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Chairman of U.O.O Nigeria Plc, Edozie Uche Okafor, has praised Abia State Governor, Dr. Alex Otti, for what he described as the rapid transformation of the state, particularly Aba, citing improvements in infrastructure, security and the investment climate.
Okafor made the remarks during the company’s 36th Annual General Meeting (AGM) held in Lagos, where he also announced plans to commemorate U.O.O Nigeria Plc’s 70th anniversary in Aba, the city where the company was founded.
“We are excited about the transformation taking place in Aba. Governor Alex Otti has improved infrastructure, enhanced security and is driving investments into the city. We are proud of what is happening there,” he said.
He noted that the decision to hold the company’s 70th anniversary celebration in Aba was symbolic, given the city’s significance as the birthplace of U.O.O Nigeria Plc.
According to him, the anniversary will celebrate the company’s legacy, growth and contributions to Nigeria’s economy over the past seven decades.
Commenting on the company’s performance, Okafor said U.O.O Nigeria Plc remained profitable despite prevailing economic challenges and had continued its tradition of rewarding shareholders.
“The shareholders are happy because the company has been paying dividends despite the harsh economic situation,” he said.
He, however, identified inflation and insecurity as the two major challenges affecting the company’s operations, noting that both factors continue to impact business planning and expansion.
Okafor explained that the 36th AGM was convened in fulfilment of the company’s statutory obligations and to strengthen its corporate governance framework while positioning the business for sustainable growth.
Also speaking at the meeting, the Company Secretary and Legal Adviser, Mrs. Anuri Iyalla, reaffirmed the company’s commitment to strong corporate governance and compliance with regulatory standards.
She said U.O.O Nigeria Plc operates in line with the provisions of the Companies and Allied Matters Act (CAMA) 2020 and internationally recognised governance principles.
“We also promote transparency, accountability and ethical decision-making through sound governance processes, enabling the board to make informed decisions in the best interests of the company and all its stakeholders,” Iyalla said.
Shareholders at the meeting expressed confidence in the company’s future growth and approved the re-election of Mazi Okechukwu Unegbu, Barrister S.Y. Odomokwu and Mrs. Olayinka Mubarak as non-executive directors.
Founded in 1956 by Chief Nzedioramma Uche Okafor, U.O.O Nigeria Plc has grown from an indigenous trading company into a diversified conglomerate with interests in manufacturing, real estate development, property management and agriculture.
