Sanwo-olu urges Odu’a investment to focus on agric value chain

Sanwo-olu urges Odu’a investment to focus on agric value chain

Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu, has called on his counterparts in Southwest States to invest massively in Agricultural development, including storage and processing, to realign with the intent of the founding fathers for the growth and development of the South Western region in the face of contemporary challenges.

Speaking at the 45th Anniversary Lecture of Odu'a Investment Company held at the Airport Hotel Ikeja, Governor Sanwo-Olu, who was represented by his deputy, Dr. Kadri Obafemi Hamzat, added that it is essential for the survival and revitalisation of the region.

Sanwo-Olu pointed out that 45% of tomatoes produced in the country are wasted due to poor storage and processing facilities because every product does not get to the market, adding that such challenges underscore the need for the government in the region to invest more in such areas.

While congratulating the management of Odu'a Investment Company for maintaining the company for 45 years, the Governor stated that it is important to accelerate the legacies of setting up the company to meet the challenges bedevilling the country.

Sanwo-Olu said the future beckons on all to accelerate the process of transforming the legacy and the vision of the founding fathers of the company to make it better.

In his address, the Chairman, Board of Directors, Odu’a Investment Company, Dr. Segun Aina, disclosed that the company plans to upgrade and finetune its corporate social responsibility efforts, revealing that it also intends to establish an Odu’a Investment Foundation to be supported by the company and its partners in a bid to selectively intervene in healthcare, education, youth development and allied matters.

Dr. Aina explained that the company also plans to diversify its portfolio of assets beyond real estate and its existing subsidiaries and associates, stating that the company’s new investment initiatives will now target eight selected sectors of the economy which include Real Estate, Hospitality, Healthcare, Agriculture, Transportation, Logistics, ICT and Digital, Energy and Financial Services.

He said that the company plans to dilute ownership in some of its investments where it currently has 100% ownership, limiting its shareholding in new ventures to minority holdings as may be necessary as well as seek partners that will provide capital and technical expertise to run the businesses.

Earlier in his welcome address, the Group Managing Director/Chief Executive Officer, Odu’a Investment Company, Mr. Adewale Raji, stated that the 45th celebration of the company was carefully crafted to commemorate the achievements of the company since it was incorporated 45 years ago and also paint a picture of its future objectives.

He added that the organisation must reposition itself to fulfil its role as both an investment vehicle and growth engine for the Southwest, noting that the company is imbued with a vision to be a world-class conglomerate driven by a collective mission and strategy to enhance the legacy for future generations.