Francis Akinnodi

O’dua Investment Company (OIC) Limited has restated its commitment to enhance its performance, achieve sustainable growth and transform into a world class conglomerate in no distant time.
The Group chairman, Dr Segun Aina, disclosed this at the 45th anniversary commemorative lecture of the conglomerate at the weekend.
The board chairman said the company, owned by the six states in the South-West, aimed at emerging as a world class conglomerate in no distant time.
“Oodua Investment Company Ltd 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 succeed 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 to an impact-driven organisation.
“Our targets for O’dua investment over the next four years are audacious in terms of social impact, growth in revenue and returns on assets with various assets optimisation programmes planned.
Aina said the company planned to diversify its portfolio of assets beyond real estate and other subsidiaries and associates.
He said the new investment initiatives of the company would now target selected sectors of the economy, including healthcare, transportation and logistics, ICT, energy and financial services.
According to him, the company plans to transform Wemabod Estate, its real estate business, into a leading real estate development company.
He said the company had outlined plans to also transform its hotels into world class destinations, driven by partnerships and global brands.
Meanwhile, Director representing Ondo State in the board, Olalaye Fasua said the company had established new outfits, South West Agriculture Company Limited (SWAgco), Bita Exploration and Production Limited, South West Innovation and Technology Limited (SWIT), among others, to create jobs and grow the economy of the South-West region.
“SwagCo, our agriculture investment vehicle is primed to create a pool of hundreds of thousands of farmers and agroprenuers across the states.
”SWIT would 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.
He commended the owner states – Lagos, Oyo, Ogun, Ekiti, Ondo, Osun – for their consistent support for the company, urging them to continue to support the company to achieve its new vision.
Fasua said that the fact that the company was still existing 45 years after its establishment was a cause for celebration, adding that the conglomerate had not fared badly.