President Bola Tinubu on Thursday reassured residents of Oyo State and the South-West that the Federal Government is intensifying efforts to tackle insecurity and secure the release of schoolchildren and teachers abducted in Oriire Local Government Area of Oyo State.

The President, represented by the Secretary to the Government of the Federation (SGF), Senator George Akume, gave the assurance during the commissioning of the remodelled and expanded Premier Hotel, Ibadan.

The said the Federal Government was deploying all available resources, including international collaboration, to ensure the safe return of the abductees and combat the rising wave of banditry, kidnapping and other violent crimes across the country.

“I wish to reassure the good people of Oyo State and indeed the South-West that the Federal Government is seriously addressing the upswing in banditry, kidnapping and associated criminalities across the nation.

“Every realistic measure, including international collaboration, is being taken to ensure that the kidnapped victims in Oriire Local Government are safely brought home without harm or avoidable loss of life,” he said.

Tinubu urged citizens to remain vigilant and support security agencies through intelligence sharing and community cooperation, stressing that traditional and religious institutions also have critical roles to play in safeguarding communities.

According to him, sustainable economic growth can only thrive in an atmosphere of peace and security, adding that the administration has continued to strengthen the country’s security architecture through enhanced intelligence gathering, improved inter-agency collaboration, technological surveillance and support for security agencies.

He disclosed that efforts were underway at the National Assembly to strengthen policing structures across the country.

“There is an ongoing process in the National Assembly targeted at enhancing policing at all levels. We hope to roll this out in no distant future,” he said.

The President expressed optimism that ongoing reforms in the security sector were yielding positive results in several parts of the country and would continue until Nigerians could live and conduct business without fear.

Speaking on the nation’s economy, Tinubu said his administration had embarked on far-reaching reforms aimed at addressing longstanding structural challenges and laying the foundation for sustainable growth.

He noted that investor confidence was gradually improving, strategic investments were increasing and key sectors of the economy were showing renewed momentum.

“Our foreign reserves have also attained the highest level in the last two decades,” he said.

The President described the redevelopment of Premier Hotel as a strong vote of confidence in Nigeria’s future and a reflection of growing investor optimism.

“The newly transformed Premier Hotel is itself a vote of confidence in Nigeria’s future. It represents optimism, enterprise and belief in the opportunities ahead,” he said.

He urged investors to take advantage of opportunities in the country, assuring them that government remained committed to creating a conducive environment for businesses to thrive.

Earlier, Tinubu described the rehabilitation of the iconic hospitality facility as the restoration of a national asset with deep historical significance.

“Today, what we are celebrating is not just the reopening of a hotel, but the restoration of a true national icon,” he said.

He commended the six South-West states that own Odu’a Investment Company Limited for preserving and modernising one of the region’s most enduring assets.

Representing Governor Seyi Makinde, the Secretary to the State Government, Prof. Muisibau Babatunde, described the project as a landmark achievement in restoring one of Nigeria’s most iconic hospitality establishments.

“Premier Hotel is more than a hotel; it is a symbol of our collective history and a landmark that has contributed immensely to the social, cultural and economic development of Oyo State and the South-West,” he said.

Governor Lucky Aiyedatiwa of Ondo State described the reopening as “history reborn,” saying the project symbolised resilience, renewal and confidence in the future of the region.

Also speaking, Lagos State Governor Babajide Sanwo-Olu, represented by the Secretary to the State Government, Mrs Bimbola Salu-Hundeyin, said the redevelopment demonstrated how heritage preservation and economic modernisation could work together to drive sustainable development.

In his welcome address, Chairman of Odu’a Investment Company Limited, Otunba Bimbo Ashiru, said the commissioning marked the rebirth of one of Nigeria’s most historic hospitality assets.

According to him, the hotel, established in 1966 as the Western Region’s flagship hospitality facility, has now been repositioned as a five-star destination with its accommodation capacity expanded from 87 to 154 luxury rooms and suites.

Ashiru said the company deliberately preserved the architectural heritage of the hotel while upgrading it to meet global hospitality standards.

He added that Odu’a Investment Company was also pursuing plans to redevelop other hospitality assets, including the Lagos Airport Hotel and Lafia Hotel in Ibadan.

“Premier Hotel is the cornerstone, but it is by no means the final destination. We remain committed to building globally competitive businesses that will restore the South-West to its pride of place as the economic heartbeat of Nigeria,” he said.