The Group Chairman of Odu’a Investment Company Limited, ‘Bimbo Ashiru, has stated that the redevelopment of Premier Hotel, Ibadan, Oyo State capital, will gulp over ₦20 billion.
Ashiru made this known to newsmen on Thursday during a facility tour of the ongoing redevelopment of the hotel.
The PUNCH reports he added that the redevelopment of the facility would increase the rooms from 87 to 154, saying about 200 people are currently working in and out of the place.
Ashiru said, “What I’m looking at can’t be less than N20bn because I remember that it was about $10m then. What we have now is between $10m and over N20bn.
“We want to consolidate what our forefathers did. If something was built almost 80 years ago, then you have to preserve it and partly elevate it. What we are trying to do is to walk the talk. Revolution is coming up, technology is coming up, and things are changing. And the only way to change it is by improving on what we met on the ground.
“And not only Premier Hotel; we are looking at Airport Hotel, we are looking at Lafia Hotel, so that all the things we met on the ground, we are improving and increasing whatever they have, to keep the legacy.”
Speaking earlier during a media parley held at the company’s boardroom, Cocoa House, Ibadan, Ashiru said that the company’s diversification efforts had been a major driver of its success.
He stated that OICL had made strategic inroads into Agribusiness, Upstream Oil and Gas, Innovation and Technology, and other key sectors, leveraging partnerships that enhanced its competitiveness.
According to him, the initiatives have positioned OICL as an attractive investment destination for international investors seeking credible opportunities in Nigeria.
