Oando Shareholders Reaffirm Support for Company at 47th AGM

Shareholders of Oando PLC have reaffirmed their support for the company’s strategic direction and growth ambitions at its 47th Annual General Meeting (AGM), with all resolutions presented at the meeting passed.

The AGM, held on Thursday, 17 September 2026, provided an opportunity for shareholders to review Oando’s performance, strategic priorities and outlook, while engaging with the Board and Management on the company’s operations and future plans. 

Shareholders commended the Board and Management for their approach to corporate governance, strategic direction and disciplined capital allocation, while expressing continued support for the company’s growth ambitions.

Among the resolutions approved were the re-election of Mr Ademola Akinrele, SAN, Mr Omamofe Boyo, Mr Ikeme Osakwe and Mr Adeola Ogunsemi as Directors retiring by rotation.

Shareholders also approved the re-appointment of BDO Professional Services as the company’s external auditors, the election of members of the Statutory Audit Committee and the remuneration of Non-Executive Directors.

The meeting further approved amendments to the company’s Memorandum and Articles of Association to provide for physical, electronic or hybrid general meetings. The amendments also introduce provisions relating to digital assets, cryptographic technologies, distributed ledger technologies and other emerging technologies, subject to applicable laws and regulatory requirements.

Shareholders also authorised the Board to pursue listings on other stock exchanges, including cross-border listings, subject to the necessary regulatory approvals.

A shareholder, Mrs Bisi Bakare, commended the Board and Management for its strategic approach to portfolio development and disciplined capital allocation. She said: “I just want to use this opportunity to congratulate the Board and management for the strategic shift in the mining and infrastructure business from broad-based exploration to a more disciplined asset prioritisation approach. I believe this is a prudent approach, particularly given the need for disciplined capital allocation across the group.”

Speaking on Oando’s outlook, Group Chief Executive, Oando PLC, Mr Jubril Adewale Tinubu, CON, highlighted the importance of operational control and disciplined execution in delivering the company’s growth strategy.

He said: “Operational control gives us execution capacity and creates value. We are focusing on clear accountability and stronger performance management. As we continue our integration, we will allocate capital responsibly, report on time, meet our guidance and commit to our choices.”

Closing the meeting, Chairman of the Board, Mr Ademola Akinrele, SAN, thanked shareholders for their attendance, questions and continued confidence in the Board.

He said: “I thank you all for your attendance today, and I'd like to thank you in particular, shareholders, for the range of your questions, the thoughtfulness of it, the insight of the questions, and the passion and love you've shown for the company, and also the patience and confidence you have reposed on the board.”