Vice President Yemi Osinbajo says that investment in technology is the way to the future, as it has many prospects.

Osinbajo’s spokesman, Laolu Akande, in a statement Tuesday in Abuja, said the vice president received a delegation from Odu’a Investment Company at the Presidential Villa, Abuja.

The delegation was headed by the president of the conglomerate group, Bimbo Ashiru.

The vice president praised the conglomerate’s legacy and the vision that gave birth to it decades ago.

“Legacy and history have a powerful force, but what the future demands may be even greater and that is why we must invest in technology.

“Look at the technology and see how to change and improve the (business) model,” Osinbajo said.

He applauded the model where experts and players in economic and business matters were allowed to lead.

He said that if the private sector ran businesses, it would be much better because it would bring higher dividends.

The Vice President cited the example of the Nigerian Liquefied Natural Gas Company.

“NLNG is making a lot of money because the private sector has a majority stake and is making money for the country.

“It is necessary to promote the model of using smart and proven people from the private sector to run companies and businesses in which the government has an interest,” he said.

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

According to him, the company is exploring international investments and partnerships.

He said the Premier Hotel located in Ibadan, Oyo State, one of the conglomerate’s best-known businesses, would be associated with an international brand.

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

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

The Odu’a Investment Company is owned by the southwestern state governments.

Other members of the delegation included Adewale Raji, the Group Managing Director and other directors such as Tola Kasali, Seni Adio and Adebola Osibogun.

Mr. Babajide Arowosafe, Managing Director of SWAgCo Ltd. and Victor Ayetoro, Head of Brand and Communications at Odu’a, were also in the delegation.