Vice President Yemi Osinbajo, has said investing in technology is the way of the future.
The vice president made the remarks while receiving a team from the Odu’a Investment Company at the Presidential Villa in Abuja on Tuesday.
Prof. Osinbajo praised the conglomerate’s legacy and the vision that created it decades ago, saying, “legacy and history have a powerful draw, but it may be that what the future asks for is even bigger, and this is why we must invest in technology.”
The vice president told the delegation led by the Group Chairman of the conglomerate, Otunba Bimbo Ashiru, that they should “look at technology and see how to change and improve the (business) model.”
The vice president had earlier commended the model where experts and players are allowed to lead in economic and business matters, saying “if the private sector runs businesses, it is far better because it will bring greater dividends.”
He cited the example of the Nigeria Liquefied Natural Gas Company (NLNG) saying “the NLNG is making a lot of money because the private sector has a controlling share and is making money for the country.”
He advised that “there is a need to push the model of using smart and tested people from the private sector to manage enterprises and businesses that government has an interest in.”
Earlier in his remarks, Otunba Ashiru said the vision of Odu’a Investment Company is to become a world-class conglomerate, known for its passion for business with a focus on agriculture and industrialization.
He explained further that the company is exploring international investments and partnerships.
For instance, he disclosed that the Premier Hotel located in Ibadan, Oyo State, one of the well-known businesses of the conglomerate is going into partnership with an international brand.
The hotel will be upgraded to five stars and its rooms will be increased from 87 to 120 under the new arrangement.
Otunba Ashiru informed the VP that Lagos State had recently joined Odu’a Investment Company and had been presented with its shareholder certification.
The State governments of Southwest Nigeria own the Odu’a Investment Company.
Members of the delegation includes the Group Managing Director Odu’a Investment Company Mr Adewale Raji; other directors that formed part of the entourage Dr. Tola Kasali, Mr Seni Adio, and Otunba Adebola Osibogun.
Others are Managing Director, SWAgCo Ltd, Mr. Babajide Arowosafe and Head, Branding and Communications at Odu’a, Mr Victor Ayetoro.
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