Nigeria’s economic reforms now producing tangible results, says Tinubu

• Commissions rebuilt Premier Hotel in Ibadan

By Lateef Ibrahim, Abuja

President Bola Tinubu has declared that Nigeria’s economic reforms are beginning to produce tangible results, urging investors to seize emerging opportunities in the country’s evolving economy.

The President made the declaration on Thursday while commissioning the newly transformed Premier Hotel in Ibadan, Oyo State capital,

Speaking at the commissioning ceremony of the iconic hospitality facility perched atop Mokola Hill, President Tinubu described the hotel’s rebirth as a powerful symbol of heritage preservation, economic renewal, and the resilience of indigenous institutions built by visionary leaders of the old Western Region.

Represented by the Secretary to the Government of the Federation, Senator George Akume, the President said the extensive modernization of the historic hotel mirrors the ongoing restoration of national landmarks and demonstrates how legacy assets can be repositioned to meet contemporary demands while retaining their historical significance.

“Heritage should not merely be remembered; it should be preserved, strengthened and passed on from one generation to another,” Tinubu said.

He noted that Premier Hotel remains an important part of Nigeria’s collective history, having hosted distinguished Nigerians and international visitors over several decades.

The President, according to a statement by Yomi Odunuga,

Special Adviser, Media and Publicity to the SGF, praised the founding fathers of the defunct Western Region for establishing institutions that became engines of economic development and commended successive leaders who sustained Odu’a Investment Company Limited through decades of economic and political transitions.

Tinubu also lauded the six shareholder states of Odu’a Investment Company—Oyo, Ogun, Ondo, Osun, Ekiti and Lagos—for what he described as their unwavering commitment to preserving and revitalizing one of the region’s most valuable legacy assets.

According to him, the successful transformation of Premier Hotel underscores the importance of collaboration between governments and the private sector in driving economic growth and preserving strategic investments.

“What we are witnessing here today is a triumph of good governance, public sector-private sector collaboration and strategic partnerships,” the President stated.

Highlighting the role of tourism in his administration’s Renewed Hope Agenda, Tinubu said the Federal Government has developed programmes aimed at strengthening the hospitality, arts, culture and creative sectors to make them major contributors to national development.

He explained that the initiatives are designed to boost Gross Domestic Product (GDP), increase foreign exchange earnings and create jobs for millions of Nigerians.

The President assured investors that his administration would continue to implement policies targeted at improving infrastructure, promoting domestic tourism and attracting greater private sector participation in the tourism value chain.

Tinubu used the occasion to defend the economic reforms introduced by his administration over the past three years, insisting that difficult but necessary decisions had helped address structural challenges that previously discouraged local and foreign investments.

“The economy has kicked into gear, and the benefits of all the sacrifices we have made as a people over the last three years have already begun to accumulate,” he said.

The President expressed optimism that Nigerians would begin to experience significant improvements in wages and living standards in the coming months as the gains of the reforms deepen across various sectors of the economy.

He urged citizens and businesses to invest in the country, describing the current period as a critical turning point in Nigeria’s economic history.

“I beckon on us all to take advantage of the beginnings of our economic transformation as a nation to invest in Project Nigeria, and I can assure you that you will be very glad you did,” he said.

Tinubu cited the redevelopment of Premier Hotel as an example of the rewards that come from making bold investments at the right time and expressed hope that Odu’a Investment Company would undertake more transformative projects across the South-West and beyond.

The President further challenged stakeholders to preserve national heritage, create opportunities for young people and build enduring institutions capable of serving future generations.

“The grounds we stand on today epitomize what is possible when vision is matched with commitment, when collaboration delivers results, and when a legacy is repositioned for long-term prosperity,” he said.

He congratulated the board, management, shareholders and stakeholders of Odu’a Investment Company Limited, as well as the people of the six South-West states, for the successful completion of the project.