United Nigeria Airlines targets N100bn commercial paper market

Author: Dickson OmobolaPublished on: October 16, 2026Country: Nigeria

Business & Economy

United Nigeria Airlines plans to become Nigeria’s first domestic airline to issue commercial paper, starting with a N20bn tranche under a N100bn programme. The issue will comprise two series with tenors of 270 and 364 days, arranged by Meristem Capital, with five firms acting as dealers. Rated A3 and BBB- by Agusto & Co. and A1 and BBB by DataPro, the airline’s revenue rose from N10.3bn in 2021 to N90.8bn in 2025 and reached N95.6bn in the first half of 2026. It operates 10 aircraft and plans to take delivery of six more before year-end to support its expansion.

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