Entertainment Africa

04/09/2026

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04/09/2026

02/09/2026

In a resounding vote of confidence from Nigeria’s debt capital market, Pivot Integrated Energy Services Limited has successfully closed its debut commercial paper issuance, raising N100 billion ($75.1 million) in a massively oversubscribed offer.

As indigenous energy players step up to redefine Africa's downstream sector, investor demand topped N100.08 billion ($75.12 million), signaling robust institutional appetite.

This milestone issuance anchors Pivot’s wider N300 billion ($225.2 million) Commercial Paper Programme.

Babajide Babatope, Managing Director of Pivot, noted that entering the debt market with such overwhelming backing provides the critical funding required to scale petroleum trading and distribution across Nigeria, Ghana, and eventually Tanzania.

The capital injection also bolsters Pivot's strategic capacity as an approved off-taker for the Dangote Refinery consortium.

Highlighting the significance of this debut, Adekunle Alade (MBA, FCA, M.CIoD), Founder and Chief Executive Officer of Pathway Advisors—the transaction's Lead Arranger—emphasized that passing the ultimate test of market confidence with an oversubscription is a landmark achievement for Nigeria’s financial ecosystem.

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18/08/2026

🎂 BIRTHDAY TODAY | DR. OBA OTUDEKO

Dr. Oba Otudeko turns 83 today.

Born on August 18, 1943, in Ibadan, Nigeria, Otudeko is a renowned Nigerian industrialist, investor and philanthropist whose business interests have spanned real estate, oil and gas, banking and manufacturing.

He is the founder of Honeywell Group, one of Nigeria’s prominent diversified business groups. He also holds 14.12% indirect stake in Ikeja Hotels Limited with worth of over $10 million.

At 83, Dr. Oba Otudeko remains one of the notable figures in Nigeria’s business history, with a career built across several decades of entrepreneurship, investment and philanthropy.

🎂 Happy 83rd birthday, Dr. Oba Otudeko!

Did you know he was born on August 18?