Oando Shareholders Back Board at 47th AGM, Approve Digital Assets and Cross-Border Listing Plans

Oando PLC held its 47th Annual General Meeting on Thursday, 17 September 2026, with shareholders passing every resolution presented and reaffirming support for the company's growth plans.

The meeting reviewed the energy company's performance, strategic priorities and outlook. Shareholders commended the Board and Management for corporate governance, strategic direction and disciplined capital allocation.

What Shareholders Approved

Four directors retiring by rotation were re-elected: Mr Ademola Akinrele, SAN, Mr Omamofe Boyo, Mr Ikeme Osakwe and Mr Adeola Ogunsemi.

BDO Professional Services was re-appointed as the company's external auditors. Shareholders also elected members of the Statutory Audit Committee and approved the remuneration of Non-Executive Directors.

The AGM backed amendments to Oando's Memorandum and Articles of Association to allow for physical, electronic or hybrid general meetings. The same amendments cover provisions relating to digital assets, cryptographic technologies, distributed ledger technologies and other emerging technologies, subject to applicable laws and regulatory requirements.

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

Investor Backs Mining and Infrastructure Shift

Shareholder Mrs Bisi Bakare praised 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."

Tinubu on Operational Control

Group Chief Executive of Oando PLC, Mr Jubril Adewale Tinubu, CON, spoke on the company's outlook and stressed the importance of operational control and disciplined execution in delivering its 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."

Chairman of the Board, Mr Ademola Akinrele, SAN, closed the meeting by thanking shareholders for their attendance, questions and 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."

The mandate to explore cross-border listings is one to watch for Nigerian investors. A dual listing could widen Oando's shareholder base and bring more foreign currency flows into the Nigerian capital market, though any move still depends on regulatory approvals.