Oyo, SystemSpecs seals N5bn deal to upgrade Bower’s Tower

By Ejire Folakunmi

The Oyo State Government has signed a N5 billion investment deal with SystemSpecs “Whatadeal” Limited to upgrade Bower’s Tower, transforming the historic site on Oke-Are Hill into a world-class tourism destination.

The 15-year concession deal was signed at the Ministry of Culture and Tourism, Agodi Secretariat, Ibadan, with the Oyo State Investment and Public-Private Partnership Agency (OYSIPA) coordinating the public sector side of the partnership.

Under the terms of the agreement, SystemSpecs “Whatadeal” Limited has been granted up to 24 months to carry out a comprehensive rehabilitation and modernisation of the facility to meet global tourism standards.

The 15-year concession period will commence when the site is fully operational and commercially viable.OYSIPA Director-General, Mr Tilewa Folami, noted that the concession includes a revenue-sharing model between the State and the concessionaire, designed to deliver sustainable financial returns for both parties while preserving long-term value for Oyo State.

The initiative is part of a broader strategy to unlock the economic potential of underutilised public assets through public-private partnerships, attracting investment, increasing tourism traffic, stimulating surrounding businesses, and creating employment opportunities, particularly for young people.

Bower’s Tower has stood on Oke-Are Hill since 1936.