The Oyo State Government, in a concerted effort to revitalize its tourism sector, has issued a global call for Expressions of Interest (EOI) from investors interested in developing and managing five key tourism sites. This initiative, driven by the Ministry of Culture and Tourism in collaboration with the Oyo State Investment and Public-Private Partnership Agency (OYSIPA), aims to leverage private sector expertise and capital to transform these sites into world-class destinations, thereby boosting the state’s economy and creating employment opportunities. The five sites earmarked for this transformative project are Eleyele Lake, Ibadan Cultural Centre, Bower’s Tower, Iyake Lake in Ado-Awaye, and Idere Hills, each offering unique natural and cultural attractions that hold significant potential for tourism development. This strategic move reflects the government’s commitment to its Tourism Reset Agenda, emphasizing sustainability, community engagement, and strong returns on investment.
The government is seeking partners who possess the financial capability, technical expertise, and proven track record in relevant fields such as hospitality, real estate, and cultural asset management. These partners will be responsible for the comprehensive development and management of the chosen sites, encompassing financing, design, construction, operation, and maintenance. The partnership model envisioned is a Public-Private Partnership (PPP), which aims to harness the strengths of both the public and private sectors to achieve mutually beneficial outcomes. The ultimate goal is to create sustainable tourism destinations that not only attract visitors but also contribute to the socio-economic well-being of local communities. This initiative aligns with the broader goal of diversifying the state’s economy and creating a thriving tourism industry.
To facilitate the EOI process, the government has made available comprehensive information packs, including detailed site memoranda and submission forms, which can be readily accessed on the state’s official tourism website. This transparency aims to provide potential investors with a clear understanding of the scope and requirements of the project, ensuring a level playing field for all participants. Prospective investors are also encouraged to conduct site visits between September 8 and 26 to gain firsthand knowledge of the sites and their potential. This period allows for thorough assessment and informed decision-making before submitting their EOIs.
The deadline for submitting Expressions of Interest is September 30, marking a crucial step in the selection process. It is important to note that this EOI stage is not a tender but rather a pre-qualification process to identify and shortlist suitable candidates. The government retains the right to accept or reject any EOI without incurring any liability, underscoring the competitive nature of the process and the government’s commitment to selecting the best possible partners for the project. Following the EOI stage, shortlisted candidates will be invited to participate in the subsequent stages of the selection process, which will involve more detailed proposals and negotiations.
The Oyo State Government’s initiative to revitalize its tourism sector through PPP arrangements represents a significant step towards unlocking the untapped potential of these five key sites. By partnering with experienced private sector players, the government aims to transform these locations into thriving tourist destinations, generating revenue, creating jobs, and contributing to the overall economic growth of the state. The emphasis on sustainability and community engagement further underscores the government’s commitment to responsible development that benefits both the economy and the local population. The success of this initiative will not only enhance Oyo State’s tourism profile but also serve as a model for other regions seeking to leverage PPPs for sustainable development.
This ambitious undertaking reflects a broader trend of governments increasingly recognizing the importance of public-private partnerships in developing key infrastructure and driving economic growth. By leveraging the expertise and resources of the private sector, governments can achieve greater efficiency and effectiveness in delivering public services and promoting economic development. In the context of tourism, PPPs can play a crucial role in transforming underutilized assets into vibrant destinations, generating significant economic benefits and creating opportunities for local communities. The Oyo State Government’s initiative is a prime example of this approach, demonstrating a commitment to harnessing the power of partnerships to achieve its tourism development goals.
