Pathway Advisors Limited has led the N11.45bn Series 2 Commercial Paper issuance for Lekki Gardens Estate Limited. The transaction operates under the company’s N25bn Commercial Paper Programme approved by the Securities and Exchange Commission in November 2025.
Initially, Lekki Gardens offered the issuance at N10bn to investors. However, strong market demand pushed the offer beyond expectations. Consequently, the issuance became oversubscribed and expanded to N11.45bn in March 2026.
Institutional and corporate investors actively participated in the offer. Their strong response reflects growing confidence in Lekki Gardens’ real estate development capacity. It also highlights trust in the company’s governance structure and financial stability.
The proceeds will support Lekki Gardens’ working capital needs. In addition, the funds will accelerate the completion of several ongoing property projects. These developments align with the company’s commitment to delivering quality housing solutions.
Founder and Chief Executive Officer of Pathway Advisors Limited, Adekunle Alade, commented on the successful transaction. He noted that the oversubscription shows the firm’s ability to mobilise capital effectively. Furthermore, he emphasised Pathway’s expertise in structuring strategic funding solutions.
According to Alade, the firm remains committed to connecting credible issuers with investment opportunities. This approach also strengthens access to capital within Nigeria’s financial markets.
Meanwhile, Lekki Gardens’ Managing Director, Richard Nyong, praised the strong investor participation. He explained that the oversubscription confirms confidence in the company’s business model.
Nyong also reaffirmed Lekki Gardens’ commitment to delivering projects efficiently. He added that the funds will support ongoing developments and drive future expansion.
Similarly, Director Emily Atebe acknowledged the confidence shown by investors. She stated that the proceeds will strengthen project delivery and support the company’s next growth phase.
r
