The management of the Odu’a Investment Company Limited has announced that its Board has inaugurated new strategic business units as it launches into joint ventures in its drive for expansion and profit taking.
The Group Chairman of Odu’a, Dr Segun Aina, at an interactive webinar session with business leaders on focusing on emerging business opportunities within the Odu’a Group and the drive for partnership and business alliances, stated that the company’s Board embarked on corporate restructuring.
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According to him, the company’s drive is targeted at strategies to grow its revenue and assets using new key investment opportunities in spheres of technology, financial services, healthcare, oil and gas.
Aina said, “We won the Bita Oil and Gas marginal field, and are finalising partnerships with investors for Capex. We have set up the South-West Agricultural Company to focus on agriculture and the South-West Innovation and Tech Company Incorporated for Fintech.
‘We also made hospitality partnerships in the Lagos Airport Hotel and Western Hotels, Real Estate Asset Leveraging (Wemabod and OICL), and created a facility management company as Wemabod Subsidiary. We plan to dilute equity in existing subsidiaries of the company.”
A Senior Partner at KPMG, Chief Joseph Tegbe, in a presentation titled, ‘Setting the tone for OICL’, told participants that the consulting firm carried out a strategic health check which revealed some issues that warranted redefining its aspirations.
Tegbe stressed that the governors of the South-Western states, as shareholders in Odu’a Investment, decided to strengthen the company’s Board and governance structure, stressing that “The Sweat, Revive and Create was then crafted to galvanise the group for transformation and taking advantage of the opportunities within the Nigerian economic landscape.”
Governor Babajide Sanwo-Olu of Lagos State, represented on the occasion by his Special Adviser on Sustainable Development Goals and Investments, Mrs Solape Hammond, expressed his satisfaction on the repositioning of the company.
That is a very good step to take.