The University of Ibadan Ventures Limited evolved from the defunct Centre for Resource Management and Consultancy (CEREMAC) which was made up of profit-making units like the Guest Houses, University Printing Press, Consultancy Services Unit, etc. Back then, CEREMAC was the main organization empowered to implement the effective and efficient use of resources, thereby generating additional funds for the University. It had three divisions, namely: the Consultancy, the Resource Management and the Resource Development. However, in 1985, CEREMAC was dissolved, and these units, i.e. the Guest Houses, Consultancy Services Unit, Agric Enterprises, Performing Company, Printing Press, Publishing House, etc. which were incorporated as CEREMAC resumed operations individually and independent of one another. This continued until late in 1988, when the old commercial ventures coupled with new ones were legally incorporated into a full business holding, and the present day U I Ventures Limited emerged.
The University of Ibadan Ventures Limited, with corporate headquarters at the Conference Centre opposite the Chapel of the Resurrection was incorporated in March 1988 and commenced operation on 1 December, 1988. The company is totally owned by the University of Ibadan.
The company is doing well and has been giving dividends and donation to the University. U I Ventures Limited donated the Student Affairs building complex to the University as part of its contribution to the advancement of goals and objectives of the University. Of recent, a 35kv power generating set was donated to the senior staff club of the University of Ibadan, and during the last quarter of 2010, a sum of N20,000,000.00 was donated to the University.