11Plc has outlined plans to expand market share, grow revenue, and improve profitability as its acting Managing Director, Osagie Ogedegbe, made his first public appearance at the company’s 48th Annual General Meeting held in Abuja.
A statement from the firm on Sunday stated that Ogedegbe, who has held senior management positions within the company for several years, told shareholders and stakeholders that management would focus on business expansion, operational efficiency, and service delivery across its operations.
Addressing shareholders at the meeting, he expressed appreciation for the confidence reposed in his leadership and pledged to drive the company with professionalism and a results-oriented approach.
He assured shareholders that Mobil lubricants produced by the company in Nigeria would continue to meet global standards, attributing this to the ExxonMobil training culture embedded in the company’s operations.
The acting MD also outlined plans to strengthen the company’s commercial operations and diversify its business portfolio to improve earnings performance.
According to him, management would also prioritise inclusion and diversity as part of its corporate and talent strategy.
“Better days are ahead,” Ogedegbe said while addressing shareholders at the AGM.
He added that service delivery would remain a major focus across the company’s fuel retailing, lubricant production, and corporate client businesses, noting that the strategy is expected to strengthen customer confidence and brand loyalty.
Ogedegbe stated that the company’s growth plans would be driven by innovation, efficiency, and customer-focused operations, with the aim of delivering improved returns to investors and other stakeholders.
Earlier at the meeting, shareholders approved a dividend payout of N9.50 per share for the financial year ended December 31, 2026. Shareholders under different associations commended the board and management for sustaining dividend payments despite challenges within the downstream oil sector.
Speaking on behalf of the Confluence Shareholders Association, Imam Atanda said the company’s consistent dividend payout reflected its commitment to shareholder value and responsible corporate practices.
Also speaking at the meeting, Moses Igbrude, representing the Independent Shareholders Association, expressed optimism about the company’s future performance, citing its growth strategies, innovation, and expansion plans.
The shareholders also pledged continued support for the company’s growth objectives and promised to help expand its shareholder base.
The Chairman of 11 Plc, Ramesh Kansagra, had earlier, through Non-Executive Director Abdulkadir Aminu, proposed the N9.50 per share dividend, which was unanimously approved by shareholders.
