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Pathway Advisors Limited, acting as Lead Issuing House and Financial Adviser, has closed a N11.45 billion Series 2 Commercial Paper (CP) issuance for Lekki Gardens Estate Limited.
The issuance, part of a N25 billion CP programme approved by the Securities and Exchange Commission (SEC) in November 2025, was originally set at N10 billion. Strong demand from institutional and corporate investors led to a significant oversubscription, prompting an upsize to N11.45 billion.
The capital raised is earmarked for Lekki Gardens’ working capital and the completion of ongoing real estate projects. This move reinforces the firm’s position as a leader in Nigeria’s property market and highlights its commitment to timely project delivery.
Adekunle Alade, Founder and CEO of Pathway Advisors Limited said, “the oversubscription underscores Pathway’s ability to mobilise capital from institutional investors and high-net-worth individuals. It reflects our expertise in navigating complex regulatory environments and structuring capital solutions that enable our clients to meet their funding objectives.”
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Richard Nyong, Managing Director of Lekki Gardens Estate Limited said “this market response reflects confidence in our business model and governance standards. We remain focused on executing projects efficiently and creating long-term value. This successful issuance strengthens our capacity to accelerate ongoing developments and pursue new growth opportunities.”
For Mrs. Emily Atebe, Director of Lekki Gardens Estate Limited: “The investor response reaffirms the strength of our development pipeline and disciplined execution strategy.
These proceeds will directly support the completion of key projects and our next phase of strategic expansion.”
