By Seun Ibiyemi
Chairman of Odu’a Investment Company Limited (OICL), Otunba Bimbo Ashiru has disclosed that the Group is embarking on a new phase of transformation aimed at consolidating assets, improving profitability, and deepening its role in Nigeria’s economic development.
Speaking in an interview monitored ny NewsDirect, the Group Managing Director, Otunba Bimbo Ashiru, said, “Our current focus is on turning around Odua’s fortunes, consolidating our assets, and seeking new investment opportunities.”
“We’re committed to creating jobs and opportunities, which is reflected in our partnerships and investments. I’m proud to say we’re financially strong and liquid, well-positioned for growth and investment.” Ashiru said.
He further disclosed that the Group is prioritising agriculture and currently holds over 30,000 hectares of farmland across the Southwest where crops such as cocoa, maize, and cassava are cultivated.
He further disclosed that OICL recently signed a ₦10 billion cocoa export deal, a move Ashiru described as a demonstration of the company’s confidence in Nigeria’s agricultural potential.
The conglomerate is also revitalising some of its dormant assets, including Premier Hotel and Epe Plywood, as part of a broader effort to boost productivity and enhance regional development. Founded on real estate and construction, Odua’s legacy includes landmark projects such as Cocoa House and Western House, which set the stage for its expansion into multiple sectors.
Beyond its core investments, OICL is also deepening its social impact through the Odua Foundation, chaired by Dr. Mrs. Awolowo Dosunmu, which focuses on education and information technology development in the Southwest.
“Through the Foundation, we’ve not only driven economic growth but also supported human capital development and social progress,” Ashiru stated.
Reflecting on past challenges, Ashiru acknowledged that the company suffered setbacks during the military era due to mismanagement and asset loss.
However, he said Odua has since rebuilt its governance structures and is now guided by transparency and accountability. “We’re working to ensure that such experiences never happen again,” he said.
Ashiru also commended the Southwest Governors for their support and collaboration through the Southwest Development Commission, noting that the partnership has fostered regional integration and opened new investment opportunities in sectors such as mining and research.
Drawing from his extensive experience in the banking sector and as a former commissioner in Ogun State, Ashiru said his professional network has helped attract investments and drive industrial growth.
“During my tenure in Ogun, the state attracted about 75 percent of Nigeria’s total foreign direct investment. I’m leveraging that experience at Odua to drive further regional and national growth,” he said.
To ensure long-term continuity, Odua has implemented a robust succession plan and leadership development framework aimed at sustaining its growth beyond the current administration. “Our goal is to build a world-class conglomerate that continues to thrive for generations,” Ashiru noted.
With its renewed strategy, strong financial footing, and focus on sustainable growth, Odua Investment Company Limited remains a cornerstone of Nigeria’s economy, driving industrialisation, job creation, and economic prosperity across the Southwest and beyond.