La Campagne Tropicana Beach Resort in Lagos, promises to attract heads of state and high-level dignitaries from across Africa, as well as eminent personalities from the global African diaspora.
President Bola Ahmed Tinubu, who is also the Chairman of the Economic Community of West African States (ECOWAS), is the Grand Patron, Chief Host and Global Ambassador of this historic initiative that is expected to make a difference in the development and promotion of Nigerian and African tourism and economy.
Tinubu recently met African envoys in Nigeria during a presidential briefing on the IPADA initiative to brief them on the project and solicit their cooperation and participation in the event.
One of the most remarkable aspects of the IPADA initiative is the integration of AKL Lumi into the Nigerian economy. AKL Lumi, a hybrid regional currency backed by solar and gold issued by ADCB, is set to become a crucial financial tool to foster economic growth across Africa.
For Nigeria, the integration of this currency means increased access to investment capital and an increased capacity to finance large-scale tourism projects, such as luxury cruise ships and resorts under the IPADA initiative.
The use of AKL Lumi in Nigeria’s tourism and investment sectors is expected to create a ripple effect across the economy. By using a stable currency backed by renewable resources, Nigeria can attract more direct investment from the diaspora, boosting not only tourism but also other crucial industries such as infrastructure, technology and energy.
The IPADA initiative, supported by AKL Lumi’s $9 billion investment, represents a turning point for Nigeria’s tourism industry. By positioning itself as the main entry point to Africa for the African diaspora and Africa lovers, Nigeria is set to attract a new wave of visitors, investments and business opportunities. This initiative will not only create new revenue streams for the country but will also establish Nigeria as a leader in African tourism, with Lagos and Abuja as the premier destinations for global travellers.
For Africa as a whole, the IPADA initiative signifies the advent of a new tourism-led super-economy. By leveraging the economic power of the global African diaspora, Africa can unlock multi-trillion dollar growth opportunities in the tourism and related sectors.
As the official launch of the IPADA Carnival approaches in November 2024, it is clear that Nigeria’s tourism sector is on the verge of a major transformation. With visionary leadership, strategic investments and the support of the African Diaspora, Nigeria is poised to become a global tourism hub and a shining example of Africa’s economic potential.
Speaking at the presidential briefing on the IPADA initiative, Akinboboye, who is also the Chairman and Founder of La Campagne Tropicana Beach Resort, noted: “By bringing together all the tourism products of the African continent and putting them together, no other country or continent will be able to compete with us.”