Oando Holds 47th AGM: Shareholders Show Trust in Management

Oando PLC, a top energy company in Africa, held its 47th Annual General Meeting (AGM) on Thursday, 17 September 2026. Shareholders came together to discuss the company's performance, plans, and future. All the proposals put forward were approved.

The AGM saw active participation from shareholders. They praised the Board and Management for how they handle governance, set strategic directions, and manage funds. Shareholders also showed their ongoing support for the company's growth goals.

Among the approved resolutions were the re-election of Mr Ademola Akinrele, SAN, Mr Omamofe Boyo, Mr Ikeme Osakwe, and Mr Adeola Ogunsemi as Directors who were retiring by rotation. Shareholders also re-appointed BDO Professional Services as the company’s external auditors. Other decisions included electing members of the Statutory Audit Committee and approving the pay for Non-Executive Directors.

Shareholders also agreed to change the Company’s Memorandum and Articles of Association. This allows for physical, electronic, or hybrid general meetings. It also covers digital assets, cryptographic technologies, distributed ledger technologies, and other new technologies, as long as they follow the law. The meeting also gave the Board the green light to seek listings on more stock exchanges, including cross-border listings, pending necessary regulatory approvals.

One shareholder, Mrs Bisi Bakare, praised the Board and Management for their smart approach to developing the company’s portfolio and managing funds wisely. 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.”

Mr Jubril Adewale Tinubu, the Group Chief Executive of Oando PLC, spoke about the company’s future. He emphasized the need for good operational control and careful execution to drive growth. He stated, “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.”

As the meeting wrapped up, Mr Ademola Akinrele, the Chairman of the Board, expressed gratitude to shareholders for their presence, insightful questions, and trust 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.”