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Osun govt. declares 760% growth on its investment base through diversification

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Osun state government has declared a whopping 760% growth on its investment base through diversification into Oil and Gas, Modern Poultry, Agro-allied, and a host of other ventures.
The Managing Director of Omoluabi Holdings Limited(OHL), formerly called Osun State Investment Company(OSICOL), Dr. Tunde Fakeye made this known to newsmen on Wednesday during a media briefing.
He said the agency commenced it’s operation in 2011 with a capital base of N300m, and built it up to N3.6 billion as at 2017, which represents a total of 760% increase within the spate of 6 years.
Fakeye adduced the speedy growth to array of innovations and business idea the present administration in the state introduced, which has helped the agency in no small way.
He, however, called on other states to go into business ventures and build a reliable Internally Generated Revenue(IGR) that would sustain the states in the face of dwindling monthly allocations from the federation account.
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According to him, “to avoid confusion, the same agency the previous government christened Osun State Investment Company (OSICOL) is the same agency that has been renamed by Aregbesola’s administration as Omoluabi Holdings Limited.
“With the new mandate since the present administration came on board in 2010, Omoluabi Holdings Limited has grown from being a state-managed business concern to a conglomerate handling multiple businesses.
“We are able to achieve this relative success with our routing of strategic Investments through application of private sector efficiency and profit focus at handling projects.


“Omoluabi Holdings has subsidiaries in Oil and gas, modern poultry and establishment of Agro-Allied Company. We also have interest in quarry business and Cocoa plantation farms, to mention but few.”

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