… shareholders declare N9.50 dividend, praise company’s stable returns amid sector challenges
Mr. Osagie Ogedegbe, Acting Managing Director, 11 Plc, formerly Mobil Oil Nigeria Plc, has unveiled plans to expand the company’s market share, grow revenue, and improve profitability through aggressive commercial strategies and sustained business diversification.
He also signalled management’s commitment to prioritising inclusion and diversity as part of its talent development and corporate growth strategy.
The commitments were made during Ogedegbe’s maiden public appearance as Acting Managing Director of 11 Plc at the company’s 48th Annual General Meeting held at Abuja Continental Hotel.
The seasoned executive, who has served in senior management roles at the company for several years, used the platform to reaffirm his commitment to elevating 11 Plc as a benchmark for the Nigerian downstream sector.
Addressing shareholders and stakeholders, Mr. Ogedegbe expressed gratitude for the confidence placed in his leadership and pledged to drive the company forward with professionalism, dedication, and a results-oriented mindset.
He assured that the quality of Mobil lubricants produced by 11 Plc in Nigeria would remain on par with global standards, a direct reflection of the rigorous ExxonMobil training that underpins the company’s operations.
Ogedegbe assured the company’s shareholders of his determination to make them proud, sayng “Better days are ahead,” and signaling a future where they can, at every level, share in the company’s growth and success.
The Acting MD stressed that stellar service delivery will be the hallmark of 11 Plc’s operations across all segments, saying, “Whether in fuel retailing, lubricant production, or corporate client solutions, the company is committed to delivering consistent, high-quality service that exceeds customer expectations.
“This renewed emphasis on excellence is expected to strengthen brand loyalty and deepen stakeholder confidence in the company’s capabilities,” he noted.
He said, “For investors, employees, and partners, the message is one of optimism, 11 Plc is building momentum toward a future defined by stronger earnings, broader opportunities, and an enduring legacy of leadership in Nigeria’s downstream industry.
Earlier shareholders who had approved the sum of N9.50 k as dividends for the operating year ended December 31 ,2025 applauded Board and Management for the consistent dividend payment over the years even in the face of headwinds in the sector.
The shareholders under the aegis of different associations -said the company’s regular dividend payout shows its commitment to delivering value to shareholders, and responsible business etiquettes.
Speaking at the meeting, Imam Mohammed Atanda and Moses Igbrude expressed confidence in the future performance of 11 Plc, citing the company’s growth strategies, innovation, resilience, and expansion plans as key drivers of sustained profitability.
The shareholders also pledged continued support for management’s vision and strategic objectives in Nigeria’s downstream petroleum sector, assuring the company of their partnership in expanding its shareholder base and strengthening investor confidence.
According to them, the company’s consistent growth trajectory and commitment to value creation make it deserving of broader investor participation.
In his remarks delivered through a Non-Executive Director, Ramesh Kansagra appreciated shareholders for their sustained confidence in the company, while Alhaji Abdulkadir Aminu formally proposed a dividend payout of N9.50 per share, which received unanimous approval from shareholders at the meeting.
