Kemi Olaitan in Ibadan
The Odu’a Investment Company Limited (OICL) has declared a profit before tax of N23.58 billion for the 2025 financial year, marking a 410 per cent increase over the N4.62 billion declared in 2024.
The Group Chairman of the conglomerate, Bimbo Ashiru, who made the disclosure at the 44th Annual General Meeting of OICL, held IN Ibadan, said the extraordinary surge was driven largely by fair value gains on investment properties of N18.81 billion and a strong bullish run in the Nigerian stock market.
He stated further that the operating revenue of OICL rose sharply by 78 per cent to N20.22 billion, up from N11.34 billion recorded in 2024, noting that the conglomerate recorded a truly exceptional performance across all key metrics despite the challenging macroeconomic environment that defined the year.
According to him, “The year under review was marked by several strategic milestones that have permanently repositioned the organization”, disclosing that the historic Premier Hotel, after an extensive remodelling project, was commissioned on the eve of the AGM and is set to commence full operations in the fourth quarter of 2026 with a promise to become the most iconic hospitality destination in the city.”
The Group Managing Director of the conglomerate, Mr. Abdulrahman Yinusa, in his remarks, stated “the Group has already initiated the process to secure its first-ever foreign credit rating from a major international rating agency, a move expected to position the conglomerate to access international debt capital markets and attract foreign direct investment.”