Oodua Investment Group has formally admitted Lagos as one of its investing states.
The group has been galvanizing the economy of states in the western region, for the past forty-two years.
The six governors of South West region under the auspices of the Western Nigerian Governors Forum on Wednesday formally admitted Lagos State into the group.
Lagos acquired a total of 115 million shares thus growing the share equity of the company to 690 million.
In a communiqué issued at the end of a two-day quarterly meeting in Lagos, the governors also ratified a document allowing Lagos to acquire land in their respective states for massive rice production
Specifically, all the governors resolved to embark on a Rice Accelerated Programme for Integrated Development (Western RAPID) to further consolidate actions on food security and job creation in the region.
The forum, which is being coordinated through the Development Agenda for Western Nigeria (DAWN) Commission, also signified interest in the concession of the Murtala Muhammed International Airport.
Oodua Investment Company Limited was incorporated in Nigeria as a Limited Liability Company in July 1976, to take over the business interests of the former Western State of Nigeria now comprising Oyo, Ogun, Ondo, Osun and Ekiti states.
At inception, it has been operating as a conglomerate owning substantial investment in Real Estate, Food and Beverages industries, Agriculture, Manufacturing, Financial Services, Hotel and Catering, Telecommunication, Printing and Publishing.
The company commenced operations on the October 1, 1976.
Apart from investments in limited liability companies, the company also owns substantial properties at choice locations in Ikeja residential/industrial estates and Apapa in Lagos State as well as a number of residential and commercial properties in Ibadan, including Cocoa House, Aje House, Orange Court, Almond Court.
Investments in some other parts of the country are also assets to the company.
Odua Investment Company Limited is a company run by an independent Board of Directors comprising of seasoned, high-flying and accomplished professionals with vast experiences in business and human resources management.