Oando Shareholders Authorise Board to Pursue Cross-border Listings, Others

By Aduragbemi Omiyale

The board and management of Oando Plc have received the full support of shareholders to press further with the company’s growth ambitions.

This backing was received at the organisation’s 47th Annual General Meeting (AGM) held on Thursday, September 17, 2026.

At the gathering, the company’s investors passed all the resolutions presented by the board, including 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 authorised the re-appointment of BDO Professional Services as the energy firm’s external auditors, the election of members of the Statutory Audit Committee; and approval of the remuneration of Non-Executive Directors.

In the same vein, they approved amendments to the institution’s Memorandum and Articles of Association to provide for physical, electronic or hybrid general meetings, as well as provisions relating to digital assets, cryptographic technologies, distributed ledger technologies, and other emerging technologies, subject to applicable laws and regulatory requirements.

The shareholders also gave the board permission to pursue listings on other stock exchanges, including cross-border listings, subject to requisite regulatory approvals.

One of the shareholders at the meeting, Mrs Bisi Bakare, praised the board for its strategic approach to portfolio development and disciplined capital allocation.

“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,” she said.

On his part, the chief executive of Oando, Mr Wale Tinubu, highlighted the importance of operational control and disciplined execution in delivering the organisation’s growth strategy.

“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,” he stated.

As for the board chairman, Mr Akinrele, he thanked shareholders for their attendance, thoughtful questions and continued confidence in the board.

“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 in the board,” he said.