OICL Lauds For Sustaining Legacy Of Government Of Western Region•••As Cocoa House Marks 60
•By Kazeem Oyeniyi
IBADAN – It was a gathering of captain of industries, top government officials, investors, other stakeholders as the board and management staff of the Odu’a Investment Company Limited (OICL) celebrated the iconic Cocoa House Building Ibadan at 60.
The board and management staff of the Odu’a Investment Company Limited were on Tuesday applauded for their commitment and tenacity for upholding the legacies of the founding fathers of the western region government.
The construction of the iconic Cocoa House Building which happens to be one of the legacies of the then western region government under the management of OICL started under the leadership and government of the late sage, Chief Obafemi Awolowo and completed under the leadership of his successor, Chief Samuel Ladoke Akintola in July 1964, and was officially commissioned in July 1965.
The vision for Cocoa House was conceived in the late 1950s by Chief Obafemi Awolowo the then Premier of the Western region, who was determined to translate agricultural prosperity into enduring infrastructure.
The edifice was originally established to serve as he headquarters of the Western Nigeria Marketing Board, Cocoa House was designed to centralize the administration of Cocoa exports and facilitate economic planning. It was not merely a commercial space, but a manifestation of regional confidence, industrialization and aspiration.
Sixty years on Cocoa House continues to evolve while maintaining it’s historic stature, beyond serving as a commercial hub with offices, conference facilities, and retail spaces, it also stands as a cultural a s educational beacon.
In his address at the event, the Group Chairman, Odu’a Investment Company Limited, Otunba Ashiru lauded governors of the south west states for their support in sustaining the legacies of the founding fathers.
He maintained that “Cocoa House, at 60 years old, is not just a building we work in; it is a living, breathing chapter of our collective story as a people.From the moment we sang the National Anthem earlier, and through the moving documentary we have just watched, we have been reminded that Cocoa House was not born of chance. It was born of vision. In the early 1960s, at the very height of Nigeria’s cocoa boom, the leaders of the Western Region dared to dream of a commercial tower that would stand as a symbol of prosperity and modernity.
“That dream became reality in 1965, when this 26-storey masterpiece opened its doors—then the tallest building in tropical Africa. Imagine the excitement of that time: a post-independence Nigeria, with cocoa farmers in the West watching as the proceeds of their labour were turned into this towering proof that Africa could design, finance, and build to world-class standards.But history, as we know, is not a straight road.
“The story of Cocoa House took a tragic turn on January 9, 1985, when fire swept through the building. Lives were lost. Families were shattered. And for many, it felt like the heart of Ibadan itself had been wounded.Today, as part of this celebration, we pause to honour those who perished that day. Let us remember them not only with sorrow, but with the knowledge that their sacrifice is forever woven into the fabric of this building’s legacy. May their souls rest in perfect peace.
“The inferno could have been the end of Cocoa House. But just as our forebears built it with courage, so too did the generation after rise with resilience. Step by step, brick by brick, the building was rehabilitated and restored to life, and once again open for business. That restoration was more than construction work; it was an act of defiance, a statement that we will not be defined by our setbacks, but by our comebacks.
“Since then, Odu’a Investment Company Limited has been custodian of this legacy, preserving its historic value, keeping it functional for tenants and partners, and gradually modernizing it to meet new demands. This diamond jubilee is proof that the stewardship of many shareholders, boards, management, staff has borne fruit.So today, I must say thank you, to our shareholders, the Governments and people of the South-West, who entrust us with this treasure.To our Boards past and present, whose governance and foresight have kept the vision alive.” Ashiru said.
Earlier in his welcome address, the group managing director of OICL, Mr Abdulrahaman Yinusa, noted that the Cocoa House Building which was conceived under the golden leadership of Chief Obafemi Awolowo and commissioned by Chief Samuel Ladoke Akintola rose from the rich proceeds of cocoa to claim its place in history as the first skyscraper in West Africa. Standing tall at 105 metres.From day one, it was more than concrete, steel, and glass.
“Today, we are not merely marking time; we are honouring an idea. An idea born in the hearts of our founding fathers, nurtured by the sweat of our farmers, and lifted skyward by the vision of leaders who dared to dream beyond their season.” Yinusa said.
In his remarks, former group managing director of OICL, Mr Adewale Raji said, “I want to say we are privileged to be marking the diamond anniversary of Cocoa House. I wholeheartedly congratulate the shareholders because this is all about them. The board and management and staff of Odua Investment Company who have sustained this legacy that we are celebrating today, giving hope for the future and to essentially say what we celebrate today is we celebrate a lot of courage, a lot of innovation by our fore fathers. Cocoa house was named Ile Awon Agbe to acknowledge the toiling effort of our farmers in sustaining the economy of the then Western region.”
