OBAFEMI AWOLOWO UNIVERSITY INVESTMENT COMPANY LIMITED
OAUICL PLAZA, BESIDE CONFERENCE CENTRE AND GUEST HOUSES LIMITED, ROAD 8, OAU CAMPUS, ILE-IFE, OSUN STATE, NIGERIA
INVITATION TO SUBMIT A PROPOSAL
BUSINESS AUDIT AND TRANSFORMATION PLAN
Ref: OAUICL/BOD/2026/024

1. THE COMPANY
The Obafemi Awolowo University Investment Company Limited (OAUICL) is the investment and commercial arm of Obafemi Awolowo University, Ile-Ife. It operates independently, and exists to generate income for the University and to reduce its dependence on government subvention.
It has five operating subsidiaries, in printing and publishing, bottled water, hospitality, books and stationery, and consultancy and real estate. Two further units are presently closed.

2. WHY THE BOARD IS COMMISSIONING THIS WORK
A new Board of Directors was inaugurated on 7th October, 2026. Over three days the Board visited every operating subsidiary and met the management of each. It observed plant running well below capacity, premises and equipment poorly maintained, and staff present but under-trained and under-equipped. In most cases management operates without management accounts, targets, performance measures or training.
Those are observations, not a diagnosis. The Board requires a diagnosis prepared independently of itself, a verified baseline, and a costed plan against which it can be held to account.
Proposals are therefore invited from firms able to undertake this work, in two workstreams.

3. WORKSTREAM A — BUSINESS AUDIT
A diagnostic of the Company and of each subsidiary, to establish a verified baseline.
– Commercial. What each business does, the market it serves, its share and its competitors. Revenue, cost structure, margin and profitability by line of business, on a verified basis. Pricing and competitiveness against the market. Capacity against actual output.
– Assets and operations. A complete asset register, verified by inspection, with condition and valuation. Plant, equipment and facilities: what is installed, what runs, what is idle, what requires repair or replacement. Maintenance regimes, or their absence. Premises: condition, utilisation and title.
– People and capability. What each management role requires, and what each holder brings against that requirement, objectively assessed. The gap, role by role, and what it would cost in time and money to close. Staff complement, structure, emoluments and productivity. Succession exposure.
– Systems, information and control. What management information exists, who produces it, and whether anyone uses it. Accounting systems and records, and their adequacy for a company intending to list. Internal controls, segregation of duties, and exposure to fraud. Bank accounts, mandates, signatories and approval limits across the group.
– Obligations and commitments. A complete schedule of subsisting contracts and obligations. All standing payment instructions, direct debits, guarantees, charges and liens. Concessions, leases and management arrangements over the assets of the Company. Capital projects in progress. Inter-subsidiary balances. Litigation and contingent liabilities.
– Compliance and governance. Statutory filings and returns, current and outstanding. Corporate structure: which entities are incorporated, which are divisions, and whether the structure serves the Company’s purpose. Readiness measured against the requirements of a public listing.