Shareholders of Oando Plc have reaffirmed their support for the company’s growth strategy after approving all resolutions presented at its 47th Annual General Meeting in Lagos.
The AGM, held on September 17, 2026, featured discussions on Oando’s performance, strategic priorities and outlook, with shareholders commending the Board and Management for its corporate governance, strategic direction and disciplined capital allocation.
Shareholders Approve Key Resolutions
Shareholders approved the re-election of Ademola Akinrele, SAN, Omamofe Boyo, Ikeme Osakwe and Adeola Ogunsemi as directors retiring by rotation.
They also approved the re-appointment of BDO Professional Services as the company’s external auditors and elected members of the Statutory Audit Committee.
The meeting further approved the remuneration of Non-Executive Directors.
Shareholders also backed amendments to Oando’s Memorandum and Articles of Association to allow physical, electronic and hybrid general meetings.
Oando Opens Door to Digital Assets
The amendments also introduced provisions covering digital assets, cryptographic technologies, distributed ledger technologies and other emerging technologies, subject to applicable laws and regulatory requirements.
The AGM also authorised the Board to pursue listings on other stock exchanges, including cross-border listings, subject to regulatory approvals.
Meanwhile, shareholder Bisi Bakare praised the Board and Management for its approach to portfolio development and capital allocation.
Bakare specifically commended the company’s shift in its mining and infrastructure business from broad-based exploration to a more focused asset-prioritisation strategy.
She described the approach as prudent, particularly amid the need to allocate capital carefully across the group.
Tinubu Highlights Operational Control
Speaking on Oando’s outlook, Group Chief Executive, Jubril Adewale Tinubu, CON, said operational control remained central to the company’s growth plans.
“Operational control gives us execution capacity and creates value,” Tinubu said, stressing the company’s focus on clear accountability and stronger performance management.
He added that Oando would continue to integrate its operations, allocate capital responsibly, report on time, meet its guidance and remain committed to its strategic choices.
Chairman Thanks Shareholders
Closing the meeting, Oando Chairman, Ademola Akinrele, SAN, thanked shareholders for their attendance, questions and continued confidence in the Board.
Akinrele also praised shareholders for their patience and engagement throughout the AGM, saying their questions demonstrated their interest in the company.
The meeting ended with shareholders expressing continued support for Oando’s growth ambitions and strategic direction.
