The Ekiti State Government has officially handed over the Ikogosi Warm Springs to Glocient Hospitality Limited in a 15 years concession agreement.
The government, through its investments management entity, Fountain Holdings Limited, formally handed over the rights to Glocient Hospitality, which was the preferred bidder.
In a statement on Saturday, both party said the agreement was for a 15-year build, operate, and transfer concession that will see the facility be revamped into a world-class tourism destination.
The transfer of rights ceremony was held Friday in the ancient town of Ikogosi, with high-ranking government officials, the traditional ruler of Ikogosi-Ekiti, Oba Elijah Olorunishola, with members of his traditional council, as well as a delegation from Glocient Hospitality Limited in attendance.
A tour of the facility was conducted by members of the Glocient Hospitality team, which included architects, builders, and tourism sector experts, together with community stakeholders.
Speaking at the ceremony, the Acting Group Managing Director of Fountain Holdings Limited, Mr. J.B. Folorunsho, said Glocient was carefully selected based on the company’s corporate and financial capabilities, track record, and roadmap for the phased revamp of the facility.
He described the development as a demonstration of the commitment of the Governor Abiodun Oyebanji’s administration to economic development and creation of jobs for the people of the state.
On his part, Executive Director of Glocient Hospitality, Dele Odufuye, said “We are excited to commence work on this rare gift of nature. We know without a doubt that what this prime asset needs are the right infrastructure and management to attract droves of patrons and activities all year round.”
“Our meticulously drafted roadmap will ensure we meet key milestones in the revamp of this facility over the short, medium, and long term, but the ultimate objective is to turn this facility into a world-class vacation resort, with facilities for golf and other leisure activities. The first phase of this project will see the facility become operational by Q1 2023, and we rely on the support of every single one of us to collectively achieve our goals.”
Odufuye assured all stakeholders that the objective of Glocient Hospitality is to work collaboratively to achieve shared prosperity.
“As a responsible and responsive corporate citizen, community development is at the core of our operations, and we will endeavor to achieve a win-win scenario for us, the government at the state and local governments, and the community.
“Our young people with immense talents, creativity, and energy will also find the revamped Ikogosi Warm Springs Resort we are building to be a hub of activities that would be beneficial to them,” he added.
Speaking on behalf of the host community, Chief Jide Josiah, assured the company of the community’s support to ensure they achieve the set goals.
Ikogosi Warm Springs resort is a globally known tourist attraction located in Ikogosi, Ekiti state, famous for the unique presence of warm and cold-water springs side-by-side – the only location in the world where this exists.
The facility is located within the Ipole-Iloro tourism corridor, and has been long recognised by the Government of Ekiti state as the flagship tourism asset in the state with huge potential for revenue generation and job creation, hence the prioritization of its commencement by Governor Biodun Oyebanji.
Glocient is part of a diversified group of companies owned by an entrepreneur, Mr. Niyi Olajide, with interests in frontier sectors such as agriculture, the knowledge economy and tourism.