By Atoyebi Nike
Johnvents Industries Limited has launched a ₦100 billion ($67.5 million) commercial paper to expand its cocoa processing and export operations across Nigeria.
The offer, which opened on October 17 and closes on October 24, carries a 270-day tenor with an annual yield of about 23%. Proceeds will fund production expansion, working capital, and export growth at the company’s Ondo State facilities.
Group Managing Director John Alamu said the initiative aims to strengthen Nigeria’s role in global cocoa value addition.
“We’ve moved beyond just exporting raw beans. Local processing creates jobs, retains value, and stabilizes foreign exchange,” he said.
Under Alamu’s leadership, Johnvents’ revenue has grown from ₦59 billion in 2022 to over ₦230 billion in 2024. The company currently holds a BBB+ credit rating, reflecting investor confidence and sound financial management.
Analysts say the move aligns with broader efforts by Nigerian agribusinesses to leverage short-term funding for long-term industrial growth.
