•By Oyeniyi Awojoodu, Ibadan
IBADAN – The iconic Cocoa House building located at Dugbe, Ibadan, has worn a new look just as it’s renovated ground floor reception, car park and surroundings was on Thursday commissioned by Odu’a Investment Company Limited (OICL).
The Cocoa House building, a 26-story building, is the first skyscraper building in the West Africa. Serving as a symbol of the city’s rich cultural heritage and economic importance, built in 1965 by the then Western Region Government, led by Chief Obafemi Awolowo.
Cocoa House building owned by Odu’a Investment Company Limited (OICL) originally served as the headquarters of the Western Region’s Ministry of Agriculture, named “Cocoa House” due to its financing through cocoa revenues, while it was designed by Nigerian architect, Olayiwola Olajide.
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The iconic and historic building houses various businesses, including banks, insurance companies, shopping mall and trading firms.
The commissioning event had in attendance Governor Seyi Makinde who was ably represented by his Chief of Staff, Hon. Segun Ogunwuyi, who also represented other five South West state governors, Chairman, Development Agenda for Western Nigeria (DAWN) Commission, Seye Oyeleye, Board of OICL, OICL subsidiaries and associate companies among others.
In his address, the Group Chairman of OICL, Otunba Bimbo Ashiru described the event as continuation of collective mission to sustained and strengthen legacy of Odu’a Investment for future generations.
According to him, Cocoa House remained beacon of economic resilience and symbol of pride for people of Western Nigeria, adding that the iconic building, which has shaped the economic narrative of the region for decades, continues to evolve with the times.
He said, “Today, as we stand at the foot of this historic edifice, we are reminded that while we honor 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 commissioning of the renovated ground floor reception, car park and the surroundings was another bold step in ensuring that Cocoa House remained functional, accessible, and fit for demands of a modern city.
“As we commission this project, we are already looking ahead. Odu’a 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.”
Earlier in his welcome address, The Group Managing Director (GMD)/Chief Executive Officer (CEO) of OICL, Mr Abdulrahman Yinusa said Cocoa House holds deep historical and economic significance, not only for OICL as a company but for the entire South West States of Nigeria, describing it’s renovation as an important milestone to modernize and enhance the iconic building and its facilities.
He noted that Cocoa House has stood tall for decades, symbolizing economic resilience and visionary leadership that the region has long been known for.
He said, “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-our commitment to ensuring that Cocoa House remains a place of pride and a functional hub for business and visitors alike. He said.