Odu’a Investment Company Limited will spend over N20 billion on the ongoing redevelopment of the Premier Hotel, Ibadan, Oyo State capital,
Group Chairman of Odu’a Investment Company Limited, ‘Bimbo Ashiru disclosed this on Thursday during a facility tour of the hotel.
The redevelopment of the hotel will also have the number of rooms increased from 87 to 154.
‘What I’m looking at can’t be less than N20 billion 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’ Bimbo said.
Team@orientactualmags.com learned that Bimbo had earlier told journalists at the company’s boardroom, Cocoa House, Ibadan, that Odu’a Investment Company’s diversification efforts has been a major driver of its success.
The company, he added, has made strategic inroads into Agribusiness, Upstream Oil and Gas, Innovation and Technology, and other key sectors, leveraging partnerships that enhanced its competitiveness.
The initiatives, he noted, have positioned OICL as an attractive investment destination for international investors seeking credible opportunities in Nigeria adding that efforts are underway to raise funding for the BITA Marginal Oil Field’s development, intending to achieve First Oil once regulatory approvals and financing are secured.
Following recent power sector reforms, the Odu’a Investment, he added, is actively exploring partnerships to participate across the electricity value chain, aiming to enhance energy access and economic growth in Southwest Nigeria–Team@orientactualmags.com Do you have any information you wish to share with us? Do you want us to cover your event or programme? Kindly send SMS to 08059100286, 09094171980 or get in touch via orientactualmag@gmail.com. Thank yo
