The Lagos State Government said that the sum of N3.75 billion was lost to the illegal regulation of hotels by the Nigeria Tourism Development Corporation (NTDC) in the last six years.
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Mr Disun Holloway, the Commissioner for Tourism and Intergovernmental Relations revealed this on Wednesday in Ikeja while briefing newsmen on last Friday`s Supreme Court`s judgment on hotel regulation.
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He explained that the loss represented the revenue that would have accrued to the state from hotel licencing, grading other functions, which the NTDC usurped since 2007.
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A panel of the Supreme Court of Nigeria, led by Justice Suleiman Galadima, had on Friday unanimously declared that it was only State Houses of Assembly that could make laws on tourism or the licensing and grading of hotels and other hospitality establishments.