Agboola Bayo
Ibadan
The Group Managing Director of Odu’a Investment Company Limited, Mr. Adewale Raji yesterday said the conglomerate is to focus more on storage of massive agricultural produce by focusing on the agric value chain through collaboration with large commercial farming operators as part of its five years ‘ambitious plan’ of growing the company’s revenue by 250 per cent.
Mr Raji who stated this while addressing a press conference on his achievement in office in the last 388 days at the company’s corporate headquarters, Cocoa House, in Ibadan declared that Odua investment is also presently working towards ensuring stimulating growth and enhanced profitability in its existing subsidiaries particularly in the real estate, hospitality, and insurance brokerage.
According to the GMD, the company has commenced search for “credible local and foreign technical investors” as partners in its targets sectors of the Nigerian economy especially hospitality, agribusiness, real estate, manufacturing, financial services and other blue ocean opportunities.
The GMD pointed out that Odu’a Investment is taking a cue from the vacuum of industrial storage for massive agricultural produce by focusing on the agric value chain through collaboration with large commercial farming operators to put it’s existing land bank of over 50,000 hectares across the owner states into optimal farming and processing enterprises.
Speaking further,the GMD declared that his five years ‘ambitious plan’ of growing company’s revenue by 250percent is already yielding positive results following the cooperation of the Odu’a investment board of directors, management, staff and owner states of Odu’a.
Buttressing this, Mr Raji hinted of the successful completion of the Ire Clay & Burnt Bricks project in Ekiti state after about 10 years of abandoning the factory, saying, “it is indeed a big relieve that after many years of toiling and perseverance, we were finally able to see finished blocks roll out from the factory”.
“I am delighted to share with you the exciting news of the rolling out of the first set of fired bricks on Tuesday June 16, 2015 after about 10years of the abandonment of the factory closed. It is indeed a big relieve that after many years of toiling and perseverance, we were finally able to see finished blocks roll out from the factory, ”he said.
The GMD added that “coming with Ire clay & burnt bricks is a good match in Westlink Todo Construction joint venture recently consummated with a Spanish partner,saying,“ Westlink TodoConstruccion Limited markets highly discernible porcelain and ceramic finishes for floors and walls as well as bathroom, living room and kitchen features. This is one company that promises to genuinely radicalize the interior finishing stage of building construction in Nigeria”.
“We are mindful of the need for us to attract affordable and long-term capital to fund our initiatives. It is for this reason that we are committed to exploring available options to secure low-cost capital as well as identify and invest in high-growth businesses in target sectors of the Nigerian economy.”
