Lagos Joins O’odua Group, Acquires 115m shares
Lagos state has finally joined the O’odua Investment Group after forty-two years of galvanizing the economy of states in the western region.
The six Governors of south west region under the auspices of the Western Nigerian Governors Forum on Wednesday formally admitted Lagos State into the Group.
Lagos acquired a total of 115 million shares thus growing the share equity of the company to 690 million.
In a communiqué issued at the end of a two-day quarterly meeting in Lagos, the governors also ratified a document allowing Lagos to acquire land in their respective states for massive rice production
Specifically, all the Governors resolved to embark on a Rice Accelerated Program for Integrated Development (Western RAPID) to further consolidate actions on food security and job creation in the region.
The forum, which is being coordinated through the Development Agenda for Western Nigeria (DAWN) Commission, also signified interest in the concession of the Murtala Muhammed International Airport.
All the governors resolved to consolidate actions on food security and job creation in the South West region.
Odu’a Investment Company Limited was incorporated in Nigeria as a Limited Liability Company in July 1976, to take over the business interests of the former Western State of Nigeria now comprising Oyo, Ogun, Ondo, Osun and Ekiti States.
At inception, it has been operating as a conglomerate owning substantial investment in Real Estate, Food and Beverages industries, Agriculture, Manufacturing, Financial Services, Hotel and Catering, Telecommunication, Printing and Publishing.
The company commenced operations on the 1st of October 1976.
Apart from investments in limited liability companies, the Company also owns substantial properties at choice locations in Ikeja residential/industrial estates and Apapa in Lagos state as well as several residential and commercial properties in Ibadan including Cocoa house, Aje House, Orange Court, Almond Court.
Odu’a Investment Company Limited is a company run by an independent Board of Directors comprising of seasoned, high-flying and accomplished professionals with vast experiences in business and human resources management.