Tinubu harps on rebirth of national assets nationwide

…commissions 154-bed Premier Hotel

President Bola Tinubu has harped on the need for the rebirth of national assets across the country to complement the efforts of the present administration in infrastructural development and other sectoral growth.

He said the remodelled 154-bed Premier Hotel in Ibadan is a pointer to the preservation of our heritage in conformity with global standards in the tourism and hospitality sector.

Tinubu, while leading other dignitaries at the commissioning of the first phase of the hotel in Ibadan on Thursday, said its transformation is a reminder that our heritage must not be abandoned but preserved.

‘The transformation and modernization of this facility remind us that heritage should not be abandoned to the passage of time. Rather, it should be preserved, renewed, and adapted to meet contemporary realities.

‘In many ways, this project mirrors the rebirth of other iconic national assets across our country. It similarly demonstrates that our past can serve as a foundation upon which we build a stronger future.”

Tinubu added that the visionary leadership of the old Western Region had understood that sustainable development required long-term thinking, strategic investment, and collective action.

He said this prompted the construction of the Premier Hotel and other projects by Odua Conglomerate.

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‘The visionary leaders of the old Western Region who established enduring institutions and development assets that have continued to serve generations undoubtedly understood that sustainable development required long-term thinking, strategic investment, and collective action.

“Their foresight laid the foundation for many of the economic and social achievements that continue to distinguish this region today.”

He said the hospitality and tourism industry has become a global enterprise in terms of employment generation and boosting Gross Domestic Product (GDP).

‘The hospitality and tourism industry is a growing enterprise globally. This is because across the world, there is monumental daily movement of goods and services driven by humans.

‘With our population and the size of our economy, opportunities for growth abound in Nigeria. That is exactly why hospitality and tourism occupy a strategic place under the diversification policy of the Renewed Hope Agenda.

“This 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.

“Nigeria possesses enormous tourism potential, from our cultural heritage and historical sites to our creative industries, festivals, natural attractions, and vibrancy.”

In his address, the Oyo State Governor, Engr Seyi Makinde, who was represented by the Secretary to the State Government, Prof. Musibau Babatunde, described the project as a major milestone in restoring one of Nigeria’s most iconic hospitality establishments.

“Today marks a significant milestone in the journey of restoring one of the most iconic hospitality landmarks in Nigeria.”

Babatunde noted that Premier Hotel had played a central role in the social, economic, and cultural development of Oyo State and the South-West for decades.

“Premier Hotel Ibadan is more than just a hotel. It is a symbol of our collective history, a landmark that has occupied a special place in the social, economic and cultural development of the state and the entire South-West region,” he stated.

He said the rehabilitation project was a bold step towards restoring the hotel’s competitiveness and relevance in the modern hospitality industry.

“The decision to embark on this rehabilitation and transformation was therefore a bold and necessary step towards ensuring that this historic asset regains its former glory and competes favourably in today’s hospitality industry,” he said.

The Oyo SSG commended Odu’a Investment Company and its private sector partners for the successful execution of the project.

“The successful transformation we are witnessing today is a product of cooperation, trust, and shared responsibility,” he said.

Ondo State Governor Lucky Aiyedatiwa described the reopening of the hotel as the rebirth of a historic institution that had shaped the economic and cultural evolution of the South-West.

“Our gathering today is not just to cut the ribbon of the renovated structure. We are here to witness history reborn and the restoration of legacy,” he said.

Aiyedatiwa said the significance of the project extended beyond infrastructure.

“The rebirth of this iconic institution carries a significance that transcends bricks and mortar. It symbolises resilience over decline, renewal over stagnation, and confidence over uncertainty,” he stated.

He commended Odu’a Investment Company for preserving a critical part of the region’s heritage while creating fresh opportunities for tourism, hospitality, employment, and investment.

“You have not only preserved an important chapter of our heritage, you have also created fresh opportunities for tourism, world-class hospitality, employment generation, and investments,” he said.

Representing Lagos State Governor Babajide Sanwo-Olu, the Secretary to the State Government, Bimbola Salu-Hundeyin, said the redevelopment demonstrated how heritage preservation and economic modernisation could complement each other.

“Today’s reopening is not merely the commissioning of a renovated facility; it is a renewed hope. It is a statement of intent, one that demonstrates that heritage preservation and economic modernisation are complementary pillars of sustainable development,” she said.

She described the project as a strong vote of confidence in the future of tourism, hospitality, and investment in the South-West region.

“This redevelopment is a strong statement of confidence in the future of tourism, hospitality and investment in our region,” she added.

Earlier in his welcome address, Chairman of Odu’a Investment Company Limited, Otunba Bimbo Ashiru, said the commissioning marked the rebirth of one of the most historic hospitality assets in Nigeria.

“Today is a day of profound joy, historic significance, and grateful hearts. We are gathered here on the iconic Mokola Hill to witness the rebirth of a legendary institution, Premier Hotel Ibadan,” he said.

Ashiru recalled that Premier Hotel was established in 1966 as the Western Region’s flagship hospitality asset and became one of the most prestigious hotels in West Africa.

“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, royal families, foreign diplomats, captains of industry, and discerning travellers from every corner of the globe,” he said.

He explained that the vision to redevelop the hotel gained momentum under Odu’a Investment Company’s strategic roadmap aimed at reviving legacy assets.

“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,” Ashiru stated.

He said the redevelopment expanded the hotel’s accommodation capacity from 87 rooms to 154 luxury rooms and suites.

“The former 87 rooms have been expanded and redesigned into 154 luxurious suites and guest rooms. Premier Hotel is being repositioned as a five-star world-class hospitality destination for the region and beyond,” he said.

Ashiru also announced plans to redevelop other hospitality assets owned by Odu’a Investment Company, including Lagos Airport Hotel and Lafia Hotel in Ibadan.

“Premier Hotel is the cornerstone, but it is by no means the final destination. We are committed to building globally competitive businesses that will restore the South-West to its pride of place as the economic heartbeat of Nigeria,”