Tinubu reopens Premier Hotel – Freedom Online

President Bola Tinubu has reaffirmed his administration’s commitment to harnessing tourism and hospitality as key drivers of economic growth, job creation and regional development.

Tinubu, represented by the Secretary to the Government of the Federation (SGF), George Akume, stated this while commissioning the renovation of the Premier Hotel in Ibadan, Oyo State.

Premier Hotel is owned by Odu’a Investment Company Limited.

The President described the project as a landmark achievement that underlined the commercial, cultural and strategic importance of Ibadan and Oyo State within the Nigerian federation.

He said the reopening of the iconic hotel demonstrated what could be achieved when vision, strategic investment and focused leadership converged in the pursuit of shared prosperity.

“Today what we celebrate is not just the reopening of a hotel, but the restoration of a treasured asset and national identity.

“The transformation and modernization of this structure reminds us that heritage must not be abandoned but preserved, renovated and adapted to contemporary realities,” he said.

Tinubu noted that the Premier Hotel, located on Mokola Hill in Ibadan, has for decades been a destination for statesmen, diplomats, entrepreneurs, tourists and other visitors.

This, he said, made it a symbol of excellence and regional cooperation.

He commended the governments of the six South-West states, shareholders of Odu’a Investment Company Limited, for their commitment to repositioning the regional conglomerate as the premier investment institution.

Tinubu said tourism and hospitality hold a strategic place in the Renewed Hope Agenda.

He noted that the sectors offer immense opportunities for economic diversification, foreign exchange earnings, cultural diplomacy and urban renewal.

He said the Federal Government (FG) is investing in transport infrastructure, digital services, improved connectivity and public-private partnerships to attract investment in tourism-related businesses.

“Projects like Premier Hotel fit perfectly into this national mission.

“It creates employment opportunities for our young people, stimulates local businesses, supports cultural tourism, attracts visitors and directly contributes to economic growth,” he said.

The president also highlighted how regional development commissions are accelerating infrastructure, attracting investment and driving economic integration across the country.

He said the recently established South West Development Commission will work with state governments, development institutions and private investors to unlock opportunities in tourism, agriculture, technology and industrial development.

On security, Tinubu assured Nigerians that his administration remains committed to countering kidnappings and other criminal activities through increased intelligence gathering, improved interagency collaboration and technological surveillance.

He urged citizens, community leaders and religious organizations to support the government’s efforts to ensure peace and security across the country.

Tinubu also noted that relentless efforts were underway to rescue Oriire victims.

According to him, economic reforms are yielding positive results: improving investor confidence, increasing strategic investments and renewing momentum in key sectors of the economy.

He added that the transformed Premier Hotel symbolizes confidence in Nigeria’s future and called on local and foreign investors to take advantage of the opportunities available in the country.

Earlier, Governor Lucky Aiyedatiwa of Ondo State had described the project as a testament to the enduring strength of economic partnership between the South-West states.

Aiyedatiwa, speaking on behalf of shareholder states, said the outcome affirmed the potential of regional economic cooperation in unlocking economic transformation and sustainable development.

He congratulated the management and stakeholders of Odu’a Investment Company Limited for successfully completing the project.

He also expressed confidence that the hotel will remain a beacon of regional pride and economic prosperity for generations.

Also, the Group Chief Executive Officer, Odu’a Investment Company Limited, Abdulrahman Yinusa, said the appointment marked a significant milestone in the history of the South West region and Nigeria at large.

“The Premier Hotel is a historic institution that was once a favorite destination for business leaders, families and visitors seeking quality hospitality.

“Faced with deteriorating infrastructure, Odu’a Investment Company Limited chose to revive rather than abandon the iconic structure,” Yunusa said.

Chairman of Odu’a Investment Company Limited, Otunba Bimbo Ashiru, said Premier Legacy Limited was established in 2022 as a joint venture to reposition and modernize the hotel as a world-class hospitality destination.

“The goal was to create a five-star hospitality facility capable of hosting international conferences, global leaders and showcasing Southwest culture,” he said.

He added that the commissioned section of the hotel will be fully operational by the fourth quarter of 2026.

According to him, the section would support the state economy, provide direct employment to 600 people and indirect employment to 2,500 people.

Present at the function were secretaries to the governments of Oyo, Lagos, Ogun and Ekiti, among other dignitaries.