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Osinbajo Urges Legacy Companies to Invest in Technology

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Vice President Yemi Osinbajo said despite the existing business models in most industries today, maintaining relevance will require investment in technology.

 

“Legacy and history have a powerful pull, but it might be that what the future calls for is even greater and this is why we must be investing in technology,” Osinbajo said when he received a delegation of the Odu’a Investment Company at the Presidential Villa, Abuja.

Laolu Akande, the Senior Special Assistant to the President on Media and Publicity, disclosed this in a statement on Tuesday titled ‘Investing in technology is the way of the future, says Osinbajo.’

Starting operations in October 1976, Odu’a Investment Company Limited has interests in integrated textile mills, breweries, commercial banking, insurance, real estate, livestock rearing, fisheries, hospitality, oil and gases, amongst others.

While commending the legacy of the conglomerate and the vision that birthed it, Osinbajo said, “legacy and history have a powerful pull, but it might be that what the future calls for is even greater and this is why we must be investing in technology.”

“look at technology and see how to change and improve the (business) model,” Osinbajo told the company’s chairman, Bimbo Ashiru.

Making a case for proper privatisation and its dividends to the government, Osinbajo said “if the private sector runs businesses, it is far better because it will bring greater dividends.

“The NLNG is making a lot of money because the private sector has a controlling share and 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.”

Ashiru, who briefed State House correspondents after the meeting, said despite being major shareholders in its enterprise, governors of southwestern states are not meddling with the company’s affairs.

This, he said, had ensured the company’s expansion into a world-class outfit in its 47-year existence.

He said the company is being run as a conglomerate that is paying due dividends to shareholders; attracting foreign investors in the areas of hospitality, agriculture, real estate, IT, among others.

He said, “We have six states that are shareholders, they are not running Odu’a. They appoint members of the Board, but Odu’a is being run like a conglomerate, it is a large conglomerate and what we have done is to make Oodua a world class conglomerate, we want to compete with everywhere in the world.

“So, that’s really why we are even here; to let the Vice President know that it’s not a regional thing. It’s a national thing. So, the point is that we are now running as an international entity.

“I commend the Southwest governors. They have no interference, no micro-managing. They gave us free hand to run it. But normally, we still need to refer to them and I’m happy to tell you that we are paying dividends to the shareholders.

Ashiru further explained that the company was exploring international investments and partnerships.

For instance, he disclosed that the Premier Hotel located in Ibadan, Oyo State, one of the well-known businesses of the conglomerate is now going to be in partnership with an international brand.

In the new arrangement, he said the hotel would  be upgraded to a five-star hotel and will increase its rooms from 87 to 120.

He also informed the VP that Lagos State has recently joined Odu’a Investment Company and has been presented its certification as a shareholder.

Members of the delegation included the Group Managing Director; Mr. Adewale Raji, other directors such as Dr. Tola Kasali, Mr Seni Adio, SAN and Adebola Osibogun.

Others were the Managing Director, SWAgCo Limited, Mr. Babajide Arowosafe and Mr. Victor Ayetoro, Head, Branding and Communications at Odu’a.


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CAC Lists 15 Unregistered Firms Operating in Nigeria

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Corporate Affairs Commission (CAC) has warned Nigerians against dealing with 15 unregistered entities using company names and registration numbers that are not in the commission’s records.

CAC Lists 15 Unregistered Firms Operating in Nigeria

In a public notice signed by CAC Management, the commission said it had discovered the use of purported company names and RC numbers that are not registered with the CAC, urging the public to disregard them and verify all business information directly from its portal.

“The CAC remains committed to protecting the integrity of the Companies Register, upholding the law, and ensuring a safe and transparent business environment in Nigeria,” the CAC said.

According to the notice, the following are the entities not registered with the CAC:

Famas Services Nigeria Limited (RC: 216312)

Promo Dutch Investment Limited (RC: 396654)

Dialack Concept Nig. Ltd (RC: 297772)

Purpleheart Construction and Real Estate Mgt. Co. Ltd (RC: 1210548)

M/S Loktu Enterprises (BN: 373466)

Loktu Enterprises (BN: 400390)

Badatoyak Ltd (RC: 521322)

Johson Nats Limited (RC: 198492)

Peoples Club Nigeria International (CAC/IT/41191)

Jiba Enterprise (BN: 577523)

Civil Engineering Solutions Nigeria Limited (RC: 33001)

Gabdoff Hotel Ltd (RC: 112409)

Amoka Group (BN: 545221)

BEEC Nigeria Limited (RC: 30143)

  1. Adetunji (BN: 657466)

Explaining the reason for the commission’s publication, the statement noted that it aligns with its statutory role of maintaining an accurate and reliable companies register, protecting investors, and preventing fraudulent activities in the business environment.

The commission urged Nigerians to always confirm the status of any company or business name through its official portal.


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IHS Nigeria Leads Gender Based Violence Awareness Walk, Reaffirms Zero Tolerance with Advocacy Seminar

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Demonstrating unwavering commitment to a safe and dignified workplace, IHS Nigeria held an awareness walk followed by a high-impact seminar as part of activities to commemorate the global 16 days of activism to End Gender-Based Violence against women and girls.

