Tinubu commissions rebuilt Premier Hotel, vows to end S/West insecurity, boost tourism
pannigeriannews
4 min read
President Bola Tinubu on Thursday commissioned the newly transformed Premier Hotel in Ibadan, Oyo State, describing the project as a symbol of Nigeria’s economic renewal while assuring residents of the South West that the Federal Government was taking decisive steps to tackle banditry, kidnapping and other security threats.
The president, who was represented by the Secretary to the Government of the Federation (SGF), Senator George Akume, said the restoration of the iconic hotel demonstrated what could be achieved through strategic investment, regional cooperation and long-term planning.
Speaking at the commissioning ceremony, Tinubu said the reopening of the hotel represented more than the revival of a hospitality facility.
“What we are experiencing and celebrating is not just the reopening of a hotel, but the restoration of a true national icon,” he said.
According to him, the transformation of the Premier Hotel reflects his administration’s commitment to preserving Nigeria’s heritage while promoting economic growth through tourism and hospitality.
“The hospitality and tourism industry occupies a strategic place under the diversification policy of the Renewed Hope Agenda. Our objective is not just to attract tourists and investors but also to drive economic growth, job creation, foreign exchange earnings, cultural diplomacy and urban renewal,” Tinubu said.
The president said projects such as the Premier Hotel would create jobs, stimulate local businesses, promote cultural tourism and contribute significantly to Nigeria’s economic development.
He also announced that the South West Development Commission (SWDC) had been authorised to work closely with sub-national entities, development conglomerates the Odu’a Investment Company Limited (OICL), the Development Agenda for Western Nigeria (DAWN) Commission and private investors to build a world-class economy within a thriving Nigeria.
On security, Tinubu reassured residents of Oyo State and the South West that the Federal Government was responding decisively to the recent rise in criminal activities.
“I wish to assure you that every realistic measure, including international collaboration, is being taken to ensure that the kidnapped victims in Orire Local Government are safely brought home without harm or avoidable loss of life,” he said.
He added that his administration had strengthened intelligence gathering, security coordination and technological surveillance across the country, noting that the government’s reforms were already yielding measurable results.
“The combination of improved security, expanding infrastructure, economic reforms and strategic investments such as this Premier Hotel conveys a strong message that Nigeria is moving steadily towards a more prosperous future,” Tinubu added.
Earlier, the Group Chairman of Odu’a Investment Company Limited, Otunba Bimbo Ashiru, described the commissioning as the rebirth of one of Nigeria’s most historic hospitality assets.
“We are gathered here on the iconic Mokola Hill to witness the rebirth of a legendary institution, Premier Hotel Ibadan,” Ashiru said.
He recalled that the hotel, established in 1966 as the Western Region’s flagship hospitality asset, had once hosted heads of state, diplomats, captains of industry and tourists from around the world before falling into decline.
“We were determined not to demolish history, but to preserve the architectural soul of the original building while infusing it with world-class modern amenities and global hospitality standards,” he said.
Ashiru disclosed that the redevelopment, which began in the last quarter of 2022 under the company’s SRC 1.0 strategic plan, expanded the hotel from 87 rooms to 154 luxury rooms and suites, positioning it as a five-star hospitality destination.
He said the commissioning marked the beginning of a wider transformation of Odu’a Investment Company’s hospitality assets across the South West.
“As we celebrate the rebirth of Premier Hotel, I am pleased to announce that this is only the beginning of a broader transformation across the Odu’a Investment Group’s hospitality and property portfolio,” he said.
Ashiru revealed that Lagos Airport Hotel would be redeveloped into a mixed-use hospitality and commercial destination, while Lafia Hotel in Ibadan would also undergo major reconstruction under the company’s SRC 2.0 strategy.
Also speaking, the Group Managing Director of Odu’a Investment Company Limited, Mr Abdulrahman Yinusa, said the project demonstrated the company’s resolve to preserve the region’s heritage while creating a globally competitive hospitality destination.
“Premier Hotel is not just a building. It is an institution. It is a symbol of our ambition, our culture and our capacity to compete with the best anywhere in the world,” Yinusa said.
He explained that the project involved the construction of a second tower and the complete modernisation of the old structure, transforming the hotel into a 154-room five-star facility equipped with banquet halls, restaurants, conference facilities, swimming pools, wellness centres and a multi-level car park.
“This is not merely a renovation. This is a rebirth,” he said.
Yinusa said the hotel would commence full commercial operations in the fourth quarter of 2026 and was expected to boost tourism, create employment opportunities and position Ibadan as a leading destination for conferences and international events.
“We believe this hotel will significantly boost tourism, create employment and provide a world-class hospitality destination for the entire South-West zone,” he said.
He urged Nigerians to patronise the facility, describing it as “the pride of the South-West and a beacon of Nigerian excellence.”
The commissioning ceremony was attended by governors of the six South West states, traditional rulers, business leaders, investors and other dignitaries.
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