Tinubu Commissions Remodelled Premier Hotel to Boost Tourism and Regional Investment
Odu'a Revives Historic Premier Hotel as Tinubu Promotes Tourism Development
President Bola Tinubu has commissioned the remodelled Premier Hotel in Ibadan, describing the redevelopment of the iconic hospitality facility as a major milestone in heritage preservation, tourism development, and regional economic growth. The project, undertaken by Odu'a Investment Company Limited, reflects renewed efforts to reposition legacy public assets as catalysts for investment, job creation, and sustainable development across South-West Nigeria.
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The commissioning ceremony brought together governors of the six South-West states, senior government officials, and business leaders to celebrate the reopening of one of Nigeria's oldest hospitality landmarks. President Tinubu, represented by the Secretary to the Government of the Federation, George Akume, said the transformation of Premier Hotel demonstrates the value of preserving historic assets while adapting them to meet modern economic and tourism demands.
Historic Asset Repositioned for Modern Hospitality
Located on Mokola Hill in Ibadan, Premier Hotel has long been recognised as one of Nigeria's most prominent hospitality landmarks. Originally developed by the former Western Region, the hotel has hosted government officials, diplomats, business executives, and international visitors for decades.
Following extensive rehabilitation and modernisation by Odu'a Investment Company Limited, the facility has been repositioned as a contemporary hospitality destination while preserving its historical significance. The redevelopment forms part of the company's broader strategy to revitalise strategic assets owned jointly by the six South-West states.
Tinubu Highlights Tourism and Investment Opportunities
President Tinubu said the successful redevelopment of Premier Hotel illustrates how strategic investments and collaboration between the public and private sectors can unlock economic opportunities. He noted that preserving heritage infrastructure while upgrading it to modern standards can stimulate tourism, attract investment, and create employment opportunities.
The President also reaffirmed his administration's commitment to improving infrastructure, promoting tourism, and encouraging private sector participation in sectors capable of driving long-term economic growth.
Regional Collaboration Drives Redevelopment
The President commended the governments of Oyo, Lagos, Ogun, Ondo, Osun, and Ekiti states, the shareholders of Odu'a Investment Company Limited, for supporting the redevelopment project. He described the initiative as evidence of what regional cooperation can achieve in preserving public assets and promoting sustainable economic development.
Odu'a Investment Company said the project was undertaken through Premier Legacy Limited, a joint venture established to transform the ageing hotel into a world-class hospitality facility capable of competing in Nigeria's tourism and business travel market.
Implications for Real Estate and Urban Development
The reopening of Premier Hotel demonstrates the growing role of asset redevelopment in Nigeria's real estate and hospitality sectors. Rather than abandoning ageing public infrastructure, governments and institutional investors are increasingly exploring rehabilitation and adaptive reuse as cost-effective strategies for urban regeneration.
For investors and developers, the project highlights opportunities in repositioning existing assets to meet evolving market demands while preserving their historical and commercial value. It also reinforces the importance of public-private partnerships in financing large-scale redevelopment projects that contribute to tourism, employment, and regional economic competitiveness.
Conclusion
The commissioning of the remodelled Premier Hotel marks the successful revival of one of Nigeria's most recognisable hospitality landmarks. Beyond restoring a historic property, the project underscores the potential of strategic investment, regional collaboration, and heritage preservation to support tourism growth, urban renewal, and long-term economic development across the South-West.
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