ThriveAgric, the technology-driven agricultural company, has successfully launched its maiden commercial paper issuance, closing at approximately ₦5.3 billion against an initial ₦5 billion target. The oversubscription reflects strong institutional demand and marks the firm’s entry into Nigeria’s debt capital markets, following the Securities and Exchange Commission’s approval of its ₦50 billion Commercial Paper Programme.
The Series 1 issuance provides ThriveAgric with a new funding channel to support its working capital and expansion drive. Proceeds will be deployed towards commodity aggregation, procurement, expanding its outgrower farmer network, and scaling agricultural trading operations across its hubs. The transaction underscores investor confidence in the company’s tech-enabled platform and disciplined governance structure.
CEO and co-founder Uka Eje described the milestone as validation of ThriveAgric’s financial management and resilience, noting that institutional backing will enhance flexibility to scale operations and ensure prompt offtake for smallholder farmers. Anchoria Advisory Services Limited, the Lead Issuing House, emphasized that the oversubscription signals growing investor appetite for structured capital market instruments supporting Nigeria’s real economy, particularly agriculture.
Over nearly a decade, ThriveAgric has empowered more than 1.2 million smallholders, facilitated over $150 million in financing, and boosted grain production to strengthen food supply chains. With this landmark debut, the company is positioned to deepen its presence across Nigeria’s agricultural value chain while leveraging capital markets to build a resilient, tech-led ecosystem.