Odu’a Investment Company Limited has announced a record-breaking Profit Before Tax (PBT) of ₦23.58 billion for the 2025 financial year, representing an extraordinary 410 per cent increase from the ₦4.62 billion recorded in 2024, as the conglomerate unveiled an ambitious roadmap to attain ₦1 trillion in total assets by 2030.
The impressive financial performance was disclosed last week during the company’s 44th Annual General Meeting (AGM) held at the newly reconstructed Premier Hotel, Ibadan, where shareholders also witnessed a significant leadership transition as the outgoing Group Chairman, Otunba Bimbo Ashiru, formally handed over the reins of the company to renowned businessman and board member, Dr. Tola Kasali.
The AGM, attended by representatives of the six South-West shareholder states, directors, management staff, investors and members of the media, reflects what stakeholders described as one of the most remarkable transformation stories in Nigeria’s corporate landscape.
Presenting the company’s audited financial statements for the year ended December 31, 2025, Ashiru highlighted a series of record achievements that reinforces the success of the company’s strategic recovery and growth agenda.
According to him, Group operating revenue rose by 78 per cent from ₦11.34 billion in 2024 to ₦20.22 billion in 2025, while Profit Before Tax soared to ₦23.58 billion, driven largely by fair value gains on investment properties amounting to ₦18.81 billion and strong performance in the Nigerian equities market.
“The year under review was marked by several strategic milestones that have permanently repositioned the organisation,” Ashiru stated.
Among the major achievements highlighted was the completion and commissioning of the extensive remodelling of the historic Premier Hotel, Ibadan, which was officially unveiled by President Bola Tinubu, who was represented by the Secretary to the Government of the Federation, Senator George Akume, on the eve of the AGM and is expected to commence full commercial operations in the fourth quarter of 2026.
The company also celebrated the 60th anniversary of Cocoa House, the iconic Ibadan skyscraper regarded as a symbol of the economic vision and legacy of the Yoruba nation.
In recognition of its improving financial health and governance standards, Odu’a Investment secured a major credit rating upgrade from Agusto & Co., moving from an “A+” rating to “Aa-” with a stable outlook.
Ashiru attributed the feat to prudent treasury management, stronger governance structures and disciplined execution of the company’s strategic initiatives.
In his address, the Group Managing Director, Abdulrahman Yinusa, disclosed that the company has commenced efforts to secure its first international credit rating from a globally recognised rating agency.
According to him, the move is expected to position the conglomerate for access to international debt capital markets while attracting foreign direct investment into its various businesses.
Yinusa also announced that Odu’a Investment had achieved another significant milestone by presenting its first-ever fully consolidated financial statements, providing shareholders with a comprehensive view of the financial position and performance of 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,” he said.
The AGM equally marked the end of Ashiru’s four-year tenure as Group Chairman, a period widely acknowledged for repositioning the company from what he described as an “asset-rich but cash-poor” organisation into a strategy-driven investment group that is now both asset-rich and cash-rich.
Reflecting on his stewardship, Ashiru expressed gratitude to the governors of the six South-West states, members of the board, management teams across subsidiaries and staff for their support throughout his tenure.
He maintained that the transformation achieved during the period was the product of collective effort, adding that leadership thrives best when collaboration and shared vision are prioritised.
Although stepping down as chairman, Ashiru will continue to serve on the Board of Directors until 2028, a development expected to provide continuity and institutional stability.
Taking over leadership of the conglomerate, Dr. Kasali paid glowing tribute to his predecessor, describing his tenure as transformational and pivotal to the company’s resurgence.
“Under his visionary leadership, the company transitioned from being asset-rich but cash-poor to a strategy-led investment company that is now both asset-rich and cash-rich. He championed the successful implementation of SRC 1.0, strengthened governance and presided over remarkable financial growth,” Kasali said.
He noted that while the company’s first strategic phase, known as SRC 1.0 — meaning “Sweat, Revive and Create” — successfully revived dormant assets and restored profitability, the next phase would focus on accelerated growth and consolidation.
Kasali unveiled the company’s new strategic framework tagged SRC 2.0, which stands for “Sweat, Repurpose and Consolidate.”
According to him, the initiative is designed to maximise returns from existing assets, unlock greater value from legacy investments and consolidate gains through integrated planning and stronger financial discipline.
Explaining the new strategy, he said the “Sweat” component would focus on extracting maximum value from existing assets through improved operational efficiency, while “Repurpose” would involve transforming legacy assets into higher-value ventures.
He cited the transformation of Premier Hotel from a declining property into a modern five-star hospitality destination as a practical example of the repurposing philosophy.
Kasali further disclosed that Lagos Airport Hotel would be redeveloped into a mixed-use hospitality and commercial hub, while Lafia Hotel would undergo revitalisation as part of the group’s hospitality expansion programme.
He also revealed plans to reposition Cocoa Industries Limited for the development of a 50-megawatt Gas Independent Power Plant and transform agricultural assets into commercially viable farming and agro-processing hubs through strategic partnerships.
The “Consolidate” pillar, he explained, would focus on strengthening the balance sheet, enhancing group-wide collaboration, promoting cross-selling opportunities and achieving greater operational synergies among subsidiaries.
As part of the long-term vision, the new chairman announced ambitious but achievable targets for 2030, including generating ₦30 billion in cash-backed Profit Before Tax, growing total assets to ₦1 trillion and increasing annual group revenue to ₦50 billion.
“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 are committed to achieving these targets through disciplined execution and strategic oversight,” he stated.
Kasali assured shareholders, employees and the governments of Oyo, Ogun, Osun, Ondo, Ekiti and Lagos States that the Board remained committed to delivering sustainable returns, economic development and value creation across the South-West region.
He pledged to devote his full energy and leadership to ensuring the successful implementation of SRC 2.0 and called on directors, management teams and employees across the Group to embrace the new vision.
“To our shareholder states, 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,” he said.
Stakeholders at the AGM described the company’s latest performance as evidence of a successful turnaround strategy and expressed confidence that the new leadership would sustain the momentum toward making Odu’a Investment one of Africa’s leading indigenous conglomerates.