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. 

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