Oando Reaffirms Commitment To Shareholders’ Value

Oando Plc has reiterated its commitment to continue to create value for its shareholders.

The group chief executive of Oando, Adewale Tinubu stated this at the Company 43rd Annual General Meeting (AGM), held in Lagos.

Tinubu reaffirmed the management’s commitment to continually do what’s in the best interest of shareholders.

Also, shareholders at the meeting commended Oando’s management for appointing two women to the Board of Directors.

Patrick Ajudua an Oando shareholder said: “I want to commend the management for the appointment of Mrs. Ronke Shokefun and Mrs. Nana Mede as directors, and we hope that they will bring value to us.

Dr. Farouk Umar, an Oando shareholder said: “I thank you for bringing two women to the board. This is a happy development, I hope that when we have a casual vacancy, we should fill it with a woman.”

One recurrent topic among all shareholders who spoke at the meeting was the issue of insecurity in the country such as vandalism, banditry, and terrorism amongst others.

Shareholders implored the government to partner with various stakeholders both in the public and private sectors to resolve this issue which they described as crippling the economy.

Ajudua further said: “I am worried about the issue of oil theft. This implies that the company is losing so much money to oil theft. This also makes it difficult for the country to meet the OPEC quota and negatively impacts our GDP. I applaud the approach by NIMASA in using their aircraft to track vandalism. I believe that when various stakeholders join forces, we’ll have a resolution to this issue.

He further reaffirmed his support to Oando management saying, “I want to assure you of our support to Oando and once we can solve these lingering issues of oil theft, we will be able to enjoy the fruit of our labour.”