Segun Showunmi in Ibadan
Odu’a Investment Company Limited has disclosed that the company is ready to uplift the economy of the six southwestern states through investment in commercial, mechanized agriculture, and property development.
Penpushing reports that the Group Managing Director of the company, Mr. Adewale Raji, while made this known during the media tour and open visit of the Wrestlink Iconic Villa at Alakia area of Ibadan.
The Group Managing Director while addressing journalists disclosed that the company has begun to support the economy of the six shareholder states of the South-West, adding that property development was projected to be viable in Lagos and Ibadan (Oyo State).
Penpushing further reports that, Raji explained that commercial and mechanised agriculture would be the best idea in the other four states of Ogun, Osun, Ondo and Ekiti, noting that the idea of the luxury estate being constructed in Ibadan which is a collaboration between Odu’a, Chapter 4 Estate Company and Westlink Iconic Estates Limited, was borne out of the high prospect that Ibadan, headquarters of South-West.
“We have a responsibility to partake in the lifting of the economy of each of the shareholder states. But we should not be taking emotional decisions but business decisions. In the interland of the Yoruba region where land is accessible, building a house is not an attractive venture because people can get the land and build at their own pace. But areas where there is shortage of land are areas that are appealing for business, that is why Lagos and Ibadan would feature highly in terms of property development.
Penpushing also reports that he pointed out that Oyo and Lagos are looking attractive in terms of investment into property, in other Odua states, adding that the company is looking at agriculture and processing because they have arable land and their climate is good.
“There is no competition between property development and farmlands in the South-West; we can do significant farming and processing in the abundant farmland which are threat to us today because of herders invasion. In those areas you can do significant commercial and mechanised agriculture and making sure you take the products into processing’.
“It is on record that more than 50 percent of our agricultural output ends up being lost during post harvest. Between harvest and consumption, a lot of agricultural products are lost. There are multiple things that can come from cassava, for example, the whiskey, gin and others come from ethanol which typically come as an imported product from sugarcane.”
Penpushing reports that the Director of Public Relations and Corporate Affairs, Chapter 4 Estate Management Limited, Mrs Reis Abiola, said, “One year ago, Chapter 4 and Odu’a Investment Company Limited through their joint venture company, Westlink, embarked on a 124 mixed-luxury residential households development to unlock value from this piece strategically located on 3.8hectares of land.
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