Pivot Integrated Energy Services Limited has opened subscriptions for its series 1 Commercial Paper (CP) issuance, aiming to raise up to N100 billion under a broader N300 billion CP programme.

The company, an indigenous downstream energy player, is seeking investors to participate in its growth as it strengthens operations across Nigeria and selected African markets.

The funds will support working capital for importation, trading, storage, distribution, and supply of refined petroleum products like PMS, AGO, and ATK.Pivot is one of 20 approved off-takers under the Dangote Refinery PMS Consortium, with a quarterly target of 300 million litres.The issuance, closing on July 31, highlights the company's robust off-take arrangements and improving profitability.This move underscores Nigeria's energy sector dynamics as local firms secure financing to expand their market presence.

The article also notes Pivot's diverse customer base, including bulk buyers, distributors, and retail channels in key cities like Lagos and Port Harcourt.

The initiative reflects broader trends in African energy markets, where indigenous companies are leveraging financial instruments to fuel growth amid evolving economic conditions.