Premier Hotel reopens as 154-room 5-star facility
The iconic Premier Hotel in Ibadan has reopened after a major redevelopment that transformed the historic property from an 87-room facility into a 154-room, five-star hospitality destination, marking a significant boost for tourism and investment in South-West Nigeria.
Commissioned yesterday on behalf of President Bola Ahmed Tinubu by the Secretary to the Government of the Federation, Senator George Akume, the project is expected to strengthen regional economic growth and create employment opportunities.
President Tinubu described the redevelopment as the restoration of a national icon and evidence of growing investor confidence in Nigeria.
He commended the six South-West states of Lagos, Ogun, Oyo, Osun, Ondo, and Ekiti, who are joint owners of Odu’a Investment Company Limited, for repositioning the investment group and reviving one of the region’s most strategic assets.
Tinubu said tourism and hospitality remain central to his administration’s economic diversification agenda.
He noted that ongoing investments in transport infrastructure, airport terminals, roads, and digital services are expected to strengthen the hospitality sector and attract local and international investors.
The President also announced that the South West Development Commission would collaborate with Odu’a Investment Company, the DAWN Commission, and private investors to deepen regional economic growth.
In his remarks, the Chairman of Odu’a Investment Company Limited, Otunba Bimbo Ashiru, described the project as a landmark achievement under the company’s strategic transformation agenda.
Ashiru said Premier Hotel, originally built in 1966 as the flagship hospitality asset of the old Western Region, had become a symbol of excellence before deteriorating over time.
He said the redevelopment vision gained traction under Odu’a’s strategic roadmap launched in 2020.
Also speaking, the Group Managing Director of Odu’a Investment Company Limited, Abdulrahman Yinusa, said the project was executed in two phases over 48 months through Premier Legacy Limited.
Yinusa disclosed that the hotel now consists of 103 deluxe rooms, four accessible deluxe rooms, 34 superior rooms, seven superior suites, two executive suites, and four executive apartments.
He added that the facility includes a 1,000-capacity banquet center, nine dining outlets, five swimming pools, an infinity pool, a spa, a gymnasium, a lawn tennis court, and a one-kilometer garden walk trail.
The redevelopment also introduced Ibadan’s first multi-level car park with 250 parking spaces, alongside additional surface parking for 150 vehicles.
Ashiru further revealed that Odu’a’s strategic roadmap for 2026 to 2030 includes the redevelopment of Lagos Airport Hotel into a mixed-use hospitality and commercial hub, as well as upgrades to Lafia Hotel in Ibadan.
The management noted that Premier Hotel is expected to fully open for commercial operations in the fourth quarter of 2026, reiterating its commitment to customer service and comfort.