Tinubu Calls For Revival Of National Assets At Premier Hotel Reopening

President Tinubu says restoring iconic assets is vital to Nigeria’s economic growth, tourism and urban renewal.

President Bola Tinubu has emphasised the need to revive national assets nationwide to complement the present administration’s efforts in infrastructure development and sectoral growth.

Tinubu, while leading other dignitaries at the commissioning of the first phase of the hotel in Ibadan on Thursday, said the remodelled 154-bed Premier Hotel was a pointer to the preservation of the country’s heritage in conformity with global standards in the tourism and hospitality sector.

“The transformation and modernisation of this facility remind us that heritage should not be abandoned to the passage of time. Rather, it should be preserved, renewed, and adapted to meet contemporary realities.

‘In many ways, this project mirrors the rebirth of other iconic national assets across our country. It similarly demonstrates that our past can serve as a foundation upon which we build a stronger future.”

Tinubu added that the visionary leadership of the old Western Region had understood that sustainable development required long-term thinking, strategic investment, and collective action.

He said this prompted Odua Conglomerate to construct the Premier Hotel and other projects.

Tinubu said the hospitality and tourism industry has become a global enterprise in terms of employment generation and boosting Gross Domestic Product (GDP).

“With our population and the size of our economy, growth opportunities abound in Nigeria. That is exactly why hospitality and tourism occupy a strategic place under the diversification policy of the Renewed Hope Agenda.

“This objective is not just to attract tourists and investors but also to drive economic growth, job creation, foreign exchange earnings, cultural diplomacy, and urban renewal.

“Nigeria possesses enormous tourism potential, from our cultural heritage and historical sites to our creative industries, festivals, natural attractions, and vibrancy,” he added.

In his address, the Oyo State Governor, Seyi Makinde, who the Secretary represented to the State Government, Prof. Musibau Babatunde, described the project as a major milestone in restoring one of Nigeria’s most iconic hospitality establishments.

“Premier Hotel Ibadan is more than just a hotel. It is a symbol of our collective history. This landmark has occupied a special place in the social, economic, and cultural development of the state and the entire South-West region,” the governor stated.

Lagos State Governor Babajide Sanwo-Olu, represented by the Secretary to the State Government, Bimbola Salu-Hundeyin, said the redevelopment demonstrated how heritage preservation and economic modernisation could complement each other.

“Today’s reopening is not merely the commissioning of a renovated facility; it is a renewed hope. It is a statement of intent, one that demonstrates that heritage preservation and economic modernisation are complementary pillars of sustainable development,” the governor added.

Ondo State Governor Lucky Aiyedatiwa described the reopening of the hotel as the rebirth of a historic institution that had shaped the economic and cultural evolution of the South-West.

“The rebirth of this iconic institution carries a significance that transcends bricks and mortar. It symbolises resilience over decline, renewal over stagnation, and confidence over uncertainty,” he stated.

He commended Odu’a Investment Company for preserving a critical part of the region’s heritage while creating fresh opportunities for tourism, hospitality, employment, and investment.

Earlier in his welcome address, the Chairman of Odu’a Investment Company Limited, Otunba Bimbo Ashiru, said the commissioning marked the rebirth of one of Nigeria’s most historic hospitality assets.

“Today is a day of profound joy, historic significance, and grateful hearts. We are gathered here on the iconic Mokola Hill to witness the rebirth of a legendary institution, Premier Hotel Ibadan,” he said.

Ashiru recalled that Premier Hotel was established in 1966 as the Western Region’s flagship hospitality asset and became one of the most prestigious hotels in West Africa.