FirstCap Limited, a leading investment banking and capital markets advisory firm, has successfully structured and executed a ₦25 billion commercial paper (CP) programme for Lekki Gardens Estate Limited marking a major funding breakthrough for one of Nigeria’s biggest residential real-estate developers.
The programme, executed under First HoldCo Plc, positions FirstCap as Joint Issuing House and Placing Agent, enabling Lekki Gardens to access a consistent stream of short-term financing to support construction timelines, strengthen operations, and fast-track project completion.
According to a statement from FirstCap, the transaction reflects the company’s expanding influence in Nigeria’s debt-capital-markets ecosystem, where it continues to diversify issuer options, deepen liquidity, and expand fixed-income investment choices for institutional investors.
Future issuances under the CP programme are expected to fund Lekki Gardens’ working-capital requirements and general corporate needs, boosting the company’s capacity to scale ongoing real-estate developments across Lagos and other major cities.
Speaking on the achievement, FirstCap’s Managing Director, Ukandu Ukandu, said the deal showcases the firm’s commitment to delivering capital solutions that support long-term economic growth.
“Our work with Lekki Gardens demonstrates our ability to mobilise institutional capital, navigate regulatory frameworks, and structure financing that accelerates Nigeria’s development goals.
As demand for infrastructure continues to rise, we are focused on bridging the funding gap through innovative, investor-friendly instruments,” Ukandu stated.
With more than 20 years of transactional expertise across multiple sectors, FirstCap remains a major player in capital raising, mergers and acquisitions, and financial advisory, supporting businesses seeking scalable and efficient financing models.
