NASD lists Jilnas Nigeria N3bn Series 1 CP
NASD Plc has admitted a 3 billion naira commercial paper from Jilnas Nigeria Limited, representing the initial tranche of a 10 billion naira program arranged by Pathway Advisors Limited. The 270-day instrument delivers a 25 percent annual yield to investors, with proceeds designated for working capital requirements at the edible vegetable oil manufacturer.
Adekunle Alade, founder and chief executive at Pathway Advisors, characterized the transaction as evidence of market confidence in the issuer’s operational foundations and governance practices. Eguarekhide Longe, managing director at NASD Plc, noted increasing participation from private enterprises seeking structured capital through the exchange’s commercial paper platform.
Jilnas operates processing facilities that include a 200-ton-per-day solvent extraction plant, storage silos, refinery capacity, and roasting equipment. The company generated revenue of 45.57 billion naira while maintaining distribution networks across southeastern, southern, and northern Nigerian markets. Previous debt obligations exceeding 4.8 billion naira have been successfully retired.
