Osinbanjo: Investing in technology ensured that the country’s features would improve.

Yemi Osinbajo, vice president, has urged Nigerian businesspeople to increase their investments in technology since it holds the key to the future.

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NewsReport gathered that this accusation was made by Osinbajo yesterday at the State House in Abuja when he was hosting a group from Odu’a Investment Company.

According to a statement issued by his media assistant, Laolu Akande, Osinbajo praised the legacy of the conglomerate and the vision that gave rise to it decades ago, saying that “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.”

The vice president also told the delegation led by the group chairman of the conglomerate, Otunba Bimbo Ashiru, that they should “look at technology and see how to change and improve the business model.”

He had earlier commended the model where experts and players are allowed to lead in economic and business matters, saying “if the private sector runs businesses, it is far better because it will bring greater dividends.”

Osinbajo cited the example of the Nigeria Liquefied Natural Gas Company (NLNG), saying “the NLNG is making a lot of money because the private sector has a controlling share and is making money for the country.”

The Vice President advised that “there is a need to push the model of using smart and tested people from the private sector to manage enterprises and businesses that the government has an interest in.”

Earlier in his remarks, Ashiru said the vision of Odu’a Investment Company was to become a world-class conglomerate known for its passion for business with a focus on agriculture and industrialization.

He explained further 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, was going to be in partnership with an international brand. In the new arrangement, the hotel would be upgraded to a five-star hotel and its rooms would increase from 87 to 120.

Ashiru informed Osinbajo that Lagos State had recently joined Odu’a Investment Company and had been presented with its shareholder certification.

Odu’a Investment Company is owned by the six state governments in the south-west zone of Nigeria.