Odu’a Investment Company Limited has renovated the historic Cocoa House located in Ibadan, Oyo State.
Parts of the renovated areas that were opened on Thursday include the ground floor reception, an upgraded car park, and improved general surroundings.
Declaring it open, the Oyo State Governor, Seyi Makinde, who was represented by his Chief of Staff, Segun Ogunwuyi, restated his administration’s commitment to supporting initiatives that promote development in the South-West zone, particularly those that honour the contributions of founding fathers.
“We must continue to uplift the legacies of our predecessors and foster progress through collaborative efforts. It is our duty to ensure that initiatives like the renovation of Cocoa House not only preserve our history but also pave the way for future growth. This building is a testament to our shared heritage and economic potential.
“As we celebrate this, let us remember that true progress comes from honouring our past while investing in our future. We are dedicated to creating an environment where innovation can thrive and where the vision of our founding fathers can continue to inspire new generations,” Makinde said.
Earlier, the Chairman of Oodua Investment Company Limited, Bimbo Ashiru, described the event as a continuation of the collective mission to sustain and strengthen the legacy of the group for future generations.
Ashiru said, “Cocoa House remains a beacon of economic resilience and a symbol of pride for the people of Western Nigeria, which has shaped the economic narrative of the region for decades and continues to evolve with the times.
“Today, as we stand at the foot of this historic edifice, we are reminded that while we honour our past, we must also adapt and build for the future. That is why, in the spirit of progress, we embarked on the enhancement of Cocoa House, starting with the development of a modern open office space on the 21st floor.”
He stated that the commissioning of the renovated ground floor reception, car park and surroundings was another bold step in ensuring that Cocoa House remained functional, accessible, and fit for the demands of a modern city.
“As we commission this project, we are already looking ahead. Odua Investment is dedicated to embarking on further enhancements, not only to Cocoa House but to all the assets in our portfolio.
“We remain focused on building a sustainable future, leveraging technology and innovation, and ensuring that Oodua Investment continues to serve as a pillar of economic stability and growth for the region.”
In his remark, the Group Managing Director and Chief Executive Officer of OICL, Abdulrahman Yinusa, said the building held deep historical and economic significance, not only for Oodua Group as a company but for the entire South-West States of Nigeria.
He described its renovation as an important milestone to modernise and enhance the iconic building and its facilities.
He noted that Cocoa House had stood tall for decades, symbolising economic resilience and visionary leadership that the region had long been known for.
“As Nigeria’s first skyscraper, its history is intertwined with the success of the agricultural sector, specifically cocoa, which was the lifeblood of our economy at the time.
“It stands today as a reminder of what we can achieve through dedication, innovation, and unity of purpose. But as we all know, to keep a legacy like Cocoa House alive and relevant, we must adapt to the changing times.
“The building and its surroundings need to evolve to meet modern standards and ensure continued use. This is what today’s commissioning represents commitment to ensuring that Cocoa House remains a place of pride and a functional hub for business and visitors alike,” he declared.
Among the dignitaries were the representatives of five South-West state governors; the Chairman of Development Agenda for Western Nigeria Commission, Seye Oyeleye; subsidiaries and associate companies, among others.