Odu’a Investment Defies Economic Odds Declares N1.961bn PBT

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Odu’a Investment Company Limited has announced a Profit Before Tax (PBT) of N1.961 billion for the financial year 2023, despite economic challenges. The company’s 42nd Annual General Meeting, held at the Lagos Airport Hotel, Ikeja, Lagos, saw a 7% growth in operating revenue, reaching N3.95 billion.

Shareholders approved the company’s financial statements for 2023 and a cash dividend of N428 million. Group Chairman, Otunba Bimbo Ashiru, highlighted the company’s commitment to sustainable growth through strategic collaborations and innovative business practices.

Outgoing Group Managing Director/CEO, Mr. Adewale Raji, expressed gratitude to shareholders and outlined the company’s focus on non-operating investments. Incoming GMD/CEO, Mr. Abdulrahman Yinusa, reiterated the company’s dedication to redevelopment projects, joint venture partnerships, and key milestones in the energy sector.

Under the leadership of Mr. Adewale Raji, outgoing Group Managing Director/CEO, Odu’a Investment witnessed significant milestones, including the commissioning of the Phase 1 of Westlink Iconic Villa in Ibadan and the establishment of the Odua Investment Foundation. Mr. Raji expressed gratitude to shareholders for their support during his tenure and outlined the company’s strategic focus on non-operating investments across various sectors.

Looking ahead, Mr. Abdulrahman Yinusa, the incoming GMD/CEO, reiterated the company’s dedication to ongoing redevelopment projects, securing joint venture partnerships, and achieving key milestones in the energy sector. With a renewed commitment to growth and profitability, Odu’a Investment remains poised to deliver value to its shareholders and stakeholders