U.O Nigeria Plc has commended Abia State Governor, Dr. Alex Otti, for what it described as the rapid transformation of the state, particularly in Aba, the state’s commercial hub.
The commendation was made by the Chairman of U.O.O Nigeria Plc, Nze Edozie Uche Okafor, during the company’s 36th Annual General Meeting held recently in Lagos.
“We are excited about the transformation taking place in Aba,” Okafor said. “Governor Alex Otti has improved infrastructure, enhanced security and is driving investments into the city. We are proud of what is happening there
The AGM also set the stage for a major milestone. U.O Nigeria Plc is preparing to mark its 70th anniversary later this year, and the company has chosen Aba as the venue for the celebration.
According to Okafor, the choice is symbolic. U.O.O was founded in Aba in 1956 by Chief Nzedioramma Uche Okafor, and returning to the city for the anniversary is meant to honor the company’s roots.
“The 70th anniversary is to celebrate the U.O legacy, growth and contribution to Nigeria’s economy,” he said. “Aba is where our journey began.”
Founded as an indigenous trading company, U.O has grown over seven decades into a conglomerate with interests in manufacturing, real estate development, property management, and agriculture.
Okafor reported that the company again declared profit and dividends at the AGM, a result shareholders welcomed given the current economic climate.
“The shareholders are happy, because the company has been paying dividends despite the harsh economic situation,” he noted.
He identified inflation and insecurity as the two biggest challenges facing the business. Both, he said, continue to complicate planning, increase operating costs, and slow expansion efforts.
The 36th AGM was convened as part of the company’s statutory obligations. Okafor said it also served to strengthen corporate governance and reposition U.O for sustainable growth.
Company Secretary and Legal Adviser, Mrs. Anuri Iyalla, reaffirmed U.O’s commitment to best practices.U.O.O Nigeria Plc remains committed to maintaining high standards of corporate governance in line with the Companies and Allied Matters Act 2020 and globally recognised governance best practices,” she said.
“We also promote transparency, accountability and ethical decision-making through sound governance processes, enabling the board to make informed decisions in the best interests of the company and all its stakeholders.”
During the meeting, shareholders expressed confidence in the company’s direction and re-elected three non-executive directors: Mazi Okechukwu Unegbu, Barrister S.Y. Odomokwu, and Mrs. Olayinka Mubarak.
With improved security and infrastructure in Abia, U.O’s leadership says it is optimistic about doing more business in the state. The planned 70th anniversary in Aba is expected to bring together stakeholders, partners, and community members to reflect on the company’s history and outline its next phase of growth
For a company that started as a local trader in Aba in 1956, returning to the city for its 70th year closes a circle — and, according to its chairman, opens a new one under a government it believes is delivering real change
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