…Targets ₦1tr assets as Tola Kasali becomes Chairman

Odu’a Investment Company Limited has posted a record Profit Before Tax (PBT) of ₦23.58 billion for the 2025 financial year and unveiled an ambitious growth strategy targeting ₦30 billion cash-backed PBT, ₦1 trillion in total assets and ₦50 billion in annual revenue by 2030.

The announcements were made at the company’s 44th Annual General Meeting (AGM), held at the newly remodelled Premier Hotel, Ibadan, where shareholders also witnessed a leadership transition with Dr. Tola Kasali succeeding Otunba ‘Bimbo Ashiru as Group Chairman.

Presenting the 2025 financial results, the outgoing chairman, Ashiru, described the performance as the company’s strongest in recent history despite prevailing macroeconomic challenges.
He disclosed that Group operating revenue rose by 78 per cent from ₦11.34 billion in 2024 to ₦20.22 billion, while Profit Before Tax soared by 410 per cent to ₦23.58 billion, compared with ₦4.62 billion recorded in the previous year.

According to him, the impressive performance was driven by fair value gains of ₦18.81 billion on investment properties and a bullish Nigerian stock market.
Ashiru said the year also witnessed major strategic milestones that had permanently repositioned the conglomerate.
Among them was the completion and commissioning of the extensive remodelling of Premier Hotel, Ibadan, which is expected to commence full operations in the fourth quarter of 2026 as a five-star hospitality destination.

He added that the company celebrated the 60th anniversary of Cocoa House, describing the iconic structure as a lasting symbol of the entrepreneurial heritage of the Yoruba people.
The outgoing chairman also noted that the company’s improved financial health earned it an upgrade in its credit rating by Agusto & Co. from A+ to Aa- with a stable outlook, reflecting stronger financial discipline and prudent treasury management.

In his remarks, Group Managing Director, Abdulrahman Yinusa disclosed that Odu’a Investment had commenced the process of securing its first international credit rating to facilitate access to global debt markets and attract foreign direct investment.

He also announced that the company presented its first fully consolidated financial statements, bringing together the financial positions of the holding company and all subsidiaries to provide shareholders with a comprehensive view of the Group’s performance.
The AGM marked the end of Ashiru’s four-year tenure as Group Chairman.
Reflecting on his stewardship, he said the company had evolved from being “asset-rich but cash-poor” into a strategy-driven investment conglomerate that is now both asset-rich and cash-rich.

He expressed appreciation to the governors of the six South-West states, members of the Board, management and staff for their support, noting that he would remain on the Board as a director until 2028 to ensure continuity.
Taking over as chairman, Dr. Tola Kasali unveiled the company’s new Strategic Resource Consolidation (SRC 2.0) framework, built on the philosophy of “Sweat, Repurpose and Consolidate.”

He explained that while the previous SRC 1.0 strategy focused on reviving distressed assets and restoring profitability, SRC 2.0 would prioritise extracting greater value from existing assets, repurposing legacy investments and consolidating gains through stronger financial discipline and integrated business planning.

“Today, we stand on the shoulders of that achievement. The question is no longer whether we can survive, but how high we can soar,” Kasali, a former commissioner in Lagos State during the governorship of Bola Tinubu, said.

He disclosed that the company plans to maximise returns from its existing investments while transforming key assets into higher-value ventures.
According to him, Premier Hotel has already been repositioned into a world-class hospitality facility, while Lagos Airport Hotel will be redeveloped into a mixed-use hospitality and commercial hub.

He added that Lafia Hotel would be revitalised, Cocoa Industries Limited would be repositioned to host a 50-megawatt Gas Independent Power Plant, while the group’s agricultural assets would be transformed into commercial farming and agro-processing hubs through strategic partnerships.

Kasali said the company would also pursue cross-selling, joint marketing, integrated business planning and a stronger balance sheet, while obtaining an international credit rating to expand access to foreign capital.
“As I assume the role of Group Chairman, I make a firm commitment to devote my utmost time and efforts to ensuring the full actualisation of SRC 2.0. The targets we have set represent a commitment between my leadership and our stakeholders,” he said.

He assured the shareholder states—Oyo, Ogun, Ondo, Osun, Ekiti and Lagos—of sustained value creation through improved returns on investment, workforce development and expanded socio-economic opportunities across the South-West.

Kasali paid glowing tribute to his predecessor, saying Ashiru’s leadership successfully implemented the SRC 1.0 strategy, strengthened corporate governance and laid the foundation for the company’s renewed growth trajectory.
He called on members of the Board, management and staff to embrace the new strategic direction, expressing confidence that Odu’a Investment would evolve into a world-class conglomerate delivering sustainable returns and lasting economic value for the South-West.