Photo caption: Lekoil logo
Lekoil Nigeria Limited, an indigenous oil and gas exploration and production company, said it is pleased to announce the approval of its N100 billion bond programme by the Securities and Exchange Commission (SEC). The bond, facilitated through its investment vehicle Lekenergy SPV Plc, marks a pivotal milestone in the company’s strategic efforts to enhance its capital structure and drive long-term growth.
The signing ceremony which was held on February 11, 2025, in Lagos brought together key stakeholders, including the team of advisors, financial institutions, and industry leaders. The bond program will enable Lekoil Nigeria to finance critical asset development initiatives and enhance production capability aligning with its vision to bolster Nigeria’s energy security and economic development.
Renowned financial institutions, FBN Quest Merchant Bank and Iron Global Markets Limited have been appointed as Lead Financial Adviser and Joint Financial Adviser respectively, bringing their expertise and market knowledge to ensure a seamless and successful execution. Their involvement underscores the strong confidence of financial institutions in Lekoil Nigeria’s solid fundamentals and strategic vision.
Commenting on the approval, Olalekan Akinyanmi, CEO of Lekoil Nigeria Limited, stated: “This bond program is a transformative step for Lekoil Nigeria as we continue to strengthen our position in the oil and gas industry. The approval from the SEC and invaluable support from our financial advisers, FBN Quest Merchant Bank and Iron Global Markets Limited reaffirm our commitment to operational excellence, sustainable growth, and delivering value to our stakeholders.”
The tranche-based issuance will offer local and international investors a secure, strategically backed instrument which will bolster Nigeria’s energy infrastructure. Lekoil Nigeria reaffirms its commitment to transparency, robust corporate governance, and operational excellence as it executes this program.
