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Article

Pathway Advisors leads N300bn commercial paper programme for Pivot Energy's downstream expansion

Business Post Jun 29, 2026
Read the original Article page

TL;DR

Pathway Advisors Limited is acting as Lead Issuing House for a N300 billion Commercial Paper Programme for Pivot Integrated Energy Services Limited.

The programme will finance working capital for petroleum trading and distribution, giving Pivot access to institutional investors at short-term tenors. Documentation was signed at Capital Club, Victoria Island, Lagos after all regulatory clearances were completed.

Intelligence

Pivot is one of 20 approved off-takers in the Dangote Refinery PMS Consortium targeting 300 million litres per quarter, has delivered over 100,000 metric tonnes in Ghana since April 2025, and plans entry into Tanzania with deliveries targeted in Q3 2026.

This transaction signals that Nigeria's post-subsidy downstream energy sector is actively turning to capital markets, not just bank loans to fund working capital, a shift that opens a new financing lane for operationally strong energy companies.

For institutional investors such as pension fund administrators and asset managers, N300 billion commercial paper programmes from credible downstream players represent a growing fixed-income opportunity tied directly to Nigeria's fuel supply chain.

As Dangote Refinery ramps up PMS distribution through its approved off-taker consortium, expect more downstream companies to follow Pivot's path and tap the commercial paper market for scale capital.

The signal to watch is whether the Securities and Exchange Commission and the Nigerian Exchange Group facilitate faster regulatory clearance for energy-sector CP issuances, which would determine how quickly this financing model spreads across the sector.

Funding extracted from this article

1
Pivot Integrated Energy Services Limited Debt · N300bn

Regulatory activity extracted

0

No regulatory actions were extracted from this article.

Tenders extracted

0

No tenders were extracted from this article.

Further reading

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Companies named

3

People named

2

Elsewhere on these companies

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