Ojaja Pan Africa Redeems ₦9.2 Billion Debt, Reinforcing Financial Stability
Ojaja Pan Africa Limited, the investment conglomerate associated with the Ooni of Ife, has successfully cleared ₦9.2 billion in debt from Nigeria's regulated public debt market. This move underscores the company's robust financial health during a period of elevated borrowing costs, with the Central Bank's Monetary Policy Rate at 27 percent.
Full Redemption of Commercial Paper Programme
The company, chaired by Adeyeye Enitan Ogunwusi, completed the repayment of its inaugural Commercial Paper issuance under a ₦10 billion programme registered on the FMDQ Securities Exchange. The redemption involved ₦2.15 billion under Series 1, which matured in November 2025, and ₦6.91 billion under Series 2, maturing in February 2026. All obligations were settled using internally generated funds, reflecting prudent financial management.
Acting Managing Director Dr. Ayobami Oyedare emphasized that this repayment validates the confidence investors have placed in the company. He noted that it positions Ojaja Pan Africa to utilize the remaining capacity under its ₦10 billion programme for expansion across Africa. The transaction was arranged by Comercio Partners Capital Limited, with CEO Stephen Osho hailing it as a milestone achieved despite Nigeria's challenging economic tightening cycle.
Strategic Diversification and Economic Impact
Beyond debt markets, Ojaja Pan Africa has built a diversified portfolio over two decades, spanning real estate, hospitality, agriculture, manufacturing, education, tourism, and retail. The group focuses on import substitution, job creation, and value-chain development. In February 2026, the Ooni signed a Memorandum of Understanding with the Nigerian Tourism Development Authority to enhance heritage infrastructure and attract private capital into tourism.
Key initiatives include OJAJA Soft Drinks, a beverage brand using locally sourced ingredients like kola nut and ginger to reduce import dependence and support farmers. In agriculture, youth participation is encouraged through cocoa development schemes, promoting local processing over raw bean exports to retain value and generate employment. The group's flagship project, Ojaja Mall in Lekki, Lagos, integrates retail, cinema, and office spaces, creating numerous job opportunities.
Strengthening Market Confidence Amid Economic Challenges
At a time when Nigeria's macroeconomic environment remains difficult, Ojaja Pan Africa's full debt redemption sends a strong message to the debt capital market. It demonstrates that disciplined financial management and strategic diversification can foster stability. For investors facing high rates and liquidity constraints, this development boosts confidence in well-governed issuances within Nigeria's regulated debt market.
This achievement aligns with broader positive trends in Nigeria's financial landscape. For instance, Nigeria's stock market has emerged as Africa's strongest performer in U.S. dollar terms this year, delivering a 34.39 percent return year-to-date. This reflects improved currency stability and restored investor confidence, complementing Ojaja Pan Africa's efforts to reinforce market trust through transparent and reliable financial practices.
