Agroeknor, a major player in Nigeria’s agribusiness and agro-processing sector, has successfully completed its first commercial paper issuance, recording a 25 percent oversubscription. The development marks a significant milestone in the company’s bid to diversify funding sources and strengthen its presence in Nigeria’s capital markets.
The offering attracted strong participation from a wide range of institutional and high-net-worth investors, signaling broad confidence in the company’s business strategy and future growth.
Agroeknor’s CEO, Timi Oke, described the investor response as a clear endorsement of the company’s operational integrity and strategic direction. According to him, the funds raised will be used to meet working capital needs and support expansion across local and global markets.
“This achievement underlines investor confidence in our ability to create value throughout the agricultural value chain,” he said. “We will continue to focus on transparency, sustainability, and good governance as we scale.”
The funds will go toward enhancing the company’s export operations, expanding production capacity, and strengthening its supply chain, especially for its core exports—hibiscus, ginger, and sesame.
The commercial paper program was arranged and structured in collaboration with UBA Capital and law firm Udo Udoma & Belo Osagie.
Agroeknor operates by aggregating, processing, and exporting high-value, non-oil agricultural commodities. The company works closely with over 10,000 smallholder farmers and cooperatives across Nigeria, prioritizing sustainability, quality, and inclusive growth as it serves international markets.
