The Odu’a Investment Company Limited has reaffirmed its commitment to the economic revitalisation of Ibadanland, declaring that the city remains both its ancestral and corporate home.
This formed the core of discussions during a courtesy visit by the company’s Board and management, led by Group Chairman, Otunba Bimbo Ashiru, to the Olubadan of Ibadanland, Rasheed Adewolu Ladoja, at the Oke Aremo Palace.
Speaking during the visit, Ashiru expressed appreciation to the monarch and the Olubadan-in-Council for granting the audience, while paying tribute to Ladoja’s role in sustaining the legacy of Odu’a Investment. He noted that the monarch, as a former governor of Oyo State and key stakeholder, played a pivotal role in preserving the company during critical periods, describing him as a custodian of the region’s collective wealth.
The Odu’a chairman also commended the prevailing peace and stability in Ibadanland under the Olubadan’s leadership, stating that the conducive environment has significantly boosted investor confidence. According to him, the company’s headquarters at Cocoa House continues to thrive due to the security and harmony fostered by traditional institutions, positioning Ibadan as an emerging investment destination in the South-West.
Providing updates on key projects, Ashiru disclosed that the long-awaited redevelopment of Premier Hotel is nearing completion and would soon reopen as a world-class hospitality and conference centre. He added that Cocoa House, the iconic 26-storey building, has undergone major refurbishment, maintaining its status as a symbol of Yoruba enterprise and economic resilience.
On collaboration, Ashiru acknowledged the Olubadan Economic and Investment Committee (OEIC), stating that its mandate aligns with Odu’a’s vision for industrial revival. He proposed a formal meeting between both parties on May 6, 2026, at the company’s boardroom in Cocoa House to discuss investment opportunities and review underperforming assets, while assuring that Odu’a remains committed to transforming idle assets into productive ventures that will create jobs and drive sustainable growth in Ibadanland.
In his remarks, the Olubadan of Ibadanland, Oba Rashidi Ladoja, emphasised the need to preserve and build on the vision of the founding fathers, urging Odu’a to expand investments into viable sectors across the South-West and beyond.
The monarch also revealed that the Ibadan Economic and Investment Committee is interested in reviving strategic assets such as Aje House and Lafia Hotel, proposing that Aje House be handed over for refurbishment and repositioning as a viable economic hub.
Ladoja assured that he would formally write to invite President Bola Tinubu to the commissioning of the Premier Hotel, while calling on stakeholders to ensure that no critical asset in Ibadanland is abandoned.
“We are in a hurry to develop Ibadanland and the South-West. Historically, the Western Region has led Nigeria in innovation, from free education to infrastructural development. We must reclaim that leadership position,” the monarch said.
He also advocated stronger collaboration with the DAWN Commission and the South-West Development Commission (SWDC) to accelerate regional growth.
According to him, strategic investments by Odu’a would boost electricity supply, potable water and job creation across the region, while addressing the growing challenge of youth unemployment.
“Our desire is to restore Odu’a to the pride of the Western Region—first in innovation, first in development, just as it was in the days of our forefathers,” Ladoja added.
Delivering the vote of thanks on behalf of the board, the Group Managing Director of Odu’a Investment Company described Ibadanland as the soul of the company’s operations and commended the Olubadan for sustaining peace in the ancient city.
He noted that the peace being enjoyed in Ibadanland has been instrumental to the successful rebirth of Premier Hotel and the renewed commercial vibrancy of Cocoa House.
“Because of that peace, our Premier Hotel rebirth is on track. Because of that peace, Cocoa House hums with activity daily. Because of that peace, investors are beginning to look this way again,” he said.
Present at the palace were the Otun Balogun of Ibadanland, Oba Kola Adegbola; Ashipa of Ibadanland, Oba Amodu Ajibade; Ekerin Balogun, Oba Akeem Mobolaji Adewoji; Aare Mayegun of Ibadanland and former CCII President, Chief Bayo Oyero; and the Director-General of the Olubadan Palace, Dr Bashor Olanrewaju, among other dignitaries.
