Kemi Olaitan in Ibadan

TPresident Bola Tinubu yesterday said the signs of progress in the country are becoming increasingly evident as the reforms undertaken by his administration are laying the foundation for a stronger, more competitive, and more resilient economy.

This is just as he assured the people that every realistic measure, including international collaboration, is being taken to ensure that the kidnapped victims in Oriire Local Government Area of Oyo State are safely brought home without harm or avoidable loss of life.

The President said these in his address at the inauguration of the newly transformed Premier Hotel in Ibadan undertaken by the Odu’a Investment Company Limited.

President Tinubu, who was represented at the event by the Secretary to the Federal Government (SGF), Senator George Akume, said while the country has confronted difficult structural challenges that constrained growth and investment for many years, the present administration under his leadership is building a more stable platform for sustainable growth and shared prosperity.

He said: “The signs of progress are becoming increasingly evident. Investor confidence is improving, strategic investments are growing, and key sectors of the economy are showing renewed momentum. Our foreign reserves have also attained the highest level in the last two decades.

“The newly transformed Premier Hotel is itself a vote of confidence in Nigeria’s future. It represents optimism, enterprise, and belief in the opportunities ahead.”

The president urged investors across the country and beyond to continue to invest in the country, stating that Nigeria offers tremendous opportunities while his administration remains committed to creating the conditions necessary for businesses to succeed.

“My charge to all stakeholders today is simple: let us preserve our heritage, embrace innovation, invest boldly in our future, create opportunities for our young people, and build institutions that will endure for generations.

“Once again, I congratulate the Board, Management, shareholders, and staff of Odu’a Investment Company Limited, as well as the governments and people of the six South-West states, on this remarkable achievement,” he said.

According to him, the federal government is seriously addressing the upswing in banditry, kidnapping and associated criminalities, across the country, urging all citizens to remain vigilant and to work collaboratively with security agencies.

“There is undoubtedly a huge role for traditional and faith-based institutions to play in this regard and I urge them take the lead through the various channels provided by government.”

Governor Seyi Makinde of Oyo State, who was the Chief host in his remarks, said the inauguration marked significant milestone in the journey of restoring one of the most iconic hospitality landmarks in Nigeria, stating that the event reflected the power of partnership, shared vision, and commitment to preserving our heritage while positioning our institutions for a more prosperous future.

Makinde, represented by his SSG, Prof. Musbau Babatunde, noted that Premier Hotel is more than just a hotel, but symbol of collective history, a landmark that has occupied a special place in the social, economic, and cultural development of the state and the entire Southwest region.

“I particularly commend the visualizership of the Odu’a Group of Companies for recognising the importance of this project and for taking deliberate steps to reposition Premier Hotel as a modern hospitality destination.”

The Group Chairman, Odu’a Group, Otunba Bimbo Ashiru, in his remarks, said the idea of Premier Hotel was conceived as the Western Region’s flagship hospitality asset, built alongside its sister properties such as Hamdala Hotel in Kaduna for the Northern Region, and Hotel Presidential in Enugu for the Eastern Region, stating that the choice of Mokola Hill as the location was both deliberate and symbolic, as the founding fathers selected the elevated terrain for several strategic reasons.

“First, to offer guests a naturally cool and refreshing climate, sheltered from the tropical heat of the valley below; second, to provide an unobstructed, breathtaking panoramic view of the ancient city of Ibadan, including landmarks such as Cocoa House, the Government Secretariat, and Bower’s Tower; and, third, to create a brilliant “lighthouse” effect with its bright white walls and glowing nighttime lights, the hotel became visible from miles around, a radiant beacon of Western Nigerian hospitality and grandeur.

“For decades, this great edifice stood as the gold standard of luxury and service in West Africa. It was the preferred residence for heads of state, royal families, foreign diplomats, captains of industry, and discerning travelers from every corner of the globe. It hosted historic meetings, celebrated milestones, and created cherished memories for countless families. It was, without question, the pride of Ibadan and the heartbeat of South-Western hospitality.”