Daraju Industries Launches N5 Billion Commercial Paper

Daraju Industries Limited has returned to the market with a N5 billion Series 3 commercial paper, part of its established N50 billion commercial paper program. The issuance is set to open on February 25, 2026, and close on March 5, 2026.

Daraju Industries, a wholly-owned subsidiary of Ashwah Holdings Limited, operates in Nigeria's fast-moving consumer goods (FMCG) sector and maintains a diversified product portfolio, including the well-known MyMi toothpaste brand. The company has a nationwide distribution footprint with hubs in Onitsha, Kano, Ota, Abuja, Asaba, and Ibadan.

Daraju holds a long-term issuer rating of BBB and a short-term rating of A3 from GCR, which supports its market position. After a loss of N8.3 billion in 2023, primarily due to foreign exchange losses, the company returned to profitability in 2024 with a modest profit of N906 million, which increased sharply to N3.29 billion in 2025.

The Series 3 commercial paper will have a tenor of 364 days and aims to bridge short-term funding needs.