Odu’a Investment eyes N1 trn assets by 2030, group posts ₦23.58bn as profit before tax

….Tola Kasali from Lagos becomes chairman, as Ashiru steps down after 4-year tenure

Odu’a Investment Company Limited, owned by six South West states, is targeting ₦1 trillion total assets by 2030 following the launch of 30 by 2030″ growth strategy, a roadmap officially known as SRC 2.0 (2026–2030).

This is coming as Bimbo Ashiru steps down after four years as the group chairman, while Tola Kasali, a medical doctor from Lagos State, takes over as chairman.

However, addressing shareholders, which included Oyo, Ogun, Ondo, Ekiti, Osun and Lagos states, at the conglomerate’s 44th annual general meeting, the company’s operating revenue rose sharply by 78% to ₦20.22 billion for the 2025 financial year, up from ₦11.34 billion recorded in 2024.

The outgroup chairman said Profit before tax surged by an extraordinary 410 % to ₦23.58 billion, compared to ₦4.62 billion in the preceding year, driven largely by fair value gains on investment properties of ₦18.81 billion and a strong bullish run in the Nigerian stock market.

The AGM held at the newly redeveloped Premier Hotel, Ibadan, Ashiru stated that the financial performance for the year ended 31 December 2025, cemented the group’s place as a true powerhouse of regional economic development.

In presenting the results, Ashiru reported a truly exceptional performance across all key metrics despite the challenging macroeconomic environment that defined the year, adding that the year under review was marked by several strategic milestones that have permanently repositioned the organisation.

The group also celebrated the 60th anniversary of Cocoa House in July 2025, a cherished landmark that continues to symbolise the enduring legacy of the Yoruba nation. This performance did not go unnoticed by the financial community. In a significant external validation of its fiscal discipline, Agusto & Co. upgraded Odu’a Investment’s credit rating from ‘A+’ to ‘Aa-’ with a stable outlook, a direct reflection of the Board’s insistence on financial discipline and the professionalism of its treasury operations.

The historic Premier Hotel, Ibadan, after an extensive remodelling project, was commissioned and is set to commence full operations in the fourth quarter of 2026, promising to become the most iconic hospitality destination in the city.

In his remarks, Abdulrahman Yinusa, Group Managing Director, stated: “The group has already initiated the process to secure its first-ever foreign credit rating from a major international rating agency, a move expected to position the conglomerate to access international debt capital markets and attract foreign direct investment”.

In a landmark achievement for corporate governance and transparency, the Group presented its first-ever fully consolidated financial statements, combining the financial positions of the holding company and all its subsidiaries, thereby providing shareholders with an unfiltered and internationally comparable view of the Group’s collective strength.

The AGM also witnessed a significant leadership transition, as the outgoing Group Chairman, Bimbo Ashiru, concluded his four-year tenure at the helm of the Board. In his valedictory address, the Chairman reflected on the journey from 2022 to 2026, expressing immense pride in the transformation that has seen the Company evolve from being “asset rich, cash poor” to a strategy-led investment company that is both asset and cash rich.

He extended his heartfelt gratitude to the six South-West Governors, his fellow Board members, the Group Managing Director(current and immediate past), the Boards and Management of Subsidiaries and the entire staff in the Group for their unwavering support, and he reaffirmed his belief that “the head of a team is also a member of that team.”

While his tenure as Chairman ends, he will continue to serve as a director on the Board until 2028, ensuring continuity and stability.

Tola Kasali, a medical doctor, in his acceptance speech stated, “as I assume the role of Group Chairman, I stand before you to make a firm and unequivocal commitment that I will devote my utmost time and efforts to ensuring the full actualisation of SRC 2.0.

According to him, I accept this responsibility with humility and an unwavering commitment to the vision of the Founding Fathers that has brought Odu’a Investment to this pivotal moment.

” The targets we have set represent a commitment between my leadership and our stakeholders. I am fully determined to provide the strategic oversight, governance, and support required to achieve these goals.

” As a Board, we will not relent. We will not be distracted. I call on every Board member, every director of our subsidiaries, every member of management, and every staff member across the Group to join me in this mission.

” To our shareholder states—Oyo, Ondo, Ogun, Osun, Ekiti and Lagos—I give you my word: your trust will not be betrayed. To our shareholders, we will continue to deliver consistent returns. To our employees, we will continue to invest in your growth. And to the people of the South-West, we will continue to drive economic development, social impact, and create opportunities.