Pathway Advisors Limited has announced its role as Lead Issuing House to a N300 billion Commercial Paper Programme for Pivot Integrated Energy Services Limited, reinforcing its leadership in capital market advisory and energy sector finance.
The transaction was formally concluded with the execution of programme documentation at Capital Club, Victoria Island, Lagos, following the completion of all regulatory and programme clearances.
The signing ceremony marked a defining milestone in mobilising large-scale short-term capital for Nigeria’s downstream petroleum sector.
Speaking at the event, Mr. Adekunle Alade (MBA, FCA, M.CIoD), Founder and Chief Executive Officer of Pathway Advisors Limited, emphasized the strategic significance of the Commercial Paper issuance in financing working capital, thereby enabling high-growth energy businesses to scale efficiently and sustainably.
“Nigeria’s downstream energy sector is undergoing a profound transformation, accelerated by the removal of fuel subsidies, the emergence of domestic refining capacity, and rising demand for reliable product supply across the country and the broader West African region. Companies like Pivot Integrated Energy Services Limited with a vertically integrated model, a strong track record, and a clear growth mandate are exactly the kind of issuers that the capital markets should be financing.”
“Commercial paper, when structured appropriately, gives operationally strong businesses access to a deep and diverse pool of institutional investors, at tenors and costs that support the working capital intensity of petroleum trading and distribution. This transaction is a testament to what is achievable when credible issuers partner with experienced advisers to access the markets.”
“The successful execution of this programme further affirms Pathway Advisors’ position as a trusted financial advisory and investment banking firm in complex, large-scale capital market transactions,” he stated.
In his comments, Babajide Babatope, CEO/Managing Director of Pivot Integrated Energy Services Limited, described the commercial paper programme as a pivotal step in the company’s strategy to expand its supply capacity and strengthen its position as a leading integrated energy provider in Nigeria and West Africa.
“Nigeria’s downstream energy market demands scale, speed, and the right capital structure to compete effectively. This commercial paper programme gives us the financial firepower to support our growing volumes, reinforce our supply chain, and serve our customers with greater reliability across the regions we operate in.”
He noted that Pivot is one of the 20 approved off-takers in the Dangote Refinery PMS Consortium, with a target volume of 300 million litres per quarter, a position that underscores the company’s standing in Nigeria’s post-subsidy energy supply architecture.
He added that the CP Programme would also support the company’s accelerating regional push, including active operations in Ghana, where Pivot has delivered over 100,000 MT since April 2025, and a planned entry into Tanzania with deliveries targeted in Q3 of 2026.
Babatope further expressed appreciation to Pathway Advisors and other transaction parties for their professionalism, rigour, and commitment throughout the programme’s execution, and signalled his intention to continue deepening these partnerships as Pivot advances to subsequent phases of growth and financing.
ACAMB urges Banks to increase adoption of QR code, digital payment channels
The Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) has urged banks to deepen the adoption of digital payment channels, including QR code payments, following a courtesy visit to the Nigeria Inter-Bank Settlement System (NIBSS) PLC in Lagos.
The visit, which brought the leadership of both bodies together, followed a deliberation around a shared concern with emphasis on the need for the industry to strengthen its payment rails and speak with a united and accurate voice when service disruptions occur.
Leading the ACAMB delegation, President, Jide Sipe said the association wants a forum where banks can have a single conversation about the sector, so that new and valuable developments are effectively disseminated to the public promptly and accurately.
“We want to make sure there is a space where banks engage, share ideas, and ask relevant questions about how to grow the industry as well as manage its challenges,” Sipe said.
The association’s President added that ACAMB has been meeting stakeholders across the sector, including the Chartered Institute of Bankers of Nigeria (CIBN), to understand where the association can support better collaboration and engagement.
Sipe pointed to recent system downtime as a test of how the industry communicates.
He said ACAMB wants the narrative around such incidents to rest on accurate information rather than on accounts from people outside the operations, and proposed a stakeholders’ conference that would connect heads of corporate communications directly with NIBSS.
Responding, NIBSS Managing Director and Chief Executive Officer, Premier Oiwoh, said, reliable digital payment infrastructures are foundational for economic inclusion.
“That is why one of the key ingredients that shape our philosophy at NIBSS is our commitment to financial inclusion. Seamless and effective payment has always been at the core of what we do and one key path to achieving this is ensuring a payment system that works. This will in return optimise revenue security, better customer experiences, and faster time-to-market which in return facilitates economic growth,” he said.
Oiwoh added that since joining NIBSS in May 2019, the organisation has prioritised industry fairness and trust in digital payments by tracking transaction “velocity” to anticipate crashes and shifting load between environments to keep services running.
“As we all know, customers expect payments to be fast, accurate, and flexible”.
He further ascribed NIBSS Instant Payment (NIP) as the foundation of that work, describing it as Nigeria’s first account-based instant transfer and, by the organisation’s account, the first of its kind anywhere in the world, when it launched about 15 years ago.
Oiwoh linked that foundation to the National Payment Stack (NPS) created by NIBSS, which he said is effectively cutting transaction time and lifting efficiency across the system.
By his account, the NPS “enables secure, real-time payments, cross-border transactions, and financial inclusion across Nigeria and Africa,” giving banks and customers faster, more reliable rails to move money within the country and beyond its borders.
According to him, NPS, today ranks top compared to other payment systems across the globe, including India’s Unified Payment Interface (UPI) due to the obvious evidence inherent in its performance, which is second to none at the moment and we are proud that this came out of Nigeria.
He also spoke on other key responsibilities of NIBSS, which include but not limited to fashioning out best innovative solutions to promote interoperability among banks, deepening trust and awareness with the digital payment platform and most importantly tactical support in helping to curb fraud, which has been immensely successful with numerous fraud mitigations leading to high profile arrests, since assuming office, particularly with the help of law enforcement agencies.
He also spoke on the need for banks to also adopt other innovative ways of payment like the NQR (Nigeria Quick Response) code which he noted is a secure, account-based payment solution designed by NIBSS to simplify and reduce the cost of mobile transactions. It allows customers to securely transfer funds simply by scanning a merchant’s displayed QR code with their banking app.
Some of the benefits, he mentioned, include, Instant Settlement; Instant Notifications; Zero Onboarding Cost; Lower Transaction Fees, NQR significantly lowers processing and transaction fees across various price bands.
According to Oiwoh, “there is absolutely no *huge* cost to acquire or set up the merchant infrastructure, businesses only need to print or display the code. Both the buyer and the seller get immediate transaction alerts, allowing for real-time payment verification. Most importantly, there are fewer disputes & chargebacks. The inherent benefits point to an efficient system that further engenders ease for all”, he said.
The conversation reinforced an industry shift toward faster, contactless payments, with ACAMB urging banks to expand their rollout of NIBSS NQR-powered QR payments for and on behalf of the financial service industry, which let customers pay by scanning a code rather than reaching for cash.
Oiwoh pointed out that United Bank for Africa (UBA) Plc was among the early movers, onboarding all its POS merchants onto NQR so that customers without their cards can simply scan to pay.
Founded in 1996, ACAMB continues to position itself as the industry’s voice on reputation, advocacy, and professional standards. It continues to hold sway as an association committed towards restoring the ethics and public confidence in the financial sector as well as shaping positive views as the sector emerges stronger within and outside Nigeria, subSahara and African markets.