Tinubu Inaugurates Remodelled Premier Hotel, Hails Tourism as Growth Driver

Tinubu Inaugurates Remodelled Premier Hotel, Hails Tourism as Growth Driver
Unveils 154-Room
Tinubu Inaugurates Remodelled Premier Hotel, Says Tourism Key to Economic Diversification

President Bola Tinubu on Thursday inaugurated the remodelled and expanded Premier Hotel in Ibadan, Oyo State, describing the project as a symbol of heritage preservation, economic renewal and renewed investor confidence in Nigeria.

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Eko Hot Blog reports that he President, represented by the Secretary to the Government of the Federation, Senator George Akume, said the reopening of the iconic hospitality facility represented more than the commissioning of a hotel, but the restoration of a national asset with deep historical significance.

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“Today, what we are celebrating is not just the reopening of a hotel, but the restoration of a true national icon,” Tinubu said.

He noted that the transformation of the hotel demonstrated that heritage assets should not be abandoned but preserved, modernised and adapted to contemporary realities.

According to the President, the project reflects the foresight of the leaders of the old Western Region who established enduring institutions capable of supporting economic growth across generations.

Tinubu commended the management of Odu’a Investment Company Limited and the governments of Ekiti, Lagos, Ogun, Ondo, Osun and Oyo states for repositioning the company as a major regional investment institution.

He described the hospitality and tourism sector as a critical component of the administration’s economic diversification strategy under the Renewed Hope Agenda.

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“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,” he said.

The President said his administration was investing in transportation infrastructure, airport terminals, road and air connectivity, digital services and public-private partnerships to stimulate tourism and related industries.

He added that the establishment of regional development commissions, including the South-West Development Commission, would complement state efforts in infrastructure development, tourism, agriculture, technology and industrialisation.

Governor Seyi Makinde, represented by the Secretary to the State Government, Prof. Muisibau Babatunde, described the commissioning as a major milestone in restoring one of Nigeria’s most historic hospitality facilities.

“Premier Hotel is more than a hotel; it is a symbol of our collective history and a landmark that has contributed immensely to the social, cultural and economic development of Oyo State and the South-West,” he said.

Chairman of Odu’a Investment Company Limited, Otunba Bimbo Ashiru, said the hotel was conceived in 1966 as the flagship hospitality asset of the former Western Region.

He explained that its location on Mokola Hill was deliberately chosen to provide guests with a cool environment, panoramic views of Ibadan and a visible landmark that became synonymous with hospitality excellence in Western Nigeria.

“For decades, this great edifice stood as the gold standard of luxury and service in West Africa. It was the preferred residence for heads of state, diplomats, captains of industry and discerning travellers from around the world,” Ashiru said.

The Group Managing Director of Odu’a Investment Company, Abdulrahman Yinusa, disclosed that the hotel had been upgraded from an 87-room facility to a 154-room ultra-modern five-star establishment while retaining its historic name.

He said Premier Legacy Limited was incorporated in 2022 as a joint venture vehicle to drive the hotel’s revitalisation and reposition it as a world-class hospitality destination for the South-West and Nigeria at large.