Odua Investment moves to unlock $80bn South West GDP, agric potential
Odua Investment Company Limited, Thursday disclosed moves to unlock estimated South West Gross Domestic Product (GDP) worth over $80 billion and galvanize its huge agricultural potential.
The move was made known in a statement signed by the Group Chairman, Odua Investment, Segun Aina, on the inauguration of six new directors of one of its subsidiaries, SWAgCo.
According to Aina the appointment of new directors of SWAgCo is perfectly timed to ensure implementation its strategies to take advantage of the huge economic potentials in agriculture across the South West region and beyond.
He also explained that SWAgCo is an Agricultural Investment Company, fully owned by Odua Investment Company Limited. With a strong capital base, SWAgCo was established to unlock unrealized agriculture and sub-optimised agribusiness value by transforming underinvested agribusiness opportunities within Nigeria into institutional-grade investment operations.
The parent company, Odua Investment is a private holding company with shareholding by the South Western Governments (Ondo, Ogun, Ekiti, Lagos, Oyo, and Osun States with a population of 40 million and GDP of over $80 billion).
Also, the statement made it known that as part of a strategy to reposition the entire group, the company deemed it fit to appoint the six new board members for a four-year term.
He said: “The new leadership, which were selected through a competitive process handled by KPMG, brings a wealth of professional experience and expertise at a senior level in Investment, Finance, Agriculture and Performance Solutions to consolidate SWAgCo’s operation and set it on the path of achieving its mission to change the landscape of agriculture and agriculture investment in Nigeria.
“SWAgCo is an Agricultural Investment Company, fully owned by Odua Investment Company Limited. With a strong capital base, SWAgCo was established to unlock unrealized agriculture and sub-optimised agribusiness value by transforming underinvested agribusiness opportunities within Nigeria into institutional-grade investment operations.
“The parent company, Odua Investment, is a private holding company with shareholding by the South Western Governments comprising Ondo, Ogun, Ekiti, Lagos, Oyo and Osun States with population 40 million with GDP of over $80billion that we are ready to unlock for the economic prosperity of our people.
“We are pleased to welcome Mr. Owolabi Salami as the Chairman of SWAgCo; Mr. Adeola Adetunji; Ms. Cecilia Akintomide, Ms. Adekemi Ajayi as Non-Executive Directors to the SWAgCo Board, and we especially value the resumption of Mr. Babajide Arowosafe as the CEO and Mr. Adegboyega Osobu as Executive Director of the organization.
“They joined SWAgCo at an exciting time as we begin the journey to grow and expand its operations and implement its strategy for economic and social impact within the agricultural space in Nigeria.”
