Commercial Paper Issuances in Nigeria Reach N1.3 Trillion

Commercial paper (CP) is increasingly recognized as a vital short-term funding instrument for Nigerian companies, allowing them to raise funds for working capital and other near-term financing needs. In 2026, commercial paper issuances in Nigeria amounted to approximately N1.3 trillion, indicating a substantial mobilization of short-term corporate funding.

While much of this activity occurs over the counter (OTC), transitioning to an organized exchange could enhance transparency, issuer visibility, and investor access. Jude Chiemeka, Chief Executive Officer of Nigerian Exchange Limited, stated that commercial paper provides eligible corporates with a flexible and efficient means to access short-term capital directly from investors.

Listing CP on an exchange not only improves market infrastructure but also supports price discovery and deeper secondary-market activity, ultimately benefiting both issuers and investors.