Sanwo-Olu
Lagos State governor, Mr Babajide Olusola Sanwo-Olu, on Friday, called on his counterparts in the South-West states to invest massively in Agricultural development which includes storage and processing.
The governor made the call at the 45th Anniversary Lecture of Odu’a Investment Company held at the Airport Hotel, Ikeja, saying they should this 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, adding that such step was essential to the survival and revitalization of the region.
Sanwo-Olu, who was represented by his deputy, Dr Kadri Obafemi Hamzat, sadly noted that 45per cent of tomatoes produced in the country get wasted due to poor storage and processing as not everything gets to the market, adding that such underscored the need for government in the region to invest in such areas.
“We have Cocoa Plantations, why don’t we invest more in all those things. We must realise that the world is changing and as such bricks and mortar may not necessarily be the only thing to invest in,” he said.
The governor, while congratulating the management of Odu’a Investment that it is still standing 45 years after, stated that it was important to accelerate the ideas behind setting up the company to enable it to meet up with the challenges bedevilling the country.
He described the theme of the anniversary lecture: “Odu’a Investment: Transforming from a Regional Player to a Global Powerhouse” as very apt and extremely important, saying all hands must be on deck to scale up and lift the company to a global powerhouse which all states in the region must leverage on.
Sanwo-Olu said the future beacons on all, pointing out that all stakeholders had a responsibility to accelerate the process of transforming the legacy and the vision of the founding fathers of the company to make it better.
Chairman, Board of Directors, Odu’a Investment Company, Dr Segun Aina, in his address, disclosed that the company planned to upgrade and fine-tunes its corporate social responsibility efforts, saying it had established an Odu’a Investment Foundation which would be supported by the company and its partners to selectively intervene in healthcare, education, youth development and allied matters.
Aina added that the company also planned to diversify its portfolio of assets beyond real estate and its existing subsidiaries and associates.
According to him, the company’s new investment initiatives will now target eight selected sectors of the economy which include, Real Estate, Hospitality, Healthcare, Agriculture, Transportation and Logistics, ICT and Digital, Energy and Financial Services.
He said that the company intended to dilute ownership in some of its investments where it currently has 100 per cent ownership while limiting its shareholding in new ventures to minority holdings as may be necessary as well as seeks 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 not just commemorate how far the company had come since it was incorporated 45years ago, but to paint a picture of how far it hoped to go.
Raji added that as the company repositions itself to fulfil its role as both investment vehicle and growth engine for the South-West, it is imbued with a vision to be a world-class conglomerate driven by a collective mission and strategy to enhance this legacy for future generations.
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