11 Plc Plans Expansion Under New MD Osagi Ogedegb

11 Plc, during its 48th Annual General Meeting held in Abuja, outlined plans for expansion and improved profitability under the leadership of Osagi Ogedegb, who made his first public appearance as Managing Director. Ogedegb, with several years in senior management roles within the company, emphasized a focus on business expansion, operational efficiency, and service delivery.

He assured shareholders of a commitment to professional and results-oriented management, aiming to meet global standards in lubricant production. The company’s growth strategy includes diversifying its business portfolio and improving earnings performance.

Shareholders approved a dividend payout of N9.50 per share for the financial year ending December 31, 2026. The meeting also highlighted the company's consistent dividend payments despite challenges in the downstream oil sector, reflecting its commitment to shareholder value.

Chairman Ramesh Kansagra and non-executive director Abdulkadir Aminu supported the dividend proposal, which received unanimous approval.