Odua eyes assets renewal to strengthen market position

Odu’a Investment Company Limited (OICL) has completed significant renovations of Cocoa House in Ibadan, aiming to strengthen its legacy as a central hub for commerce in Nigeria’s southwest region.

Bimbo Ashiru, OICL Chairman, in a statement, said that the renovations mark the beginning of a broader strategy to modernize the conglomerate’s infrastructure for business benefits and public use.

Ashiru, speaking at the project’s unveiling, emphasised OICL’s vision to build a sustainable future, enhancing its assets with technology and innovation. “We remain focused on economic stability and growth for the region,” he said.

The refurbished Cocoa House, originally built 59 years ago, now features expanded parking, improved landscaping, and a modernized reception area, enhancing accessibility and safety for its visitors.

Read also: Odu’a Group expands business frontiers, opens office in Lagos

Governor ‘Seyi Makinde of Oyo State, represented by Chief of Staff Segun Ogunwuyi, commended OICL for the project and reiterated the state’s commitment to creating a conducive environment for investors. “The Cocoa House improvements reinforce our dedication to supporting commerce in Oyo State,” Makinde stated, noting the building’s significance as an economic symbol in Yorubaland.

Further emphasising this point, Abdulrahman Yinusa, OICL’s Group Managing Director, underscored the company’s drive to be a world-class conglomerate. “The renovations will streamline movement and boost efficiency for the entire district,” he said, adding that these upgrades align with OICL’s mission to preserve Cocoa House’s historical and cultural essence.

The event, attended by OICL directors, business leaders, and dignitaries, was met with high praise. Past OICL Managing Directors Adewale Raji and Adebayo Jimoh celebrated the project as a testament to OICL’s dedication to economic growth. “The renewed Cocoa House stands as a symbol of pride for Oyo State,” Raji noted, signaling the conglomerate’s ongoing commitment to regional prosperity.