The Federal Government has reaffirmed its commitment to boosting tourism, regional economic development and infrastructure renewal with the reopening of the newly remodelled Premier Hotel, Ibadan.
Representing President Bola Tinubu at the commissioning ceremony on Thursday, the Secretary to the Government of the Federation (SGF), Senator George Akume, described the hotel’s revival as a landmark achievement that reflects the success of strategic investments, regional collaboration and public-private partnerships. He noted that the project, undertaken by Odu’a Investment Company Limited, demonstrates the enormous benefits of cooperation among the six South-West states.
Akume said the Federal Government views tourism and hospitality as key drivers of economic diversification under the Renewed Hope Agenda, stressing that investments in the sector would create jobs, stimulate local businesses, attract visitors and increase foreign exchange earnings. He added that the newly established South-West Development Commission would work with state governments and private investors to accelerate regional development.
The SGF also assured residents of the South-West of the Federal Government’s commitment to tackling insecurity, including kidnapping and banditry, while expressing confidence that ongoing economic reforms were beginning to deliver positive results. He described the transformed Premier Hotel as a strong symbol of confidence in Nigeria’s future.
Representing Governor Seyi Makinde, the Secretary to the Oyo State Government, Professor Musibau Babatunde, described the reopening as the restoration of one of Nigeria’s foremost hospitality landmarks. He said the upgraded facility would strengthen tourism, create employment opportunities and support economic growth across the South-West.
Also speaking, Ondo State Governor Lucky Aiyedatiwa and the Lagos State Government hailed the redevelopment as a major milestone for the region, saying it reflects a commitment to preserving historical assets while promoting investment and sustainable development.
Chairman of Odu’a Investment Company Limited, Otunba Bimbo Ashiru, said the redevelopment preserved the hotel’s historic identity while upgrading it to international standards. He disclosed that the accommodation capacity has increased from 87 to 154 luxury rooms and suites, with plans already underway to redevelop other Odu’a-owned hospitality assets, including Lagos Airport Hotel and Lafia Hotel in Ibadan.
