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After four years of intense debates, Lagos State has finally become a part of Odu’a Investments Company Limited, the investments business group that hitherto had five Southwest states of Osun, Oyo, Ondo, Ogun and Ekiti as owners.
The announcement was made on Tuesday in Ibadan after governors of the five owner states ended a marathon meeting that held in Cocoa House, the company’s headquarters in Ibadan.
According to Governor Mimiko, the Board, apart from agreeing to admit Lagos into its fold, approved a five-year strategic plan to raise the company’s revenue from its current N4 billion to N20 billion.
His words:
“The owner states and the Board approved a five-year strategic plan to grow revenue of Odu’a Investments Company Limited from N4 billion to N20 billion. We also agreed in principle to admit Lagos State as an owner state. We have renewed interest in Odu’a as the engine room of economic growth and development of the West. We also agreed to meet quarterly.”
There had been a long drawn case for Lagos, created 40 years ago, to be part of the conglomerate since it is a Yoruba state situated in the country’s southwest like the five others.
In attendance at Tuesday’s were Osun State Governor, Rauf Aregbesola; Ogun State Governor, Ibikunle Amosun; Ondo State Governor, Olusegun Mimiko; Deputy Governor of Ekiti State, Olusola Kolapo and Oyo State Deputy Governor, Moses Alake-Adeyemo.