Segun Atanda/
The appointment of Dr Tajudeen Tola Kasali as Group Chairman of Odu’a Investment Company Limited marks a significant leadership transition at one of Nigeria’s most strategically important regional investment institutions, with implications extending beyond corporate governance to the economic fortunes of the six South-West states that jointly own the conglomerate.
Odu’a formally inaugurated Kasali during a meeting of its Board of Directors on July 30, completing a succession process that the company said reflects its long-standing commitment to institutional continuity, transparency and rotational leadership among its shareholder states.
The transition comes at a time when Odu’a has re-emerged as one of Nigeria’s strongest indigenous investment groups after years of restructuring.
Jointly owned by the governments of Lagos, Ogun, Oyo, Osun, Ondo and Ekiti states, the company occupies a unique position in Nigeria’s economic landscape, serving as a regional investment vehicle with interests spanning hospitality, real estate, agriculture, financial services and industrial investments.
For decades, Odu’a has been regarded as one of the South-West’s most important economic institutions, tracing its roots to the assets inherited from the former Western Region. The company has historically played a central role in preserving and expanding strategic regional investments while supporting economic development across the Yoruba-speaking states.
Kasali succeeds Otunba Bimbo Ashiru, whose four-year tenure ended under the company’s rotational governance framework. Ashiru will remain a director until 2028, a move designed to preserve institutional memory and provide strategic continuity during the implementation of the company’s next growth phase.
The leadership handover follows one of the most financially successful periods in Odu’a’s recent history.
According to the company, its transformation strategy converted the conglomerate from an asset-rich but underperforming enterprise into a commercially driven regional investment group.
Among the achievements highlighted by the board were the redevelopment of the iconic Premier Hotel in Ibadan, a strengthened investment portfolio, improved corporate governance, an upgrade of the company’s Agusto & Co credit rating from A+ to Aa-, and a record profit before tax of N23.58 billion for the 2025 financial year.
Those gains have strengthened Odu’a’s position at a time when Nigeria’s sub-national governments are increasingly seeking commercially sustainable institutions capable of attracting investment, creating jobs and reducing dependence on federal allocations.
Kasali, who has served on the Odu’a board since 2020, combines experience in medicine, public administration and state governance. His previous public service roles include Executive Chairman of Ibeju-Lekki Local Government and Commissioner in Lagos State, where he helped champion the establishment of both the Lagos State Emergency Management Agency and the Lagos State Safety Commission.
His immediate challenge will be overseeing the implementation of the company’s SRC 2.0 Strategic Framework covering 2026 to 2030. The strategy aims to increase cash-backed profit before tax to N30 billion, grow total assets to N1 trillion and raise annual group revenue to N50 billion by 2030, while positioning Odu’a among Africa’s leading regional investment conglomerates.
In accepting the position, Kasali pledged to build on the foundations laid by previous leadership and deliver the next phase of the company’s strategic expansion.
The transition is being closely watched within political and business circles because Odu’a’s performance has increasingly become a barometer for economic collaboration among the six South-West states.
The Board said it remained confident that Kasali’s leadership would strengthen the company’s commitment to good corporate governance, long-term sustainability and value creation for its shareholders and the people of the six South-West states.
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