President Bola Ahmed Tinubu has commissioned the newly transformed Premier Hotel in Ibadan, Oyo State, describing the project as evidence that Nigeria’s economic reforms are beginning to yield positive results and encouraging investors to take advantage of emerging opportunities in the country.
According to an official signed statement by the Special Adviser, Media and Publicity to the Secretary to the Government of the Federation, Yomi Odunuga, President Tinubu made the remarks on Thursday during the commissioning of the historic hospitality facility located on Mokola Hill, Ibadan.
Represented by the Secretary to the Government of the Federation, Senator George Akume, CON, the President said the rebirth of Premier Hotel symbolises heritage preservation, economic renewal and the resilience of indigenous institutions established by the visionary leaders of the old Western Region.
He noted that the extensive modernisation of the hotel reflects ongoing efforts to restore national landmarks and demonstrates how legacy assets can be repositioned to meet contemporary demands while preserving their historical significance.
“Heritage should not merely be remembered; it should be preserved, strengthened and passed on from one generation to another,” the President said.
Tinubu described Premier Hotel as an important part of Nigeria’s collective history, having hosted notable Nigerians and international visitors over the decades. He commended the founding fathers of the defunct Western Region for establishing institutions that became engines of economic development and praised successive leaders who sustained Odu’a Investment Company Limited through various economic and political transitions.
The President also lauded the six shareholder states of Odu’a Investment Company Limited Oyo, Ogun, Ondo, Osun, Ekiti and Lagos for their commitment to preserving and revitalising one of the region’s most valuable legacy assets.
According to him, the successful transformation of Premier Hotel highlights the importance of collaboration between government and the private sector in driving economic growth and safeguarding strategic investments.
“What we are witnessing here today is a triumph of good governance, public sector-private sector collaboration and strategic partnerships,” he stated.
Tinubu reaffirmed his administration’s commitment to promoting tourism under the Renewed Hope Agenda, explaining that programmes have been developed to strengthen the hospitality, arts, culture and creative sectors as key contributors to national development.
He said the initiatives are aimed at boosting Gross Domestic Product (GDP), increasing foreign exchange earnings and creating employment opportunities for millions of Nigerians.
The President assured investors that the Federal Government would continue implementing policies designed to improve infrastructure, promote domestic tourism and attract greater private-sector participation across the tourism value chain.
Defending the economic reforms introduced by his administration over the past three years, Tinubu maintained that difficult but necessary decisions had helped address structural challenges that previously discouraged local and foreign investment.
“The economy has kicked into gear, and the benefits of all the sacrifices we have made as a people over the last three years have already begun to accumulate,” he said.
He expressed optimism that Nigerians would witness significant improvements in wages and living standards in the coming months as the gains of the reforms deepen across various sectors of the economy.
The President urged citizens and businesses to invest in the country, describing the current period as a critical turning point in Nigeria’s economic history.
“I beckon on us all to take advantage of the beginnings of our economic transformation as a nation to invest in Project Nigeria, and I can assure you that you will be very glad you did,” he said.
Tinubu cited the redevelopment of Premier Hotel as an example of the rewards of making bold investments at the right time and expressed confidence that Odu’a Investment Company Limited would undertake more transformative projects across the South-West and other parts of the country.
He further challenged stakeholders to preserve national heritage, create opportunities for young people and build enduring institutions capable of serving future generations.
“The grounds we stand on today epitomize what is possible when vision is matched with commitment, when collaboration delivers results, and when a legacy is repositioned for long-term prosperity,” he said.
The President congratulated the board, management, shareholders and stakeholders of Odu’a Investment Company Limited, as well as the people of the six South-West states, on the successful completion of the project.
