Heirs Energies Ltd, Nigeria’s leading indigenous integrated energy company, has executed a USD 750 million financing agreement with the African Export-Import Bank (Afreximbank). The transaction was conducted at a signing ceremony in Abuja, attended by the Chairman of Heirs Energies, Tony Elumelu, and the President and Chairman of Afreximbank, Dr George Elombi.
A statement made available to newsmen by the Head of Corporate Communications for Heirs Energies Ltd, Chidimma Ugbojiaku, stated that the transaction represents one of the largest financings secured by an indigenous African energy company. It demonstrates lender confidence in Heirs Energies’ operating performance, governance standards, proprietary brownfield excellence capability, and long-term growth trajectory.
The Afreximbank facility is expected to accelerate field development, optimise production, and enable Heirs Energies to deliver value-accretive growth opportunities while maintaining disciplined capital management.
Speaking at the historic event, Tony Elumelu, Chairman of Heirs Energies, said:
“The transaction is a powerful affirmation of what African enterprise can achieve when backed by disciplined execution and long-term African capital. It also reflects the successful journey Heirs Energies has taken from turnaround to growth and reinforces our belief in African capital working for African businesses. This is Africa financing Africa’s future.”
In his own remarks, Dr George Elombi, President and Chairman of Afreximbank, noted:
“Afreximbank is proud to support Heirs Energies at this pivotal stage of its growth. This financing reflects our confidence in the company’s leadership, governance, and asset base, and aligns with our mandate to support African champions that are driving sustainable economic transformation across the continent.”
The statement further explained that with this milestone achieved, Heirs Energies is firmly positioned to advance into its next phase of growth, focused on operational excellence, responsible resource development, and enduring value creation for stakeholders.
