Governors of the Odu’a Investment owner-states rose from a meeting in Ibadan on Tuesday resolving on a five-year plan to raise the revenue base of the conglomerate.

Reading the communiqué of the meeting, Ondo state governor, Dr Olusegun Mimiko said the owner-states resolved, among others, to raise the revenue base of the Odu’a Investment Company Limited  from N4bn to N20bn in 2019.

Present at the meeting were Senator Ibikunle Amosun (Ogun), Ogbeni Rauf Aregbesola (Osun) and Deputy Governor Moses Adeyemo and Kolapo Ishola of Oyo and Ekiti states respectively.

The meeting which had members of board of the companies in attendance was held at the Cocoa House, Ibadan, Oyo state.

The communiqué announced the resolution to admit Lagos state as one the owner-states.

Mimiko said the owner-states have agreed to reposition O’dua Investment as the engine room of the economic growth and development of the south west, and have approved a five-year strategic plan that will grow the company’s revenue base from N4b to 20bn by the year 2019.

 “We have agreed to admit Lagos state as part of Odu’a group. And because of this renewed interest in Odu’a as the engine room of the economic growth of the southwest. We as governors and proprietors so decided that we will now meet the board and management quarterly,” Governor Mimiko said.
Odu’a Investment Company Limited was incorporated in July, 1976 to take over the business interest of the former Western State of Nigeria, now Oyo, Ogun, Ondo, Osun and Ekiti states of the Federal Republic of Nigeria. The company commenced business on the 1st of October, 1976. The company since inception has been operating as a conglomerate with over 70% of its business as investment/joint ventures with reputable multinationals.

Source:Naij