Barely a year after incorporation, the 30 months old Nigerian Civil War came to an end. Consequently, the task of rebuilding and reconstructing Nigeria from the ruins of war began. Stabilini Visinoni Limited became a major player of this era.
At that time, Messrs B. Stabilini, Lino Visinoni, Torsei Visinoni and Vito Visinoni were the only shareholders. The company then, became famous for its highly impressive construction of factories and residential houses. By 1977, the shareholding structure expanded and admitted four Nigerians: Prince Bola Ajibola, Chief Kuforiji Rotimi, H.R.H Oba Lipede and Chief S. Fawehinmi. Except B. Stabilini, every other shareholder listed above was also a director.
However, by 1991, all the directors sold out their shareholding to a new group of shareholders. The Visinoni brothers were retained as directors along with three new Nigerian directors: Chief T. K. Akinbami, Dr. B. O. Babalakin and Dr. M. Umaru. This was the turning point for the company.
From 1992, Stabilini Visinoni, propelled by its newly energized board, joined the league of mega construction firms. That year, Stabilini Visinoni began the construction of its first multi-storey building, the 10 storey high rise edifice in central Lagos business district, called the ‘Roof Top’. The construction of the 38- flat Bunu Sheriff Gardens reputed as one of the largest block of flats in Lagos highbrow Ikoyi, also commenced.
The construction of the 12-storey NECA house in Victoria Island, Lagos began during this period. First Bank Plc, Lever Brothers Plc, Nestle Plc, Chartered Bank all became Stabilini Visinoni’s clients in this era.
In June 25 1996, there was a change in Board composition. A year later, 1997, the company commenced work on a multi-million naira 3-residential blocks of flats for Dangote Nigeria Limited.
Thereafter, the Company has successfully executed many high profile projects which include Delta State University Hospital Complex, MMA Terminal 2, Ikeja, Punch Newspapers Headquarters, Nigerian Defence Academy Quarters, Indian High Commission, Cargo Airport Ilorin and Osun State University’s Engineering block among others. Further details are presented in the Completed projects in this brochure.