AKL Lumi is set to invest approximately $9 billion for the construction of six ultra-luxurious cruise ships as part of the IPADA Initiative/Carnival 2024. This significant investment, contracted with the African Diaspora Central Bank (ADCB), aims to enhance Nigeria’s industrial capabilities by building four of the cruise ships domestically, while the remaining two will be constructed in the Caribbean, fostering stronger ties between Africa and the global African Diaspora.
The initiative also includes plans to establish a series of African-themed luxury resorts across the Caribbean, further promoting cross-continental tourism. This financial commitment is viewed as a transformative step for Nigeria and Africa, emphasizing the potential for economic growth through tourism.
The integration of AKL Lumi and the ADCB’s regional currency into this initiative highlights the extensive economic impact anticipated from the project. The IPADA Initiative, conceptualized by Otunba Wanle Akinboboye, envisions a journey for descendants of Africans who were forcibly taken to Europe and the Caribbean, allowing them to return to their ancestral roots aboard modern luxury cruise ships.
The official launch of the IPADA Initiative is scheduled for November 29 to December 8, 2024, at the La Campagne Tropicana Beach Resort in Lagos. This event is expected to attract heads of state, dignitaries, and influential figures from the African Diaspora, marking a pivotal moment for the continent.
President Bola Ahmed Tinubu, who serves as the Grand Patron and Chief Host of the initiative, is actively engaging with African envoys in Nigeria to promote participation and cooperation in this historic event, which aims to significantly boost Nigerian and African tourism and economic development.