NASD Lists Jilnas Nigeria’s N3bn 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 offer opened on August 27, 2025 and closed on September 4, 2025, with maturity set for June 2, 2026.

Arranged by Pathway Advisors Limited, the 270-day Series 1 CP offers investors a competitive 25 per cent yield per annum. Funds raised will support Jilnas’ short-term working capital needs as the Company deepens its market leadership.

Speaking on the transaction, founder and CEO of Pathway Advisors Limited, Adekunle Alade 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.

The managing director of NASD, Eguarekhide Longe, 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.

Market watchers explained that this momentum not only enhances market confidence but also creates a more vibrant ecosystem where well-governed businesses can efficiently access the capital they need to grow.

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.

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.