Heirs Energies Limited, Nigeria’s leading indigenous integrated energy company, has executed a landmark USD750 million financing agreement with the African Export–Import Bank (Afreximbank).
The transaction was concluded at a signing ceremony in Abuja on December 20, 2025, attended by Tony O. Elumelu, Chairman of Heirs Energies, and Dr. George Elombi, President and Chairman of Afreximbank.
The deal represents one of the largest financings secured by an indigenous African energy company, underscoring lender confidence in Heirs Energies’ operating performance, governance standards, and long‑term growth trajectory.
Since assuming operatorship of OML 17, Heirs Energies has doubled production from 25,000 barrels of oil per day (bopd) and 50 million standard cubic feet of gas per day (mmscf/d) to over 50,000 bopd and 120 mmscf/d.
All gas output is supplied to Nigeria’s domestic market, catalyzing power generation and strengthening energy security.
Growth, Governance, and African Capital at Work
The Afreximbank facility will accelerate field development, optimize production, and enable Heirs Energies to pursue value‑accretive growth opportunities while maintaining disciplined capital management.
Speaking at the signing, Tony Elumelu said: “This transaction is a powerful affirmation of what African enterprise can achieve when backed by disciplined execution and long‑term African capital. It 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.”
Dr. George Elombi added: “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 driving sustainable economic transformation across the continent.”
The transaction reinforces Afreximbank’s role in enabling indigenous operators with the scale and capability to deliver sustainable energy development, energy security, and long‑term economic value across Africa.
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