The Oyo State Government has stated that the Bower’s Tower, one of the state’s landmark tourist sites, is set to be redeveloped within months, in line with the commitment of the ‘Seyi Makinde administration to tourism development.
The state government stated this on Thursday, when it signed a concessionaire deal with SystemSpecs Whatadeal Limited to transform the iconic facility, a popular tourist attraction centre in Ibadan.
At the official documents signing, which took place at the Conference Room, Ministry of Culture and Tourism, Agodi Secretariat, Ibadan, Director-General, Oyo State Investment and Public-Private Agency (OYSIPA), Mr. Tilewa Folami, said the redevelopment would be in phases and that it is aimed at repositioning the site as a major tourism hub and an economic asset.
Folami said the agreement with SystemSpecs Whatadeal Limited is structured to run for 15 years, with the concession period set to begin after the completion of the first phase and a moratorium period of between 18 and 24 months.
Explaining that the selected private firm has been granted up to 24 months to carry out a comprehensive rehabilitation and modernisation of the facility to meet global tourism standards, the OYSIPA DG noted that the decision to defer the commencement of the concession period is to ensure that the state begins to count the lifespan of the deal only when the site becomes fully operational and commercially viable.
He added that the arrangement includes a revenue-sharing model between the state and the concessionaire, stating that the framework was designed to deliver sustainable financial returns for both parties while preserving long-term value for the state.
He said: “This concession will transform the facility into a modern, world-class destination. It is expected to create another attraction where residents and visitors from across Nigeria and beyond can come to see, enjoy and experience Oyo State.
“The initiative aligns with the broader development drive of the present administration, particularly in its second term, where projects have been deliberately linked to economic growth and long-term progress.
“The state’s aviation infrastructure has also recorded major milestones, with the international runway completed in November 2025 and already in use. This was evident when President Bola Ahmed Tinubu landed on the runway during the Olubadan coronation ceremonies. With the prospect of direct international flights, the state is positioning itself as a key gateway for investment and tourism.
“In the agricultural sector, the agribusiness initiative is gaining momentum, enabling the state to move beyond exporting raw materials to focusing on value addition. This shift is expected to boost local industries and create more economic opportunities.
“Infrastructure development has also remained a priority, with road networks expanded and upgraded to connect various geopolitical zones within the state. Improved connectivity is making the movement of goods, services and people more efficient.
“These combined efforts are designed to attract more investors, visitors and tourists, ultimately strengthening the state’s economy and generating employment, particularly for young people.
“The signing of this concession agreement marks another step in this direction, with the investor expected to outline key aspects of the partnership.
“Efforts are also underway to improve road networks and access routes leading to the tower, with a view to easing movement for tourists, investors, and other visitors.
“On the private sector side, execution of the project is being led by SystemSpecs Whatadeal Limited.”
In his brief remark, the Managing Director of SystemSpecs Whatadeal Limited, Obafela Bank-Olemoh, who led other members of the company, lauded the Makinde administration for its merit-based approach to the concession, noting that he never knew or met anyone outside the advertorial that prompted his company’s applications before it was awarded the deal.
He noted that the concession forms part of the state government’s wider strategy to unlock the economic potential of underutilised public assets through public-private partnerships.
Bank-Olemoh said: “Bower’s Tower, long regarded as one of Ibadan’s most prominent historical landmarks, is expected to be transformed into a modern destination capable of attracting both domestic and international visitors.
“Upon completion, the upgraded facility is projected to increase tourism traffic, stimulate surrounding businesses, and generate employment opportunities, particularly for young people.”
The event was witnessed by the Permanent Secretary of the Ministry of Culture and Tourism, Mr Rotimi Babalola, as well as other top management staff of the ministry and OYSIPA.
