11Plc Acting MD pledges aggressive market penetration, increased shareholder value

A new chapter opened for 11Plc, formerly Mobil Oil Nigeria Plc, as the Acting Managing Director Mr. Osagie Ogedegbe made his maiden public appearance during the company’s 48th Annual General Meeting held at Abuja Continental Hotel, FCT Abuja.

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.

Looking ahead, he outlined an ambitious plan to expand market share, boost revenue, and enhance profitability through aggressive commercial strategies and continuous business diversification. Importantly, he signaled that the management would prioritize inclusion and diversity as part of its talent and corporate strategy, aiming to make 11 Plc an employer and partner of choice.

Closing his address, Mr. Ogedegbe thanked shareholders for their trust and promised to make them proud. “Better days are ahead,” he affirmed, signaling a future where stakeholders at every level can share in the company’s growth and success.

Reinforcing this optimism, the Acting MD stressed that stellar service delivery will be the hallmark of 11 Plc’s operations across all segments. 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, he noted , is expected to strengthen brand loyalty and deepen stakeholder confidence in the company’s capabilities.

With a clear roadmap for expansion and value creation, 11 Plc is set to enter a phase of accelerated growth. Management’s focus on innovation, efficiency, and customer-centricity will serve as the engine for sustained performance.

Said he : 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 ,2026 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.

Imam Mohammed Atanda spoke in behalf of Confluence Shareholders Association while Moses Igbrude commented under the aegis of Independent Shareholders Association at the yearly meeting .

They expressed optimism that the company would continue to record good performances on account of its strategies, innovation, resilience and expansion plans.

The shareholders assured that they would partner with the company in its drive to realize its set goals and objectives in the country’s downstream sector.

They also promised to help the company grow its shareholders’ base, saying such gesture is deserving on account of the company’s vision and appetite for growth.

The Chairman, 11 Plc ,Ramesh Kansagra had earlier in his address to the shareholders through the Non – Executive Director ,Alhaji Abdulkadir Aminu proposed a dividend of N9:50 kobo per share which was unanimously consented to by the shareholders.