… OICL leads Hotel Transformation into Five(5)-Star Luxury Standard
One of West Africa’s oldest and most iconic hospitality landmarks is preparing for a major comeback. The Premier Hotel Ibadan, perched on the zenith of Mokola Hill and long regarded as a grandstanding Yorubaland Heritage, is currently undergoing a comprehensive reconstruction that promises to transform it into a world-class, five-star destination. The redevelopment is led by Odu’a Investment Company Limited (OICL) and their joint ventures partners. According to the Group Chairman of OICL, Otunba Bimbo Ashiru, this will increase the hotel’s room capacity from 87 to 154 — nearly doubling its original size while delivering a complete refurbishment of its facilities, aesthetics, and guest experience.
The reconstruction is a deliberate repositioning of an institution with deep historical and cultural significance. Premier Hotel has long been one of Nigeria’s most prestigious hotels in Ibadan, historically hosting Heads of state, expatriates, and foreign dignitaries. The redevelopment seeks to restore and elevate that legacy for a new generation of guests and investors. Otunba Ashiru affirmed that OICL and its partners are working round the clock to ensure the relaunch meets its assigned timeline, and also disclosed that the hotel is expected to open its doors to the public in the last Quarter of 2026.
The redevelopment is widely viewed as a major boost for Southwest region’s tourism and hospitality sector, with the potential to attract investment, create jobs, and stimulate economic growth across the region. Beyond commerce, the project signals renewed commitment to preserving and elevating the region’s cultural and historical assets.
The return of Ibadan Premier Hotel is more than a business story. It is a statement that the region’s First Republic heritage is worth preserving and investing in, and that its future is being built by the current OICL Leadership team with the same ambition that defined its past.
See video of the ongoing reconstruction below;