Southwest GDP worth over $80bn ― Odua Investment Company

The Odua Investment Company Limited has said the Southwest Gross Domestic Product (GDP) is worth over $80 billion as the region has a population of 40 million people with the ability to create wealth through agriculture. 

The organisation which birthed Southwest Agricultural Company Limited (SWAgCo) noted that the agricultural investment company would harness the untapped potential of agriculture in the region in order to create wealth, job opportunities and contribute to the nation’s GDP growth. 

SWAgCo was invented to unlock agriculture and sub-optimised agribusiness value by transforming underinvested agribusiness opportunities within Nigeria into institutional-grade investment operations.

Meanwhile, in an effort to reposition SWAgCo, Odua group has appointed six new board members for a four-year term. The group said the development was part of a strategy to strengthen its corporate governance and repositioning the company. 

The directors were given the mandate to change the landscape and investment outlook of agriculture in the region. 

The Board of Directors includes Mr Owolabi Salami as the chairman of SWAgCo, who recently retired from the insurance industry, Mr Adeola Adetunji, currently the CEO, Africa for Waxed Mobile and Mvoula Group Limited, Ms Cecilia Akintomide, currently an Independent Director on the Board of FBN Holdings Plc, and Ms Adekemi Ajayi as Non-Executive Director to the SWAgCo board, currently an Executive Director in Odua Investment who will be representing the group on the Board.

The CEO, Mr Babajide Arowosafe and Mr Adegboyega Osobu, executive directors of the organisation, were both appointed through a competitive selection process, conducted by KPMG in late 2020.

The Group Chairman of Odua Investment, Dr Segun Aina, who was speaking at the inauguration ceremony, said the new directors joined SWAgCo at a time of it is implementing its strategy for economic and social impact within the agricultural space in Nigeria.  

“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”, he said. 

Also, Mr Owolabi Salami, chairman of SWAgCo said he is committed to work towards changing the landscape and investment outlook of agriculture in the region. 

“This is a significant moment in the history of our country, it is a great honour to serve as Chairman of the SWAgCo Board of Directors. I am proud of the major accomplishments over the past few months of its establishment and the commitment put into the pre-operational phase of the institution by the Interim Board. I look forward to working closely with all our shareholders, and the management team,” he added. 

 

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE

Cryptocurrency: Understanding The Craze, Threat

ON Friday, February 6, the Central Bank of Nigeria (CBN) rocked the boat with a circular that inadvertently highlighted how popular cryptocurrency transactions have become among Nigerians in recent years, judging by… 

ICYMI: Yoruba, Hausa Teachers Needed In US

The US Embassy and Consulate in Nigeria has announced that the services of Yoruba and Hausa teachers are needed in the United States. According to the Public Affairs Section of the US Mission Nigeria…

Controversy Over Man Who Jumped From 7th Floor Of 1004 During EFCC Raid

The police in Lagos State have begun investigations into the circumstances surrounding the alleged death of a man at 1004 Estate, Victoria Island, who allegedly jumped from the 7th floor of one of the buildings. The man was…

 

You might also like
Comments

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More