O’dua Investment Company Limited (OICL) has disclosed that its new investment initiatives  would target healthcare, transportation and logistics, ICT, energy and financial services.

Its Chairman, Dr Segun Aina, disclosed this at the 45th anniversary celebration held recently in Lagos with the theme “From Regional Player to Global Powerhouse.”

Aina noted that OICL was  undergoing restructuring to enhance its performance, achieve sustainable growth, adding that the company, owned by the six states in the South-West, aims to emerge as a world class conglomerate in no distant time

“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 stated.

He said the company had outlined plans to also transform its hotels into world class destinations, driven by partnerships and global brands.

The board chairman disclosed  the company  new outfits, which include 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.

He also noted that OICL was being transformed into a 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.

In his speech, Mr Adewale Raji, Group Managing Director of the company, said the conglomerate was repositioning itself to fulfil its role as both an investment vehicle and a growth engine of the South-West.

He said the company was exploring many possibilities, including starting new businesses to strengthen its operations and add value to the economy.

Raji said the rich heritage that O’dua investment had preserved over the years 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.

A management expert and a former Country Manager of Accenture, Dotun Sulaiman, who gave the anniversary lecture , said O’dua investment was a treasure inherited from past leaders of the South-West region and that there’s need to reposition it and take it to greater heights .

He urged the company to focus on its areas of strength and  foray into emerging but lucrative sectors of the economy.

The expert said the company had missed many investment opportunities in viable sectors like telecommunication, energy and fintech in the past but that it was not too late to consider those areas.

Lagos State Governor,  Babajide Sanwo-Olu, said there’s need for the company to explore new areas of opportunities in the economy.

Represented by Dr Obafemi Hazmat, his deputy, Sanwo-Olu urged the company to consider investments in agricultural storage and processing to tap the opportunities in those areas.

“In our country today, 45 per cent of tomatoes produced get wasted. Not that we do not produce enough, but not everything gets to the consumers table.

”So, why don’t we go into storage and processing of these things? We have cocoa plantations, why don’t we invest in those areas to align with the intent of our founding fathers,” he said.

Sanwo-Olu said the world was changing and new investment opportunities were emerging and urged the company to move with the times.

Governors of the other five states, represented by their deputies, commended the company for the heights attained, pledging their support.

SUN