Odu'a Investment Company Limited also known as OICL is a strategic investment and asset management firm founded in 1976 to hold and manage the industrial and commercial assets of companies owned by the government of the Western State of Nigeria.
The manufacturing and industrial interests of the firm has shrunken but the firm has continued to make investments in the real estate sector[1] and also continues to maintain minority participation in many legacy assets such as WEMA Bank, Tower Aluminium and Nigerite.
In civilian administrations, appointment into the board is sometimes based on political patronage not on knowledge or skill, with appointees acting as representatives of their respective states of origin.
It depended on income generated by investments in associated companies where OICL held less than majority interest to provide the bulk of its net earnings.
[5] To reposition the company towards growth, the firm made increased investments in service sectors that have proven durable such as insurance brokerage and real estate.