President Bola Tinubu has declared that the benefits of the economic reforms implemented by his administration over the past three years are beginning to materialise, expressing confidence that Nigerians will soon experience improvements in wages and living standards as the gains spread across critical sectors of the economy.
The President made the remarks while commissioning the newly rebuilt Premier Hotel in Ibadan, Oyo State, describing the redevelopment of the iconic hospitality facility as evidence that renewed investor confidence is translating into tangible investments and economic renewal.
The position was contained in a statement issued by the Special Adviser on Media and Publicity to the Secretary to the Government of the Federation, Yomi Odunuga.
Represented at the event by the Secretary to the Government of the Federation, Senator George Akume, Tinubu said the country’s economic reforms, though difficult, were necessary to tackle long-standing structural challenges that had discouraged both 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,” the President said.
He added that Nigerians would begin to witness significant improvements in wages and living standards in the coming months as the impact of the reforms becomes more evident across the economy.
Tinubu urged citizens and businesses to take advantage of emerging opportunities created by the reforms by investing in Nigeria, describing the current period as a defining moment in the country’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.
The President said the reconstruction of Premier Hotel symbolises more than the restoration of a historic landmark, describing it as proof that strategic investments can unlock economic opportunities while preserving national heritage.
According to him, the extensive modernisation of the hotel demonstrates how legacy assets can be repositioned to meet contemporary demands without losing their historical significance.
“Heritage should not merely be remembered; it should be preserved, strengthened and passed on from one generation to another,” he said.
Tinubu noted that Premier Hotel has remained an important part of Nigeria’s history, having hosted prominent Nigerians and international visitors over several decades.
He commended the founding fathers of the defunct Western Region for establishing institutions that became drivers of economic development and praised successive leaders for sustaining Odu’a Investment Company Limited through years of political and economic transitions.
The President also lauded the six shareholder states of Odu’a Investment Company Limited—Oyo, Ogun, Ondo, Osun, Ekiti and Lagos—for preserving and revitalising one of the South-West’s most enduring legacy assets.
Describing the successful redevelopment of the hotel as a product of effective collaboration, Tinubu said the project demonstrated the value of partnerships between the public and private sectors.
“What we are witnessing here today is a triumph of good governance, public sector-private sector collaboration and strategic partnerships,” he stated.
President Bola Tinubu on Thursday commissioned the newly rebuilt Premier Hotel in Ibadan, Oyo State, describing the transformation of the iconic hospitality facility as evidence that Nigeria’s economic reforms are beginning to produce measurable outcomes and urging investors to take advantage of opportunities in the country’s evolving economy.
