By Olakunle Oke
Nestoil Group has assured stakeholders that the company remains financially strong and operationally stable.
The company’s reassurance comes amidst recent media reports regarding the enforcement actions and the status of its corporate assets for debts owed.
In a statement issued by its Corporate Communications Department, the company acknowledged awareness of the reports and confirmed that the matter in question relates to a commercial issue currently before the courts.
Nestoil noted that it is engaging the appropriate legal and regulatory channels to resolve the matter transparently.
The Group emphasized its continued cooperation with relevant authorities and financial partners to achieve a fair and lasting resolution. “Constructive discussions are ongoing, and we remain confident that these engagements will result in a fair outcome,” the company stated.
Despite the legal proceedings, Nestoil assured that its operations across all business lines remain unaffected. The company affirmed that its subsidiaries, projects, and commitments in the oil, gas, power, and infrastructure sectors continue without disruption. It also noted that proactive measures have been implemented to protect its workforce and sustain operations.
Highlighting its legacy, Nestoil reiterated that it has, for over three decades, built a reputation as one of Nigeria’s leading indigenous engineering, procurement, and construction (EPC) firms.
The company further noted that it remains guided by its core values of resilience, integrity, and transparency while maintaining professionalism and respect for the rule of law.