In the early ninety-nine ties, prior to its incorporation as a Limited Liability Company and licensing as an Independent Markerter of Petroleum Products, it was trading with the name of Mrs Mutiat Teniola Adeniran, its Managing Director as suppliers of Automotive Gas Oil (AGO) and Premium Motor Spirit (PMS) and had International Institute of Tropical Agriculture (IITA), Nigerian Breweries PLC, Exide Batteries, Diamond Foods, Union Beverages, Nigerian Wire and Cables, etc. Mutlad Ventures Limited Limited was incorporated on February 15, 1996 under the Companies and Allied Matters Act 1960, as amended, at the Corporate Affairs Commission of the Federal Republic of Nigeria and has Engr. Mutairu Tayo and Alhaja Mutiat Teniola Adeniran as shareholders. Later, on August 25, 2021 Mr. Abdul Samad Temitayo was elected a Non-Executive Director.