The Oyo State Government has concluded plans to redevelop the historic Bower’s Tower, one of Ibadan’s most iconic tourist attractions, as part of its broader push to boost tourism and economic growth.
According to a statement signed by Media Adviser to the governor, Dr Suleiman Olanrewaju,the government formalised the plan on Thursday with the signing of a concession agreement with SystemSpecs Whatadeal Limited at the Ministry of Culture and Tourism, Agodi Secretariat, Ibadan.
Speaking at the signing ceremony, the Director-General of the Oyo State Investment and Public-Private Partnership Agency, Tilewa Folami, said the redevelopment would be carried out in phases, with the concessionaire given up to 24 months to complete the rehabilitation and modernisation of the facility.
He explained that the concession agreement would run for 15 years, with the concession period commencing only after the completion of the first phase and a moratorium of between 18 and 24 months.
According to Folami, the arrangement is designed to reposition the tower as a world-class tourism destination while ensuring sustainable revenue through a structured sharing model between the state and the private investor.
“This concession will transform the facility into a modern, world-class destination, attracting residents and visitors from across Nigeria and beyond,” he said.
Folami added that the project aligns with the economic development agenda of Governor Seyi Makinde, particularly in linking infrastructure and tourism investments to long-term growth.
He highlighted ongoing developments in the state, including the completion of the international runway at the Ibadan Airport in November 2025, improved road networks, and expanding agribusiness initiatives aimed at boosting local industries and attracting investors.
Also speaking, the Managing Director of SystemSpecs Whatadeal Limited, Obafela Bank-Olemoh, commended the state government for what he described as a transparent and merit-based concession process.
He noted that the redevelopment of Bower’s Tower would transform it into a modern destination capable of attracting both local and international tourists.
“Upon completion, the upgraded facility is expected to boost tourism traffic, stimulate surrounding businesses, and create employment opportunities, particularly for young people,” he said.
The event was attended by the Permanent Secretary, Ministry of Culture and Tourism, Rotimi Babalola, alongside top officials from the ministry and OYSIPA.
The redevelopment project is part of the state government’s strategy to unlock the economic potential of underutilised public assets through public-private partnerships while preserving their historical significance.
