Lekki Gardens Records N11.45bn Oversubscribed Series 2 CP Issue

Lekki Gardens Estate Limited has completed the issuance of its N11.45 billion Series 2 Commercial Paper under its N25 billion Commercial Paper Programme approved by the Securities and Exchange Commission (SEC) in November 2025, marking a significant milestone in the Company’s participation in Nigeria’s short-term debt capital market.

Originally offered at N10 billion, the March 2026 issuance attracted strong participation from institutional and corporate investors, resulting in a notable oversubscription and subsequent upsizing to N11.45 billion.

Proceeds from the issuance will support Lekki Gardens’ working capital requirements and the completion of several ongoing projects, reinforcing the company’s commitment to delivering high-quality real estate developments.

Commenting on the successful issuance, Richard Nyong, managing director of Lekki Gardens Estate Limited, stated:

“The strong investor participation and oversubscription recorded in this issuance reflect the market’s confidence in Lekki Gardens’ business model, governance standards, and proven track record in delivering quality developments. We remain committed to executing our projects efficiently while creating long-term value for our investors and stakeholders. This successful issuance further strengthens our capacity to accelerate the completion of our ongoing developments and pursue new growth opportunities.”

We appreciate the support of the investing community and our partners, particularly Pathway Advisors, whose expertise significantly contributed to the success of this transaction. We remain focused on delivering high-quality developments while expanding our footprint in Nigeria’s real estate sector.”

In her remarks, the director of Lekki Gardens Estate Limited, Emily Atebe, said, “We appreciate the strong investor response and confidence shown in Lekki Gardens through this oversubscribed issuance.

It reaffirms the strength of our development pipeline, our disciplined execution strategy, and our commitment to maintaining high governance standards. The proceeds will support the completion of key projects and position the company to pursue the next phase of its strategic expansion.”

Also, commenting on the successful transaction, founder and CEO of Pathway Advisors Limited, Adekunle Alade (FCA), noted that:

“The oversubscription underscores Pathway’s strong ability to mobilise capital from both institutional investors and high-net-worth individuals (HNIs). It also reflects our expertise in navigating complex regulatory environments and structuring effective capital solutions that enable our clients to achieve their funding objectives.”