Despite the economic hardship, Odu’a Investment Company Limited has recorded significant financial growth in the 2024 financial year, posting an 81 per cent increase in operating revenue from N3.95b in 2023 to N7.15 billion in 2024.
   
Group Chairman, Otunba Bimbo Ashiru, disclosed this at the 43rd Annual General Meeting (AGM) of the company, which was held recently with all six secretaries to the South-West state governments in attendance. 
   
He stated that despite the economic challenges faced by the country in 2024, the company delivered what he described as “an exceptional performance,” highlighted by a total comprehensive income of N82.26b, up from N9.23b in 2023 a 773 per cent increase driven largely by fair value gains on financial assets.
   
Profit before tax, excluding the fair value gains, stood at N1.78b, a 25 per cent decline from N2.38b in 2023 due to inflationary pressure and increased operating costs.

The meeting approved, among other resolutions, the payment of a dividend of N518 million to shareholders an increase from the N428 million paid in 2023. This marks another year of steady growth in dividend payout and underlines the group’s commitment to delivering value to shareholders.
   
Ashiru also expressed satisfaction with improved collaboration and synergy across the group, citing initiatives that boosted productivity and operational integration.
     
“In 2024, we deepened group-wide collaboration, implemented a new performance-based incentive scheme, and expanded our shared services framework. These efforts continue to shape a more agile, efficient and future-ready Odu’a Group,” he said.
   
Reviewing key projects from the year, he noted the commissioning of the Aurora Ikeja residential development in May 2024, comprising 54 units of terraces, penthouses, and apartments. He also highlighted the completion of the enhanced Cocoa House car park and reception area.
   
Group Managing Director/CEO of Odu’a Investment Company Limited, Abdulrahman Yinusa, highlighted the group’s strong financial performance and strategic growth in 2024, in his yearly report.     
   
Yinusa expressed his appreciation to the shareholders and other stakeholders for their continued support, which has been instrumental in the company’s positive growth trajectory.   He noted that despite global challenges, Odu’a Investment continued to demonstrate resilience and strategic focus.
   
The Group Managing Director also noted that Odu’a Investment’s strategic focus, guided by the SRC 2025 plan (Sweat, Revive & Create), was key to this growth adding that the company’s commitment to improving operational efficiency and value optimisation was evident across all sectors, especially in real estate and energy.
   
Yinusa also mentioned that the Lagos Airport Hotel, Ikeja, is undergoing redevelopment and will soon be transformed into a mixed-use real estate and hospitality project.
   
He noted that the administration’s market-driven approach would attract long-term investments, particularly in infrastructure and social services, leading to sustainable economic development.
   
On the sideline of the meeting, SWAgCo, the agribusiness investment subsidiary of the group, signed joint venture agreements totaling ₦10 billion with four strategic partners—Starlink Global & Ideal Limited, PETAGULS Cultivars & Seedling Technologies Ltd, Foodlocker Limited, and the British American Tobacco Nigeria Foundation (BATNF) in pursuit of its agro-industrialisation across South-West Nigeria and the creation of inclusive, sustainable growth in rural communities.