The 19-year-old is focused on scoring goals for United, but is also determined to help the team reach their targets.
He told iFollow Iron: "I'm really pleased to sign for Scunthorpe and I can't wait to start.
"I think it is a strong team here and good enough to go up this season. Hopefully I can help with that."
The forward also enjoyed his first training session with the players on Thursday morning, adding: "It was a good session today, but it was good to find out about the philosophy of the team and what I need to work on.
"The manager (Stuart McCall) has also spoken very highly of me."
Last season, Ugbo went out on loan to both Barnsley and MK Dons in League One and hopes that his experience from first team football can benefit his game while at the Iron.
"I think I have learnt a lot from my loan spells at Barnsley and MK Dons last year and I can use that to help me here," said Ugbo.
The attacker also talked about what the supporters can expect from him.
He said: "They can expect excitement and lots of goals from me.
"I want to get playing time because I want to kick on to the next stage of my career.
"I want to get promotion get this season."