Nigeria’s tourism sector holds immense potential for economic growth, job creation, and community empowerment. With its rich cultural heritage, diverse landscapes, and vibrant communities, Nigeria can leverage tourism entrepreneurship to drive sustainable development. However, despite this potential, significant challenges persist. Gaps in infrastructure, financing, regulatory frameworks, and security concerns create an uncertain start for aspiring entrepreneurs. This study investigates the key obstacles and opportunities for tourism entrepreneurship in Nigeria, analyzing real-world success stories, emerging trends, and best practices to uncover actionable insights. Using a comprehensive literature review and case study analysis, the study identifies major impediments such as inadequate access to finance, skill gaps, complex regulations, and cultural barriers. However, findings reveal that successful tourism entrepreneurs have navigated these challenges through innovation, strategic partnerships, and government support. The integration of technology, digital platforms, and ecotourism has emerged as a crucial factor in overcoming these barriers. To unlock tourism entrepreneurship’s full potential, a collaborative effort among policymakers, private-sector actors, educational institutions, and international organizations is essential. By investing in infrastructure, regulatory reforms, and sustainable practices, Nigeria can transform its tourism sector into a thriving economic driver. A strategic focus on innovation and entrepreneurship will enable Nigeria to harness its tourism potential, create jobs, and achieve long-term economic and social impact.