The Oyo State Government has initiated a significant redevelopment project for the iconic Bower’s Tower, a key tourist site in Ibadan. A concessionaire deal has been officially signed with SystemSpecs Whatadeal Limited, marking a commitment by the Seyi Makinde administration to boost tourism and economic development.

The agreement, signed at the Ministry of Culture and Tourism, Agodi Secretariat, Ibadan, is structured to run for 15 years. The concession period will commence after an initial moratorium of 18 to 24 months, during which the private firm will undertake comprehensive rehabilitation and modernization of the facility to meet global tourism standards.

Tilewa Folami, Director-General of the Oyo State Investment and Public-Private Agency (OYSIPA), explained that the deferred start of the concession period ensures the lifespan of the deal aligns with the site's full operational and commercial viability. This phased approach aims to transform Bower's Tower into a modern, world-class destination, creating a new attraction for residents and visitors.

The arrangement incorporates a revenue-sharing model between the Oyo State Government and SystemSpecs Whatadeal Limited. This framework is designed to deliver sustainable financial returns and preserve long-term value for the state, aligning with the administration's focus on linking projects to economic growth.

Obafela Bank-Olemoh, Managing Director of SystemSpecs Whatadeal Limited, lauded the merit-based approach of the Oyo State Government in awarding the concession. He noted that the project is part of a wider strategy to unlock the economic potential of underutilised public assets through public-private partnerships.

Upon completion, the upgraded Bower’s Tower is projected to increase tourism traffic, stimulate surrounding businesses, and generate employment opportunities, particularly for the youth. Efforts are also underway to improve road networks and access routes leading to the tower to ease movement for visitors and investors.