Osinbajo says investment in tech, key to prosperity

Vice President Yemi Osinbajo says investment in technology is the way of the future as it holds prospects for national development.

Osinbajo made the remarks when he received delegation of Odu’a Investment Company at the Presidential Villa, on Tuesday in Abuja.

The Group Chairman of the conglomerate, Bimbo Ashiru, led the delegation.

The vice president commended the legacy of the conglomerate and the vision that birthed it decades ago.

“Legacy and history have a powerful pull.

“But they may be that what the future calls for is greater and this is why we must invest in technology,” Osinbajo said.

He applauded the model where experts and players were allowed to lead in economic and business matters.

Osinbajo said if the private sector ran businesses, it would be far better because it would bring greater dividends.

He cited the example of the Nigeria Liquefied Natural Gas Company (NLNG).

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“NLNG is making lots of money because the private sector has a controlling share.

“And it is making money for the country.

“There is a need to push the model of using smart and tested people from the private sector to manage enterprises and businesses that government has an interest in.”

Speaking earlier, Ashiru said the vision of Odu’a Investment Company was to become a world-class conglomerate.

The Group Chairman said the company has a passion for business, focusing on agriculture and industrialisation.

According to him, the company is exploring international investments and partnerships.

He said Premier Hotel in Ibadan, a subsidiary of the conglomerate, would enter into a partnership with an international brand.

“In the new arrangement, we will upgrade the hotel to a five-star hotel and will increase its rooms from 87 to 120,” he said.

Ashiru hinted that Lagos State recently joined Odu’a Investment Company and received its certification as a shareholder.

The Odu’a Investment Company is owned by the state governments in the Southwest.

Other members of the delegation included Adewale Raji, the Group Managing Director and other directors such as Tola Kasali, Seni Adio, and Adebola Osibogun.