Shareholders of 11 Plc have approved a dividend of N9.50 per share for the financial year ended December 31, 2026. The approval came during the company’s 48th Annual General Meeting (AGM) held at the Abuja Continental Hotel. The event marked the maiden public appearance of Acting Managing Director Osagie Ogedegbe, who addressed shareholders in his new role, outlining a growth-focused agenda for the downstream operator.
Ogedegbe's Address to Shareholders
In his address, Ogedegbe expressed gratitude for the confidence placed in the management team. He pledged to steer the company with professionalism, discipline, and a results-oriented strategy aimed at strengthening long-term value creation. He assured shareholders that the quality of Mobil lubricants produced by 11 Plc would remain consistent with global standards, emphasizing that operational excellence is anchored on technical heritage and rigorous training within the ExxonMobil system.
Future Growth Plans
Looking ahead, Ogedegbe stated that the company would pursue aggressive commercial expansion, market penetration, and business diversification to boost revenue and enhance profitability in a competitive downstream environment. He highlighted that inclusion and diversity would be prioritized in the workforce and corporate strategy, describing them as central to sustaining innovation and long-term organizational resilience.
“Better days are ahead,” Ogedegbe told shareholders, adding that the company is positioning itself for stronger earnings and broader growth opportunities across its business segments. He further emphasized that excellent service delivery would remain a core pillar of operations across fuel retailing, lubricant production, and corporate solutions, stressing that customer satisfaction would define the company’s competitive edge.
Company Background
11 Plc, formerly known as Mobil Oil Nigeria Plc, continues to build on its legacy as a key player in Nigeria's downstream petroleum sector. The AGM in Abuja underscored the company's commitment to shareholder value and operational excellence under new leadership.
