BIMBO ASHIRU: A RENAISSANCE MAN
You know in real life, I am an investment banker, so economic issues and company performances interest me. So, you will forgive me if I decide to blow this baba’s trumpet small. When he was appointed Chairman of the huge indigenous conglomerate – Odu’a, we had a small discussion. The issue was between his role as Chairman of this major institution or a commissionership in his state of origin which I believe was being dangled at him and which would put him in better stead to contribute meaningfully to the people. I suggested he takes the Chairman role because if for nothing else, his activities will crisscross economically the whole South-west, he will create jobs, and impact very positively on the people without the red tape and “boysim” that will come with a commissioner role.
Today, I take pleasure in announcing that Odu’a Group has just reported — wait for it o — revenues in excess of N3.9 billion and is paying a dividend of N428 million. The revenue figures represent a 7% growth YOY. The PBT also increased by 62% and the dividends were paid to its shareholders who are the South-west states according to my egbon Mr. Raji, the outgoing Managing Director. Now if you juxtapose this with the humongous losses our other firms in the FMCG and telcos space have been announcing then you will understand the context with which I am offering Otunba and Mr. Raji plates of Afang this morning – that is if they will not purge. Well done to the great team at Odu’a and I sincerely do wish that this performance is not only sustained but replicated nationwide. This na real oasis in an economic desert. Kai.