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Kazeem Awojoodu
President Bola Ahmed Tinubu has described the renovation and reopening of Premier Hotel, Ibadan, as a symbol of the rebirth of national assets and a testament to the importance of preserving Nigeria’s heritage.
Speaking at the commissioning of the renovated iconic hotel on Thursday in Ibadan, the President, represented by the Secretary to the Government of the Federation (SGF), Senator George Akume, said the transformation of the facility under the management of Odu’a Investment Company Limited demonstrates the need to preserve and modernise historic institutions rather than abandon them.
Tinubu said the revitalised Premier Hotel reflects the ongoing restoration of strategic national assets and underscores how Nigeria’s rich heritage can serve as a foundation for future development.
“The commissioning of this iconic facility reminds us that heritage should not be abandoned to the passage of time. Rather, it should be preserved, renewed and repositioned to meet contemporary realities,” he said.
The President paid tribute to the visionary leaders of the defunct Western Region whose investments in enduring institutions and infrastructure continue to benefit generations of Nigerians.
He commended the management and staff of Odu’a Investment Company Limited for sustaining and strengthening the legacy of the regional conglomerate despite changing economic realities.
Tinubu also praised the governments of Oyo, Ogun, Osun, Ondo, Ekiti and Lagos states for their commitment to repositioning Odu’a Investment Company as a leading regional investment institution, describing the hotel’s revival as evidence of the gains of regional cooperation and strategic partnerships.
Reaffirming his administration’s commitment to tourism and hospitality development under the Renewed Hope Agenda, the President noted that the sector holds significant potential for job creation, economic growth, foreign exchange earnings, cultural promotion and urban renewal.
“Nigeria possesses enormous tourism potential, from our cultural heritage and historical sites to our creative industries, festivals, natural attractions and vibrant cities,” he stated.
According to him, the Federal Government is investing in transportation infrastructure, digital services, business reforms and public-private partnerships aimed at attracting investments into tourism-related enterprises.
Tinubu further disclosed that the newly established South West Development Commission would work closely with state governments, the Odu’a Group, the Development Agenda for Western Nigeria (DAWN) Commission and private investors to drive infrastructure development, tourism growth and economic integration across the region.
He also stressed the importance of peace and security in achieving sustainable economic development, noting that his administration has continued to strengthen the nation’s security architecture through enhanced intelligence gathering, improved inter-agency collaboration and increased support for security agencies.
In his goodwill message, Oyo State Governor Seyi Makinde, represented by the Secretary to the State Government, Prof. Musbaudeen Babatunde, described the reopening of the hotel as a reflection of the power of partnership, shared vision and commitment to preserving heritage while promoting economic growth.
He noted that Premier Hotel has remained a major landmark in the social, cultural and economic history of Oyo State and the South-West for decades.
“The rehabilitation and transformation of this historic asset was a bold and necessary step to restore its competitiveness and position it as a modern hospitality destination,” he said.
Makinde commended Odu’a Investment Company and its private sector partners for restoring the facility and creating fresh opportunities for tourism, investment and employment.
Also speaking, Ondo State Governor Lucky Aiyedatiwa described the reopening of the hotel as “history reborn” and a restoration of a legacy deeply connected to the economic, political and cultural evolution of the South-West.
According to him, Premier Hotel remains a symbol of the visionary leadership that defined the old Western Region and a testament to the developmental philosophy of its founding fathers.
“The rebirth of this iconic institution symbolises resilience over decline, renewal over stagnation and confidence over uncertainty. It demonstrates that we can successfully blend heritage with modernity,” Aiyedatiwa said.
Earlier, the Group Chairman of Odu’a Investment Company Limited, Otunba Bimbo Ashiru, described the occasion as a historic milestone marking the rebirth of one of Nigeria’s most celebrated hospitality landmarks.
He recalled that Premier Hotel was established in 1966 as the Western Region’s flagship hospitality asset, alongside Hamdala Hotel in Kaduna and Hotel Presidential in Enugu, which collectively symbolised Nigeria’s post-independence economic aspirations and regional development.
Ashiru explained that Mokola Hill was deliberately chosen as the hotel’s location because of its cool climate, commanding panoramic view of Ibadan and its symbolic status as a beacon of hospitality in Western Nigeria.
“For decades, this great edifice stood as the gold standard of luxury and service in West Africa. It hosted heads of state, royal families, diplomats, captains of industry and visitors from across the world. It was the pride of Ibadan and the heartbeat of South-West hospitality,” he said.
The reopening of the hotel marks a new chapter in its history and reinforces efforts by stakeholders to preserve iconic regional assets while positioning them to compete in today’s hospitality industry.
