Daniel Agbor, Chairman of UAC Nigeria Plc, has expanded his stake in the company by purchasing nearly 11 million shares, a move that cost him approximately N98 million ($270,000).
Agbor, a seasoned corporate lawyer and financial strategist, made these acquisitions in two separate transactions on the Nigerian Stock Exchange (NSE) in early March 2020, reinforcing his position in one of Nigeria’s leading conglomerates.
Breakdown of the Stock Acquisition
•March 5, 2020 – Agbor purchased 7,234,148 shares at ₦9 per share, totaling ₦65.1 million ($181,417).
•March 6, 2020 – He bought another 3,727,000 shares at ₦8.73 per share, amounting to ₦32.5 million ($90,278).
The total acquisition cost of ₦97.6 million ($270,000) further solidifies his confidence in UACN’s long-term growth potential.
Daniel Agbor: A Power Player in Corporate Nigeria
Beyond UACN, Agbor holds key leadership roles in several top financial institutions, including:
•Chairman, FSDH Securities Limited
•Director, FSDH Merchant Bank Limited
•Director, Pensions Alliance Limited (PAL Pensions)
•Director, Swift Network Services Limited
A former Company Secretary and Legal Adviser of Gulf Bank of Nigeria Limited, Agbor also worked in the corporate finance and legal departments of Citibank (formerly Nigeria International Bank Ltd.) and was a solicitor at Ajumogobia, Okeke & Oyebode, a top commercial law firm in Lagos.
UACN’s Strategic Unbundling of UACN Property
Months before Agbor’s stock acquisition, UAC Nigeria Plc made a bold decision to unbundle its real estate subsidiary, UACN Property Development Company (UPDC).
UPDC, known for its high-end commercial and residential property developments, had been recording consistent financial losses, prompting UACN to separate itself from the struggling subsidiary.
The move was widely interpreted as a strategic restructuring aimed at streamlining UACN’s operations, allowing the core business units—including Gala, Mr Bigg’s, and other household brands—to compete more effectively in Nigeria’s fast-changing consumer market.
What This Means for UACN’s Future
Agbor’s multi-million naira stock investment signals strong insider confidence in UACN’s strategic direction and future profitability.
With a history spanning over a century, UACN remains a dominant force in Nigeria’s consumer goods, logistics, and real estate sectors, despite facing stiff competition from new entrants and international brands.
This acquisition, combined with the ongoing corporate restructuring, positions UACN for renewed financial strength and market dominance, ensuring it remains a powerhouse in Nigeria’s business landscape.
