Dividend payment: Fayose lauds Odua Investment

Ekiti State Governor, Mr Ayodele Fayose, has commended Odua Investment Company Limited for the payment of N150 million dividend to the five states which own the company.
Ekiti State Government got N30 million from the money.
In a statement on Tuesday in Ado-Ekiti by the governor’s Chief Press Secretary, Mr Idowu Adelusi, the governor said the payment of the dividend after about six years that the conglomerate failed to give anything to the owner-states was commendable.
“I am happy that the management of the conglomerate has been able to improve on the fortunes of the company. The N30 million given to each of the owner-states is an encouragement to the states to further support the company.
“The management was able to raise the revenue base of the company for the year 2014 and recorded some profits despite the tough economic terrain we are in. I want to implore the management not to rest on their oars. They must continue to raise the standard.
“The dreams of the founders of the group of companies must not die. The expectations of the owner-states that apart from providing employment for our people, the company must also be able to make profit should also not be dashed.
“I commend the Chairman, Chief Isaac Akintade and the Group Managing Director, Mr Adewale Raji and the entire workforce for their diligence and we are expecting even a better result next year,” he said.
Fayose urged the management of the conglomerate to re-position some subsidiaries that are in bad shape, so that they would not constitute a cog in the wheel of progress of the company.