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A statement from the company on Tuesday noted that the CPs would support the working capital requirements of TGI Foods’ co-promoters, West African Soy Industries Limited and WACOT Rice Limited.

The Vice Chairman of TGI Group, Farouk Gumel, stated, “The issuance demonstrates TGI Foods’ continued determination to invest in Nigeria’s food sector and support our national ambition of self-sufficiency in staple food items.”

Gumel reiterated the group’s commitment to strategic alliances to further champion Nigeria’s food security cause.

“This commercial paper programme marks a significant milestone in our ongoing efforts to secure flexible financing that supports our operations and growth initiatives. This programme offers investors an excellent opportunity to participate in the most inclusive and impactful sector of the Nigerian economy.

The jobs we create in the agriculture and food value chain are second to none. Such an investment will positively impact many rural communities while delivering competitive returns to urban investors,” he expounded.

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