IBADAN – Odu’a Investment Company Limited (OICL) has recorded its highest-ever financial performance, posting a whopping ₦23.58 billion Profit Before Tax (PBT) for the 2025 financial year, a massive 410 per cent jump from the ₦4.62 billion declared in 2024.
The impressive result was announced at the company’s 44th Annual General Meeting (AGM) held at the newly remodelled Premier Hotel, Ibadan, where businessman Dr. Tola Kasali officially succeeded Otunba Bimbo Ashiru as Group Chairman.
The company also unveiled an ambitious roadmap aimed at growing its total assets to ₦1 trillion by 2030, while increasing annual revenue to ₦50 billion and cash-backed Profit Before Tax to ₦30 billion.
Representatives of the six South-West shareholder states, directors, investors and other stakeholders who attended the AGM hailed the performance as a major turnaround for the regional conglomerate.
Presenting the audited accounts for the year ended December 31, 2025, Ashiru disclosed that the group’s operating revenue rose by 78 per cent, from ₦11.34 billion in 2024 to ₦20.22 billion in 2025, while Profit Before Tax surged to ₦23.58 billion.
He attributed the remarkable growth to ₦18.81 billion fair value gains on investment properties, improved treasury management, strong performance in the equities market and disciplined implementation of the company’s strategic initiatives.
“The year under review was marked by several strategic milestones that have permanently repositioned the organisation,” Ashiru said.
Among the landmark achievements, he highlighted the completion of the extensive remodelling of Premier Hotel, Ibadan, which was commissioned by President Bola Tinubu, represented by the Secretary to the Government of the Federation (SGF), Senator George Akume. The hotel is expected to commence full commercial operations in the fourth quarter of 2026.
He also celebrated the 60th anniversary of Cocoa House and announced that Agusto & Co. upgraded Odu’a Investment’s credit rating from A+ to Aa- with a stable outlook, citing stronger corporate governance and sound financial management.
Group Managing Director, Abdulrahman Yinusa, disclosed that the company has commenced the process of securing its first international credit rating to attract foreign investment and access global debt capital markets.
He also revealed that Odu’a Investment had, for the first time in its history, produced fully consolidated financial statements covering the holding company and all its subsidiaries.
“This is a landmark achievement in our corporate governance journey. It provides an internationally comparable and transparent assessment of the collective strength of the Group,” Yinusa said.
The AGM also marked the end of Ashiru’s successful four-year tenure as Group Chairman. He said the company had been transformed from an “asset-rich but cash-poor” organisation into one that is now both asset-rich and cash-rich.
Although stepping down as chairman, Ashiru will remain on the Board of Directors until 2028 to ensure continuity.
Taking over, Dr. Tola Kasali praised Ashiru for laying a solid foundation through the successful implementation of the SRC 1.0 strategy, meaning “Sweat, Revive and Create.”
Kasali immediately unveiled a fresh blueprint tagged SRC 2.0 – “Sweat, Repurpose and Consolidate,” which will focus on maximising returns from existing assets, revitalising underutilised investments and strengthening the group’s financial position.
He disclosed plans to transform Lagos Airport Hotel into a modern mixed-use hospitality and commercial hub, revive Lafia Hotel, develop a 50-megawatt Gas Independent Power Plant through Cocoa Industries Limited and expand the group’s agricultural investments through strategic partnerships.
“The question before us is no longer whether we can survive, but how high we can soar. We are building on a solid foundation and remain committed to achieving these targets through disciplined execution and strategic oversight,” Kasali said.
He assured the shareholder states of Oyo, Ogun, Osun, Ondo, Ekiti and Lagos of the board’s commitment to delivering sustainable returns, creating jobs and driving economic development across the South-West.
Stakeholders at the AGM expressed confidence that the new leadership would sustain the company’s impressive momentum and position Odu’a Investment among Africa’s leading indigenous conglomerates.
