OICL Unveils Stunning Transformation of Cocoa House Car Park, Enhances CBD

OICL Unveils Stunning Transformation of Cocoa House Car Park, Enhances CBD

In a landmark event on Thursday 24 October 2024, Odua Investment Company Limited (OICL) officially commissioned the newly renovated Cocoa House Car Park, its surroundings, and the ground floor reception area, marking a significant upgrade to the Central Business District of Ibadan.

The renovation reflects OICL’s commitment to revitalizing key infrastructure within its assets for the benefit of the business community and the general public.

The commissioning was performed by His Excellency, Engr ‘Seyi Makinde, the Executive Governor of Oyo State, who expressed his admiration for the transformation and commended OICL for its vision and foresight.

Speaking at the event, the Governor represented by the Chief of Staff, Hon Segun Ogunwuyi, underscored the importance of such developments in fostering economic growth and ensuring that Cocoa House maintains its status as a symbol of progress and innovation in the region.

“This renovation not only elevates the aesthetic and functional value of Cocoa House but also reaffirms our administration’s dedication to enhancing the infrastructure that drives commerce in Oyo State.

Cocoa House is a historic monument, and these improvements will enable it to continue playing a pivotal role in the commercial activities of our people,” the Governor stated.

In his remarks, Otunba’Bimbo Ashiru, Group Chairman of OICL stated that the renovation project, undertaken by OICL, is aimed at improving accessibility, safety, and the overall experience for visitors and tenants of Cocoa House, which remains a central hub for businesses in Ibadan and across the southwest region.

Enhancements include expanded parking facilities, improved landscaping, and modernized reception areas, all designed to streamline the movement of goods and people while maintaining the cultural and historical essence of the building.

The Group Managing Director, Mr Abdulrahman Yinusa highlighted OICL’s broader vision of creating an enabling environment for businesses to thrive, noting that the renovated car park and surroundings will contribute positively to the efficiency of the entire district.

The Hon Commissioner for Land, Housing and Urban Development, Mr Williams Akin-Funmilayo in his goodwill message reiterated the Ministry’s support for initiatives that enhance economic activities and create a conducive business environment.

“This is a great example of public-private synergy, and we look forward to more projects that strengthen the economic fabric of Oyo State,” he said.

The event was attended by OICL board of directors, chairmen and directors of Odua subsidiary companies, DG Dawn Commission, dignitaries from the private sector, and business partners who all lauded the project as a step forward in the ongoing efforts to develop the state’s infrastructure and business potential.

Past GMDs of OICL, Mr Adewale Raji and Dr Adebayo Jimoh praised the Board and management for the achievement stressing that the renovated Cocoa House and its surroundings will continue to serve as a symbol of pride for the people of Oyo State and a beacon of economic vitality in the region.