NASD lists Jilnas Nigeria’s N3bn series 1 commercial paper

NASD Plc has listed Jilnas Nigeria Limited’s N3 billion Series 1 Commercial Paper (CP), the debut issuance under the company’s N10 billion CP Programme.

The CP offer opened on August 27 and closed on September 4, 2025, with maturity set for June 2, 2026.

Jilnas Nigeria Limited, founded in 1992, is a leading indigenous producer of edible vegetable oil. The Company has evolved from a 50 TPD operation into a modern processing powerhouse featuring a 200 TPD solvent extraction plant, three storage silos, a 200 TPD refinery, and a high-capacity roasting unit.

Jilnas is widely regarded as the largest supplier of processed edible oils across Nigeria’s Southeast and South-South regions, with an extensive footprint reaching Northern markets.

The Company continues to post strong financial performance, recording revenue growth from N12.79 billion in 2021 to N45.57 billion in 2024. Jilnas also maintains an exemplary debt-service track record, having redeemed over N4.8 billion in previous CP and private note issuances.

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Arranged by Pathway Advisors Limited, the 270-day Series 1 CP offers investors a competitive 25 percent yield per annum.

Funds raised will support Jilnas’ short-term working capital needs as the Company deepens its market leadership.

Speaking on the transaction, Adekunle Alade, Founder and CEO of Pathway Advisors Limited, described the issuance as “a landmark achievement” that underscores investor confidence in Jilnas’ strong fundamentals, governance standards, and long-term growth prospects. He thanked investors for their support and commended NASD Plc for enabling a seamless listing process.

Eguarekhide Longe, Managing Director NASD Plc welcomed the new listing as a significant boost for the capital market. He noted that more credible private companies are now leveraging NASD’s CP platform for transparent and structured access to capital and expressed optimism about the growing pipeline of upcoming listings.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.