Odu’a Investment Records 410% Profit Growth as Ashiru Bows Out, Kasali Takes Over
…As Company unveils #1 trillion assets target by 2030, pursues first international credit rating
…As New Chairman Kasali pledges stronger governance as firm targets global investment opportunities
Former Ogun State Commissioner for Commerce and Industry, Otunba Bimbo Ashiru, has stepped down as Group Chairman of Odu’a Investment Company Limited (OICL) after four years of leadership, handing over to Dr. Tola Kasali at the company’s 44th Annual General Meeting held in Ibadan.
Ashiru, who was appointed by the six South-West shareholder states in 2022, said his tenure repositioned the regional conglomerate through strategic reforms despite prevailing economic challenges.
He announced that Odu’a Investment recorded a 410 per cent increase in profit before tax, rising to ₦23.58 billion for the 2025 financial year.
According to him, the performance reflected the company’s successful transformation from an “asset-rich, cash-poor” organisation into one that is both asset and cash rich.
Among the major achievements highlighted were the redevelopment of Premier Hotel, Ibadan, which is expected to commence full operations in the fourth quarter of 2026, the celebration of Cocoa House’s 60th anniversary, and the upgrade of the company’s credit rating by Agusto & Co. from A+ to Aa- with a stable outlook.
Ashiru attributed the improved rating to sound financial discipline and prudent treasury management.
He also expressed appreciation to the governors of the six South-West states, members of the board, management and staff for their support throughout his tenure.
He will, however, remain a member of the Board of Directors until 2028.
In his acceptance remarks, the new Group Chairman, Dr. Tola Kasali, pledged to provide strategic leadership that would drive the full implementation of the company’s SRC 2.0 agenda.
Kasali called on board members, management, staff and stakeholders to work together towards building a world-class conglomerate that delivers sustainable returns, promotes economic development and creates opportunities across the South-West.
He assured the shareholder states of Oyo, Ogun, Osun, Ondo, Ekiti and Lagos that their confidence in the company would be rewarded through improved performance and responsible corporate governance.
Also speaking, the Group Managing Director, Abdulrahman Yinusa, disclosed that Odu’a Investment has begun the process of securing its first international credit rating to enable it access global debt capital markets and attract foreign direct investment.
Yinusa also announced that the company presented its first-ever fully consolidated financial statements, combining the financial performance of the holding company and its subsidiaries to improve transparency and align with international reporting standards.
The company further unveiled an ambitious target to grow its total assets to ₦1 trillion by 2030, reinforcing its commitment to expanding investments and driving regional economic development.
