Historical Highlights

Brief summary of our 44 years history as a company

Jun 1978
Ire Clay Products Ltd Founded
Feb 1980
Production Activities Commence
Aug 1991
Shut Down
Ire Clay Products Ltd Shut Down
Apr 1998
Production restarts
Production Activities Starts Again
Jan 2007
Odu'a Investment Company Limited becomes shareholder
Nov 2008
Modernization & Rehabilitation of the Brick Plant
Apr 2021
60% Acquisition
NFD Limited Acquires 60% Majority Share
Mar 2022
New Frontier Repositions Ire Clay For Rapid Growth

Read Our History in Detail

The company was founded on June 19, 1978, under the name Ondo State Bricks Work Limited, and was owned by the then-Ondo State Government (now Ondo and Ekiti States). However, activities didn’t start until 1980.The company was forced to close between 1991 and 1998 due to a variety of issues, including inexperienced production staff,  lack of marketing initiatives, and a lack of production capacity, as a result, the then-Ondo state government invited Odu’a Investment Company Limited to become a shareholder in 2007.

The Ekiti State Government established a project implementation committee/interim Board on November 3, 2008, to manage the rehabilitation effort, where an SPV was created and incorporated as IRE CLAY PRODUCTS LIMITED.In 2007, Odu’a Investment Company Limited through the Etex Group (her partner in Nigerite Limited) contacted Ceratec of Belgium to help restructure and rehabilitate the brick plant.

However, the  Ekiti state government published an advertisement in 2021 for interested parties to submit bids for the company’s shares in which New Frontier Developments Limited a Private Equity Company  emerged as the majority shareholder with 60% of shares, Fountain Holdings Limited with 28% of shares and Odu’a Investment Company Limited holding 12% of shares.


No of Bricks Produced (Million)


Successfully Project


Employees & Counting


Year in existence