The remarks from the DAWN Commission, DAWN Commission, under the leadership of Dr. Seye Oyeleye, said, “My goodwill message is from two angles. Cocoa House was started under the leadership and government of the late sage, Chief Obafemi Awolowo. He left government in 1959 and his successor, Chief Samuel Ladoke Akintola completed Cocoa House and it was commissioned. That is the value of continuity. He could easily have abandoned the project and we wouldn’t be standing here today to celebrate Cocoa House. So, to our modern day operators, we should always say that, look, you might not be in the same party, but development has no political coloration.
“If Chief Akintola had abandoned Cocoa House, we wouldn’t be celebrating anything because I’m not sure the military men would have completed it. So we salute him for doing that.” Oyeleye said.
Lagos state Governor, Mr Babajide Sanwo-Olu represented by his SSG, Bimbola Salu-Hundeyin said, “It is thing of pride to be amongst all these Omoluabi seated here today in commemoration of the 60th anniversary of Cocoa House, an iconic landmark that holds the distinction of being the first skyscraper in West Africa and remained Nigeria’s only high rise building until 1979.
“Rising majestically to a height of 105 metres, Cocoa House stands as a towering symbol of our enduring legacy and the indomitable spirit of the Yoruba people. Completed in July 1964, just four years after Nigeria gained its independence, it is a testament to the commitment, resilience and forward-thinking attributes of our forefathers, the proud and successful Yoruba people.
“This edifice was originally christened Ile Awon Agbe, the House of Farmers, an apt homage to the lifeblood of our economy at that time, which was agriculture. The evolution of this building’s name into Cocoa House reflects not only a change in name, but a deeper recognition of the pivotal role cocoa, along with rubber and timber exports, played in financing its construction and by extension in driving regional prosperity. A cocoa tree planted by the fountain before this grand structure stands as a living reminder of these roots from which our greatness as a region has flourished.
“Cocoa House was forged through the sweat and resilience of our farmers, the foresight of our fathers and a collective will to invest purposefully and strategically in our future. The Western Region Development Corporation, today’s Odua Investment Company Limited, oversaw this monumental project and through its stewardship continues to protect, preserve and amplify this legacy for generations to come.
“Within this 26-storey landmark, beyond office spaces lies the Odua Museum and Hall of Fame, a sacred space where our history as a Yoruba people is enshrined and celebrated, ensuring that our stories, struggles and successes inspire all who walk through its halls.
“As we reflect on 60 years of this symbol of advancement, we must ask ourselves, what enduring legacy will our generation leave after we’ve gone? What will you be remembered for after you’ve left this space? Where the pioneers before us built foundations, grounded in agriculture and judicious investments.
“We are called to build upon those foundations with greater resolve, to invest boldly, not only in agriculture, but also in technology, education, infrastructure and opportunities that lead to young people positively impact the citizenry and prepare us for an upward, irreversible and sustainable development of our nation. Our unity remains our greatest strength. As the Governor of Lagos State and the Chairman of Southwest Governors Forum, I pledge unwavering commitment to deepen bonds with our fellow southwestern states.Our destinies are intertwined. When Ibadan progresses, Osun rises. When Ondo prospers, Ekiti soars, and when Ogu flourishes, Lagos remains the centre of excellence.
“We must forge stronger regional partnerships to unlock our collective potential. Let this anniversary be a clarion call to action, a tribute to what we have achieved, and a bold declaration of what we will achieve, so that together, together we can build a future that stands even taller and shines even brighter.” Sanwo Olu Babajide said.
The roll call at the event include; Mrs. Titilayo Afola, Olanike Adeyemo – SSG, Oyo State,Tayo Oluwatuyi – SSG, Ondo State, Olatokunbo Joseph – SSG, Ogun State, Teslim Igbalaye – SSG, Osun State, Habibat Omolara – SSG, Ekiti State
Chief Kola Daisi- pioneer Chairman, Senator Kola Bajomo- Ex-chairman OICL, Chief Mrs Iyabode Apampa- Ex-chairman OICL,.Senator Sharafadeen Alli- Ex-chairman OICL, Chief Isaac Akintade- Ex-chairman OICL, Chief Olusola Akinwumi- Ex-chairman OICL, Prince Julius Adelusi Adeluyi- Ex-chairman OICL, Senator Brimmo Yemi Yussuf- Ex-chairman OIC, Dr. Según Aina, OFR- Ex-chairman OICL, Subsidiaries Board Chairmen and MD’s – WEMABOD, ESV Ibukun Efuntayo.
Others include Engr. Nureni Adisa,.Otunba Oluwaseyi Oduntan, Hon. Patrick Ajigbolamu,. Engr. Kehinde Akinola,.Hon. Lasisi Oluboyo, Hon. Sunday Bisi,.Arc. Olajumoke Akinwunmi,. Mrs. Ayotola Ayoyinka Ayodeji,.Mr. Arigbede Olawale, ESV Oladunni Bashir, Mr. Yemi Ejidirian