Leading indigenous oil and gas exploration and production company, Lekoil Nigeria Limited, says it has received the blessing of the Securities & Exchange Commission (SEC Nigeria) for a N100bn bond programme.

The bond was facilitated through its investment vehicle Lekenergy SPV Plc, marks a pivotal milestone in the company’s bid to enhance its capital structure and drive long-term growth

The signing ceremony was held on February 11, 2025, in Lagos attracted key stakeholders including the team of advisors, financial institutions, and industry leaders.

The bond programme 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, Chief Executive of Lekoil Nigeria Limited, described the bond programme is a transformative step for Lekoil Nigeria as the company continues to strengthen its “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 reaffirmed its commitment to transparency, robust corporate governance, and operational excellence as it executes this programme.