ABUJA — A new sense of direction is taking shape at 11 Plc, following the unveiling of an ambitious growth plan by its Acting Managing Director, Mr. Osagie Ogedegbe, who used the company’s 48th Annual General Meeting in Abuja to assure shareholders of stronger performance, wider market reach and improved returns in the coming years.
Speaking during his first AGM appearance since assuming office on April 1, 2026, Ogedegbe said that the company was entering a more determined phase of growth, with plans to become more competitive, more efficient and more responsive to market realities.
He told shareholders that the focus going forward would be on boosting sales, improving revenue and ultimately delivering better dividends.
“We intend to be more active in the marketplace, drive volumes, grow revenue and deliver stronger returns to our shareholders,” he said, expressing confidence in the company’s direction.
The new Acting Managing Director also reassured stakeholders that the company would not compromise on quality, particularly the Mobil lubricants produced in Nigeria, which he said would continue to meet global standards without exception.
According to him, the company’s long-standing operational discipline and quality systems are rooted in the professional training culture inherited from ExxonMobil, which will continue to guide decision-making and performance.
Ogedegbe said that the next phase of growth would be anchored on efficiency, innovation and expansion into new opportunities, while also strengthening inclusion and equal opportunity within the organisation to attract and retain top talent.
He added that service delivery across all segments, including fuel retail, lubricants and industrial supply would remain a key priority, with renewed attention on customer experience, reliability and consistency.
Beyond internal improvements, he noted that the company is positioning itself to respond better to changes in the downstream sector and build a more resilient business capable of sustained growth.
“11 Plc is aligning itself for stronger performance and long-term value creation. The goal is a more resilient organisation that continues to reward shareholders while strengthening its leadership position in the industry,” he said.
Shareholders at the meeting responded positively to the outlook, unanimously approving a dividend of N9.50 per share for the financial year ended December 31, 2025.
Many of them commended the company for maintaining steady dividend payments despite challenges in the oil and gas sector, describing it as a sign of discipline and reliability.
Speaking on behalf of the Confluence Shareholders Association, Imam Mohammed Atanda praised the company’s consistency, while Moses Igbrude of the Independent Shareholders Association expressed optimism about its growth trajectory.
The shareholders also pledged continued support for management and expressed willingness to help expand the company’s investor base, citing confidence in its long-term vision.
Earlier, the dividend proposal was presented on behalf of the Chairman, Ramesh Kansagra, by Non-Executive Director, Alhaji Abdulkadir Aminu and received unanimous approval from shareholders present.
