The Group Chairman of the company, Dr Segun Aina, OFR, has revealed that O’dua Investment Company Limited is poised to achieve sustainable growth, achieve rapid expansion, and become a globally respected conglomerate in a short period of time through its ongoing restructuring.
He said this at the 45thAnniversary commemorative lecture held on Friday, November 12, 2021, in Lagos, with the theme: “From Regional Player to Global PowerHouse”.
Owned by the six South-West states of Oyo, Ondo, Ogun, Osun, Ekiti and Lagos, Dr Aina said that the company aims to emerge as a world-class conglomerate soon.
“Odu’a Investment Company Limited is being transformed into a lean, non-operating investment holding company to enhance transparency, focus on investment management and sustainability, traverse a path of maximum impact, and leverage on the models we have seen success in similar institutions across the globe.
”We have redefined our vision to one that captures our ambition appropriately, which is, to be a world-class conglomerate, and a mission to deliver sustainable returns for all stakeholders enhancing the legacy for future generations,“ he said.
Aina said the next four years would be the foundation years for the conglomerate to transform into an impact-driven organization.
“Our targets for Odu’a investment over the next four years are audacious in terms of social impact, growth in revenue, and returns on assets with various assets optimization programmes planned.
He said the company is diversifying its portfolio of assets beyond real estate and other subsidiaries and associates adding that the new investment initiatives of the company would be targeted at particular sectors of the economy, including healthcare, transportation and logistics, ICT, energy and financial services.
“We have the strategic intent to dilute ownership in some of the investments where we currently have 100 per cent ownership while limiting our shareholding in new ventures to minority holdings as may be necessary. We are also seeking partners that will provide capital and technical expertise to run these businesses,” he said.
Furthermore, he said the company intends to metamorphose Wemabod Estate, its real estate business, into a leading real estate development company as well as transform its hotels into world-class destinations, driven by partnerships and global brands.
He added that Odu’a has established new companies such as; South West Agriculture Company Limited (SWAgco), Bita Exploration and Production Limited, South West Innovation and Technology Limited (SWIT), among others, for job creation and growth of the South-West region economy.
“SwagCo, our agriculture investment vehicle is primed to create a pool of hundreds of thousands of farmers and agro-prenuers across the states.
”SWIT will drive our strategic partnerships, investment, and activities in the technology and digital space through investment in Techhubs, FinTechs and other ICT business, thus creating huge jobs, a new crop of techpreneurs and wealth as we also set out to support the development of a digital economy in the South West,”he said.
Dr Aina commended the South-West states for their continuous support for the company, urging them to continue to support the company to achieve its new vision.
The Group Managing Director of the company, Mr Adewale Raji, in his speech, said the conglomerate was repositioning to fulfil its role as both an investment vehicle and a growth engine of the South-West.
He said the company in a bid to strengthen its operations and add value to the economy is exploring many possibilities, including starting new businesses, stating that O’dua Investment’s rich heritage was worth celebrating.
“One of the examples is our venue for today’s event, the Lagos Airport Hotel, which will be 80 years old next year, and is one of the oldest surviving hotels in Nigeria.
”This for us, like many of the other assets in our custody, is not just an investment, but represents a part of our collective history,” he said.
Alleluia is the Assistant Editor and Content Writer at LagosPost.ng. She is a prolific writer and editor, she has written features and news stories on Lifestyle, Sports, Business, Politics and B2B marketing. She is also an event coordinator, host and social media content creator.
