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IBADAN: Real Reason Why Odu’a Investment Shut Down Lafia Hotels

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THE Management of Odu’a Conglomerate Limited, has shut down, one of its three hospitality concerns called Lafia Hotel, located along Abeokuta road in Apata, Ibadan, Oyo State.

The company’s Head of Corporate Affairs, Mr Victor Ayetoro, who recently, through a statement hinted that the closure became imperative following the directive of the Odu’a Board/Shareholders to put a stop to the recurring losses being incurred by the hotels in the group over time to salvage the legacy of the heritage bequeathed by their forebears.

The hotels, as learnt have been struggling with inability to meet up with their financial obligations which include among others; backlog of workers’ salaries, huge debts to creditors, non-remittance of statutory commitments such as VAT, WHT utility bills amongst others.

Also, Mega Icon Magazine reliably gathered that Odu’a Investment Co. Ltd, the sole owner of the hotels had on many occasions came to the rescue of the hotels by releasing funds for renovation purposes and settling some of the outstanding hotel debts/statutory obligations which had been the experience in the past years without any significant improvement in the fortunes of the hotels.

Ayetoro informed that the move kickstarts a new strategy to reposition the hotels in the conglomerate’s chain.

The statement reads: “Odu’a Investment Co. Ltd, which is the sole owner of the hotels, had on many occasions rescued the hotels by releasing funds for renovation purposes and settling some of the outstanding hotel debts in past years.

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“The interventions did not yield fruits in the case of Lafia,

The company further assured the public that third party claims would be reviewed and sorted out while the staff would receive their entitlements as may be agreed after ongoing discussions.

Lafia hotel is one of the hotels inaugurated by Chief Obafemi Awolowo’s government as a step to tap in the tourism economy together with the Premier Hotel and Lagos Airport Hotel . All the three are under the auspices of Odu’a Conglomerate and they all maintained the sanity of a prosperous hospitality concern.

Lafia Hotel was one of the best hotels in Nigeria in the 70s which was the only one fit enough to accommodate the then Head–of–State, General Yakubu Gowon who paid a visit to the Western State then .

The Hotel has like other hospitality outfits been operating within the economic dictate and contemporary business climate overing in Nigeria. That is going from fair to good and for the better.

However, in the past four years, the hotel’s fortune has consistently slid from the good, to the fair and to the bad.

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Crime & Court

NDLEA Intercepts Cocaine Concealed in Prayer Beads, Locally Made Shoes

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The National Drug Law Enforcement Agency (NDLEA) has intercepted a shipment of cocaine ingeniously concealed within prayer beads and locally made shoes, foiling an attempt to traffic the illicit substance.

NDLEA’s Director of Media and Advocacy, Femi Babafemi, disclosed this in a statement on Sunday, revealing that some suspects have been arrested in connection with the smuggling attempt.

Babafemi, who shared images of the seized contraband on X (formerly Twitter), condemned the act, especially in the holy month when religious devotion takes precedence.

“In this holy month, when people are consecrating themselves and making supplications to their God, some persons were preoccupied with concealing cocaine in prayer beads and locally made shoes to desecrate the precincts of the holy land in the holy month,” he stated.

He further noted that vigilant NDLEA operatives intercepted the illicit shipment, preventing the traffickers from executing their plan.

The anti-narcotics agency has intensified its crackdown on drug trafficking, especially methods that exploit religious items and sacred periods to evade detection.

As investigations continue, the NDLEA reaffirmed its commitment to curbing drug-related crimes and ensuring that traffickers face the full weight of the law.

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Politics

El-Rufai Urges Atiku, Obi, Others to Join SDP, Rules Out Merger

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Former Governor of Kaduna State, Nasir El-Rufai, has dismissed the possibility of a political merger ahead of the 2027 general election, instead urging former Vice President Atiku Abubakar, ex-Labour Party presidential candidate Peter Obi, and other opposition figures to join the Social Democratic Party (SDP).

El-Rufai’s call came in the wake of his resignation from the ruling All Progressives Congress (APC) on 10 March, citing a misalignment of values with the party.

In a recent interview with BBC Hausa, the former governor appealed to opposition leaders to unite under the SDP banner to challenge President Bola Tinubu’s administration in the next election.

“My wishes and prayers are that Atiku Abubakar, Peter Obi, Rotimi Amaechi, Rauf Aregbesola, and all opposition leaders join SDP—not to form a merger or register a new party, but to work together towards 2027,” he said.

El-Rufai also expressed his disappointment in the current administration, stating that despite initial confidence in Tinubu’s leadership, he had failed to meet expectations.

“What pains me is that the government we supported and believed in would perform well because we saw what Tinubu achieved in Lagos despite his challenges,” he remarked. “We all know about his issues in Chicago, but we thought if he could replicate his work in Lagos at the national level, we should support him. However, he has failed.”

Meanwhile, the Presidency has dismissed speculation surrounding the 2027 elections, maintaining that President Tinubu is focused on economic reforms and national development.

In a statement on Friday via X (formerly Twitter), Tinubu’s Special Adviser on Media and Public Communications, Bayo Onanuga, stated:

“President Tinubu is not worried about the next election. He is concerned about the shared prosperity he can bring to Nigerians. He is focused on ensuring that, by the end of his first term, he can look back and say, ‘I have impacted the lives of Nigerians and turned this economy around.’”

Onanuga also highlighted the administration’s achievements, including improved foreign reserves, reduced inflation, a growing trade surplus, and increased foreign investments.

Addressing speculation about his own presidential ambition in 2027, El-Rufai said his candidacy would depend on the party and the will of the people.

“It is not for me to decide; it is the party and the people that will decide. Even when I was contesting for governor, it was the people who met and convinced (Muhammadu) Buhari, and he called me to run,” he said.

As political alignments continue to take shape ahead of 2027, El-Rufai’s defection and his call for opposition unity signal growing tensions within Nigeria’s political landscape.

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Politics

I Am an APC Member, I Like to Be Addressed as One – Buhari

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Former President Muhammadu Buhari has reaffirmed his commitment to the ruling All Progressives Congress (APC), stating that he remains a loyal member and will continue to promote the party across the country.

Buhari made this known in a statement released on Thursday by his spokesman, Garba Shehu, amid speculations of defections from the APC.

“I am an APC member, and I like to be addressed as such. I will try to popularise the party by all means,” the former president declared.

Without referring to any individual or ongoing political debates, Buhari reiterated his long-standing position on party loyalty, emphasizing that he would never turn his back on the APC—the platform that brought him to power for two consecutive terms from 2015 to 2023.

He expressed gratitude to the party and its supporters for the trust they placed in him, acknowledging their role in his political journey. “I have nothing but gratitude for the support that the party gave me before and during my tenure as president. That, to me, is the highest honor, and I would never ask for anything more,” he added.

Buhari further stressed the importance of preserving the party’s founding ideals, which he described as a crucial effort to safeguard democracy and uphold constitutional values. According to him, the sacrifices made by the APC’s founding fathers in building a formidable party should be appreciated and sustained.

 

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