As part of its continued efforts to further grow and develop the Southwest region, and the nation at large, Odu’a Investment Company Limited (OICL) has invested in eight critical sectors of the Nigerian economy.
Before now, the Southwest owned company had investments in no fewer than five sectors, however, added additional three sectors recently to make it eight sectors it has invested in.
Speaking at the 45th Anniversary of OICL in Lagos recently, Group Chairman, OICL, Dr. Segun Aina, noted that the shareholding states in the company include Lagos, Oyo, Osun, Ondo, Ogun and Ekiti.
On the firm’s investments in critical sectors, Dr. Aina listed Real estate, Hospitality, Healthcare, Agriculture, Transportation and Logistics, ICT & Digital, Energy, and Financial Services.
According to him, the firm developed a Five-Year Strategic Plan to run from 2021 to 2025 with three broad objectives.
“The first is to sweat our existing large portfolio of assets thereby improving returns; second is to revive moribund assets and businesses where possible; and third, to create new businesses, especially in the emerging and fast-growing sectors of the economy,” he noted.
While promising that the group has the strategic intent to dilute ownership in some of the investments it currently has 100 per cent ownership, he added that the firm will equally limit its 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.
“We plan to transform Wemabod Limited, our real estate business, into a leading real estate development company. We have plans to transform our hotels into world-class destinations driven by partnerships with global brands.
SWAgCo, our agriculture investment vehicle, is primed to create a pool of hundreds of thousands of farmers and agripreneurs across the states.
“SWIT will drive our strategic partnerships, investment and activities in the technology and digital space through investments in Tech Hubs, FinTechs and other ICT businesses, 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”.
Expecting that this step will enhance large-scale job creation, rural development, capacity development, and overall economic growth, he called on potential partners and strategic investors to join the company in its new phase of investment.
The guest speaker, Mr. Dotun Sulaimon charged South West State governors, who were shareholders in the company, to be committed to a full restructuring of the entity to reshape the South West economy and in return, give better value and investment returns to shareholders.
Earlier, the group managing director, Mr. Adewale Raji, had said the company has the vision to be a world-class conglomerate and driven by a collective mission and strategy to enhance the legacy for future generations.