Firm Secures N300bn Commercial Paper Programme To Expand Downstream Operations

Pivot Integrated Energy Services Limited has secured a N300 billion Commercial Paper (CP) Programme to support the expansion of its downstream operations and strengthen its working capital base.

The company concluded the programme with Pathway Advisors Limited acting as the lead issuing house, marking a major milestone in mobilising short-term capital for growth in Nigeria’s downstream petroleum sector.

The transaction was formally concluded with the execution of programme documentation following the completion of all regulatory and programme clearances. The signing ceremony underscored the increasing role of the capital market in financing the country’s evolving energy sector.

Speaking at the event, founder and chief executive officer of Pathway Advisors Limited, Mr. Adekunle Alade, highlighted the strategic importance of the CP programme in enabling high-growth energy firms to scale efficiently and sustainably.

According to him, Nigeria’s downstream energy sector is witnessing significant changes driven by the removal of fuel subsidies, the emergence of domestic refining capacity and rising demand for reliable petroleum product supply across Nigeria and the wider West African market.

“Companies like Pivot Integrated Energy Services Limited with a vertically integrated model, a strong track record, and a clear growth mandate are exactly the kind of issuers that the capital markets should be financing,” Alade said.

He noted that “commercial paper, when structured appropriately, gives operationally strong businesses access to a deep and diverse pool of institutional investors, at tenors and costs that support the working capital intensity of petroleum trading and distribution.

“This transaction is a testament to what is achievable when credible issuers partner with experienced advisers to access the markets.”

Alade added that the successful execution of the programme further reinforces Pathway Advisors’ position as a trusted financial advisory and investment banking firm in executing complex and large-scale capital market transactions.

Also speaking, the chief executive officer/managing director of Pivot Integrated Energy Services, Mr Babajide Babatope, described the CP programme as a critical component of the company’s growth strategy.

“Nigeria’s downstream energy market demands scale, speed, and the right capital structure to compete effectively. This commercial paper programme gives us the financial firepower to support our growing volumes, reinforce our supply chain, and serve our customers with greater reliability across the regions we operate in,” he said.

Babatope disclosed that Pivot is among the 20 approved off-takers in the Dangote Refinery PMS Consortium, with a target volume of 300 million litres per quarter, a development he said reflects the company’s strategic position in Nigeria’s post-subsidy energy supply chain.

He further stated that the CP Programme would support the company’s expanding regional footprint, including ongoing operations in Ghana, where Pivot has delivered over 100,000 metric tonnes of products since April 2025, as well as its planned entry into Tanzania with deliveries expected to commence in the third quarter of 2026.