Bimbo Ashiru Revives O’dua Investment Company’s Legacy

Bimbo Ashiru, the outgoing Chairman of O’dua Investment Company Limited, recounts the revival of the 50-year-old regional investment company, which was initially established by Chief Obafemi Awolowo. O’dua Investment, once asset-rich but cash-poor, has been transformed into an AA-rated conglomerate with aspirations for global competition.

The company, which historically funded initiatives like free education through cocoa revenue, faced challenges during military rule but has regained its strength over the past six years. O’dua is now involved in real estate, hospitality, and manufacturing, holding shares in Guinness and the agriculture sector.

Ashiru notes that O’dua is the only surviving regional investment company from that era, while others in the Northern and South-Eastern regions are being revived. The company’s legacy includes significant contributions to regional development, such as the Cocoa House in Ibadan and Obafemi Awolowo University.