Lekki Gardens Secures N11.45bn in Oversubscribed CP Issuance

Pathway Advisors Limited has successfully completed an oversubscribed issuance of N11.45 billion in commercial paper for Lekki Gardens Estate Limited, surpassing the initial target of N10 billion set for March 2026. The issuance was part of a N25 billion commercial paper program approved by the Securities and Exchange Commission.

The strong demand from institutional and corporate investors underscored sustained investor confidence in Lekki Gardens, which is noted for its proven development track record and solid governance framework. Adekunle Alad, founder and CEO of Pathway Advisors Limited, remarked that the oversubscription reflects the firm's capability to mobilize capital from institutional investors and high-net-worth individuals.

Richard Nyong, Managing Director of Lekki Gardens Estate Limited, stated that the strong investor participation is indicative of market confidence in Lekki Gardens' business model and governance standards. Emili Ateb, a director at Lekki Gardens Estate Limited, expressed appreciation for the investor response, emphasizing the commitment to efficient project execution and long-term value creation for stakeholders.