By Francis Wilfred
President Bola Tinubu has commissioned the newly transformed Premier Hotel in Ibadan, Oyo State, declaring that Nigeria’s economic reforms are beginning to produce tangible results and urging investors to seize emerging opportunities in the country’s evolving economy.
Speaking at the commissioning ceremony of the iconic hospitality facility perched atop Mokola Hill on yesterday, President Tinubu described the hotel’s rebirth as a powerful symbol of heritage preservation, economic renewal, and the resilience of indigenous institutions built by visionary leaders of the old Western Region.
Represented by the Secretary to the Government of the Federation, Senator George Akume CON, the President said the extensive modernization of the historic hotel mirrors the ongoing restoration of national landmarks and demonstrates how legacy assets can be repositioned to meet contemporary demands while retaining their historical significance.
According to a statement issued by Yomi Odunuga, Special Adviser, Media and Publicity to the SGF, the president said Heritage should not merely be remembered; it should be preserved, strengthened and passed on from one generation to another, noting that Premier Hotel remains an important part of Nigeria’s collective history, having hosted distinguished Nigerians and international visitors over several decades. He praised the founding fathers of the defunct Western Region for establishing institutions that became engines of economic development and commended successive leaders.
According to him, the successful transformation of Premier Hotel underscores the importance of collaboration between governments and the private sector in driving economic growth and preserving strategic investments. “What we are witnessing here today is a triumph of good governance, public sector-private sector collaboration and strategic partnerships,” the President stated.
Highlighting the role of tourism in his administration’s Renewed Hope Agenda, Tinubu said the Federal Government has developed programmes aimed at strengthening the hospitality, arts, culture and creative sectors to make them major contributors to national development.He explained that the initiatives are designed to boost Gross Domestic Product (GDP), increase foreign exchange earnings and create jobs for millions of Nigerians.
The President assured investors that his administration would continue to implement policies targeted at improving infrastructure, promoting domestic tourism and attracting greater private sector participation in the tourism value chain.
Tinubu used the occasion to defend the economic reforms introduced by his administration over the past three years, insisting that difficult but necessary decisions had helped address structural challenges that previously discouraged local and foreign investments.” 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.
The President expressed optimism that Nigerians would begin to experience significant improvements in wages and living standards in the coming months as the gains of the reforms deepen across various sectors of the economy. Urging citizens and businesses to invest in the country, describing the current period as a critical turning point in Nigeria’s economic history.
The President challenged stakeholders to preserve national heritage, create opportunities for young people and build enduring institutions capable of serving future generations. He congratulated the board, management, shareholders and stakeholders of Odu’a Investment Company Limited, as well as the people of the six South-West states, for the successful completion of the project.
