Lagos now Member of Odu’a Investment Company Limited Owner States…As Company Proposes N20b Revenue

The Oodua Owner States Governors on Tuesday January 19, announced the admittance of Lagos state into the Oodua Investement Company Limited just as a new revenue base was proposed for the company  from N4billion to  N20billion.

Addressing journalists on behalf of other Governors shortly after a closed door meeting of the Owner States Governors at the Cocoa House Ibadan, Governor Olusegun Mimiko of Ondo state stated that the meeting was aimed at restrategising the activities of the company and take some relevant far-reaching decisions to reposition the investment and as well boost its economic base in line with the global economic trends.

He disclosed that the five Owner States Governors have approved a five year strategic economic plan to grow the revenue base of the company from N4billion to N20billion.

According to him, “we owner States Governors of Osun, Oyo, Ondo, Ogun and Ekiti state have met with the board and management of Oodu’a Investment Company on the need to improve our activities as regards revenue base.

“We have deliberated comprehensively on the need to improve our revenue base, economic activities and the implementation of new economic strategies in line with the best global economic trends.

“We have also taken far-reaching economic decisions to reposition the investment as the engine room of economic growth in the Southwest.

“To achieve all these, we owner States Governors have therefore approved a five year strategic plan to grow and increase tremendously the revenue base of the company from N4billion to N20billion.

Governor Mimiko further revealed that the Owner States Governors have also agreed on the principle to include Lagos State as part of the Oodu’a Investment Company Limited, saying the economic strategy is a five-year plan aimed at increasing the revenue base of the company from its present N4billion to 20billiion and as well improve the economic activities of the investment for the general benefits of the owner states.

He therefore submitted that the owner States Governors have decided to meet with board and management of the Company quarterly.

“As we have agreed to reposition the company economically, we also implemented principles to admit Lagos State as part of the Odu’a Investment Company Limited with a view to reshape the revenue base of the company.

“In a bid to achieve greater improvement and effective management, we have agreed to be meeting with board and management of the company on quarterly basis”, Governor Mimiko disclosed.

Meanwhile, the meeting was attended by the Governor of Osun, Ogbeni Rauf Aregbesola, his counterparts in Ogun and Ondo States, Senator Ibikunle Amosun and Dr. Olusegun Mimiko, Oyo State Deputy Governor, Otunba Moses Alade Adeyemo, Ekiti State Deputy Governor, Dr. Kolapo Olusola, Secretary to Ekiti State Government, Dr. (Mrs) Modupe Alade, Secretary to Oyo State Government, Mr. Olalekan Ali, Group Managing Director, Oodu’a Investment Company Limited, Mr. Adewale Raji, Directors of the five owner States of Odu’a Investment Company Limited, among other dignitaries and political functionaries.