By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
P9O Newsletter
Join Us!

Subscribe to our newsletter and never miss our investigative stories, breaking news, podcasts etc..

Zero spam, Unsubscribe at any time.
  • Home
  • Nigeria
  • Politics
  • Metro
  • World
  • Lifestlye
  • Football
  • 2023 Election
Reading: NIPCO Plc acquires Sheraton Hotel in Abuja
Prime 9ja Online
Prime 9ja Online Prime 9ja Online
Aa
  • Africa
  • Business
  • Football
  • Metro
  • Nigeria
  • Opinion
  • Politics
  • Technology
Search
  • Categories
  • _Football
  • _Lifestyle
  • _World
  • _Metro
  • _Politics
  • _Nigeria
  • Pages
  • _About Us
  • _Contact Us
  • _Privacy Policy
Follow Us
Business

NIPCO Plc acquires Sheraton Hotel in Abuja

The Abuja Sheraton Hotel was purchased by integrated energy solutions provider NIPCO Plc exactly six years after it acquired Mobil Oil Niger...

Chima Joseph Ugo
Chima Joseph Ugo - Editor-in-chief October 10, 2022
Updated October 10, 2022 at 12:19 PM
Share
NIPCO Plc acquires Sheraton Hotel in Abuja
SHARE
NIPCO Plc acquires Sheraton Hotel in Abuja
The Abuja Sheraton Hotel was purchased by integrated energy solutions provider NIPCO Plc exactly six years after it acquired Mobil Oil Nigeria Plc, now known as 11plc, in an effort to advance its goal of diversifying into the hotel sector.

In the most recent historic agreement, Capital Hotels Plc (CHP), the company that owns the Abuja Sheraton Hotel, was acquired by NIPCO Plc's wholly-owned subsidiary 22 Hospitality Limited.

In Nigeria's oil and gas sector, NIPCO Plc. is a significant downstream operator with operations spread out over the nation.

A statement issued yesterday by the spokesman of NIPCO Plc, Alhaji Lawal Taofeek, quoted the Group Executive Director of the company, Alhaji Aminu Abdulkadir, as saying that the new investors are desirous of restoring the hotel to its former glory of being the first-choice luxury hotel in Abuja.

According to Aminu, this strategic drive is also aimed at making the hotel carve a niche for itself by becoming a leading hospitality firm offering premium services to customers, in accordance with global standards.

“The hotel is currently managed by Starwood/Marriott under various system license agreements with CHP. In the past, Starwood had acknowledged in various reports that the hotel was in a very degraded state and will require hard renovations to make it brand compliant. “However, despite the hotel’s poor condition and non-compliance with its brand standards, Marriot/Starwood has continued to manage the Sheraton Abuja Hotel, which is currently in a dilapidated and deplorable state,” the statement explained.

The statement added that the new investors are keen to turn around the fortunes of the hotel through the injection of substantial new capital under certain preconditions.

As part of the new investors’ commitment to manpower development in the hospitality industry, the statement said, plans are in the pipeline to establish a ‘Hospitality Academy’ in Nigeria in collaboration with the federal government to train Nigerian youths in various hospitality skill sets.

“This initiative is borne out of the current global shortage of trained and experienced hospitality manpower. Indeed, statistics showed that there are currently more than one million job vacancies in housekeeping, waiters, chefs, security, IT and maintenance of the hospitality industry,” the statement added.

According to the statement, the CHP Hospitality Academy will not only train Nigerians for local employment but will also equip them with the requisite expertise to seek overseas placements to fill the large volume of vacancies in other parts of the world, thereby becoming a veritable recourse in the quest to reduce unemployment in Nigeria.
Tags: Business

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share this Article
Facebook WhatsApp TwitterEmail Print

You Might Also Like

Facebook Like
Twitter Follow
Pinterest Pin
Telegram Subscribe
Prime 9ja Online

Subscribe to our newsletter to receive our latest updates instantly on your email.

About

  • About Us
  • Privacy Policy
  • Terms
  • Disclaimer
  • Fact-Checking Policy
  • Code of Ethics
  • Corrections and Correctives
  • Editorial Integrity
  • Ethical Conduct
  • Funding

Connect

  • Contact Us
  • Advertise
  • Submit a Tip

© 2025 Prime 9ja Online Media - All Rights Reserved.

Follow Us