The initiative underscored the organisation’s ongoing efforts to sensitize the community, educate employees, strengthen internal safeguards, and reinforce its zero-tolerance policy for all forms of harassment and abuse.

After the walk along Adeola Odeku and Idejo Streets on Victoria Island, employees convened for a seminar at the IHS Nigeria corporate head office, where Bukola Konkwo, Associate Director, Operations Excellence IHS Nigeria and one of the leaders of the Women in IHS Network (WIIN), reiterated the organisation’s position on gender-based violence in her opening remarks:

“Violence does not discriminate, and neither should our compassion. At IHS Nigeria, boldness is not just a value on paper, it is a call to action. We are intentional about ensuring every employee feels safe, respected, and empowered.”

The seminar featured two leading voices in Gender Based Violence advocacy. Titiola Vivour Adeniyi, the Executive Secretary of the Lagos State Domestic and Sexual Violence Agency and Nwanne Okafor, Victimologist and Gender Based Violence Advocate. Speaking during the seminar, Titilope stressed the urgency of prevention and education:

“Gender-based violence is not a special-class problem. Anybody can be a victim. Our responsibility is to know the signs, protect one another, and intervene early. When we know better, we do better.”

She also encouraged organisations to prioritise consent education, confidential reporting, and background checks, practices IHS Nigeria has already integrated through its Safe Zone Committee, a confidential support system for staff.

Nwanne Okafor, also spoke on the role of colleagues in recognizing and responding to abuse in the workplace:

“Many victims don’t need you to fix their situation, they need your support, your sensitivity, and your discretion. Speak up when necessary. Silence gives violence permission.”

Her session included real-life cases that underscored how abuse affects workplace productivity, mental health, and safety.

The awareness walk, saw both male and female staff members from across various departments marching in solidarity with survivors and advocates worldwide  and served as a public declaration of IHS Nigeria’s commitment to building a culture rooted in respect, safety, and accountability.

Reinforcing IHS Nigeria’s stand, during her  closing remarks, Titilope Oguntuga, Director, Sustainability, IHS Nigeria, captured the spirit of the event:

“This conversation doesn’t end today. Now that we know better, we must all do better, by advocating, supporting, and actively contributing to a workplace free of violence in any form.”

IHS Nigeria continues to strengthen its internal systems, policy frameworks, training programs, safe reporting channels, and continuous awareness sessions, to ensure that every employee is protected and empowered. The organisation reaffirms its zero-tolerance policy for any form of harassment, abuse, or violence, and remains committed to leading the corporate sector in progressive, people-centered safety standards.


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Nigeria’s GDP Rises to 3.98% in Q3 2025, Driven by Agriculture, ICT, and Finance

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Nigeria’s economy expanded by $3.98$ per cent in the third quarter of 2025, according to the latest Gross Domestic Product (GDP) report released by the National Bureau of Statistics (NBS) on Monday.

Nigeria’s GDP Rises to 3.98% in Q3 2025, Driven by Agriculture, ICT, and Finance

GDP

This growth rate marks a slight improvement from the $3.86$ per cent recorded in the same period of 2024.The report highlights a mixed but generally positive recovery across key sectors. Aggregate GDP in real terms stood at ₦57.03 trillion, up from ₦54.85 trillion in Q3 2024.

The Services sector remained the largest contributor to overall output at $53.02$ per cent, followed by Agriculture at $31.21$ per cent. Key growth drivers included crop production, telecommunications, real estate, trade, and financial services.

The non-oil sector continued to be the main engine of the economy, expanding by $3.91$ per cent. This strong performance outpaced both Q3 2024 ($3.79$ per cent) and Q2 2025 ($3.64$ per cent). Agriculture grew by $3.79$ per cent, driven predominantly by crop production.

The Information and Communication Technology (ICT) sector posted a particularly strong real growth of $5.78$ per cent, with its contribution to real GDP rising to $9.10$ per cent. Furthermore, Financial and Insurance Services recorded a significant real growth of $19.63$ per cent.

In contrast, real growth in the Manufacturing sector slowed to $1.25$ per cent, down from $1.74$ per cent in the previous quarter.

The oil sector posted a real growth of $5.84$ per cent, a marginal increase from $5.66$ per cent in Q3 2024. This growth was linked to an average crude oil production rise to $1.64$ million barrels per day (mbpd), up from $1.47$ mbpd a year earlier.

Despite this positive change in output, the sector’s contribution to real GDP remains modest at **$3.44$ per cent$.Statistician-General of the Federation, Prince Adeyemi Adeniran, noted that while most sectors sustained positive momentum, growth remains uneven.

Strong gains in ICT, finance, agriculture, and trade were crucial in stabilizing overall output. This data aligns with projections from the International Monetary Fund (IMF), which, in October 2025, revised Nigeria’s 2025 growth outlook upward to $3.9$ per cent, citing higher oil production, stronger investor confidence, and a supportive fiscal stance as key drivers.


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