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By Adewale Sanyaolu
The Acting Managing Director of 11 Plc, Mr. Osagie Ogedegbe, has outlined a growth blueprint for the company.
Ogedegbe stated this in his maiden address at the 48th Annual General Meeting of 11 Plc held in Abuja.
He added that as part of broader growth plans, the company will focus on deeper diversification to reposition the downstream energy player for sustained competitiveness and long-term value creation.
The 11 Plc boss equally pledged aggressive market expansion, stronger profitability and improved service delivery.
He assured shareholders that the company would continue to build on its legacy of operational excellence and shareholder value despite challenges in Nigeria’s downstream petroleum sector.
The acting Managing Director, who has spent several years in different senior management roles within the company, promised to lead with professionalism, dedication and a result-oriented approach aimed at positioning 11 Plc as a leading player in the downstream industry.
He assured stakeholders that Mobil lubricants produced by the company in Nigeria would continue to meet global standards.
Ogedegbe attributed the high quality of 11 lubricants to the strong operational and technical foundation inherited from ExxonMobil’s training culture.
According to him, management is pursuing aggressive commercial strategies, business diversification and customer-focused initiatives to boost revenue, profitability and overall market performance.
Ogedegbe also stressed that service excellence would remain central to the company’s operations across its fuel retail, lubricant and corporate service segments.
He noted that consistent quality delivery would further strengthen customer confidence and brand loyalty.
He added that the company would place increased emphasis on inclusion and diversity as part of its broader corporate and talent development strategy.
He told shareholders that better days are ahead while expressing appreciation to the management team for the confidence reposed in him.
Shareholders at the meeting approved a dividend payout of N9.50 per share for the financial year ended December 31, 2026, with a commendation to the board and management for sustaining regular dividend payments despite headwinds in the sector.
Speaking on behalf of the shareholders groups, Imam Mohammed Atanda of the Confluence Shareholders Association and Moses Igbrude of the Independent Shareholders Association praised the company’s resilience, innovation and expansion strategy.
The shareholders also pledged continued support for the company’s growth agenda and promised to help expand its shareholder base.
Earlier in his address, Chairman of the company, Ramesh Kansagra, represented by Non-Executive Director, Abdulkadir Aminu, formally proposed the N9.50 dividend, which was unanimously approved by shareholders.
