The Nestoil Group has assured stakeholders that its operations remain unaffected following the sealing of its Lagos headquarters by armed police officers enforcing a court order over an alleged multibillion-dollar debt.
According to court documents, the enforcement stems from claims that the companies and their promoters owe more than $1.01 billion and ₦430 billion as of September 30, 2025, relating to various credit facilities.
In a statement released Tuesday, Nestoil described the issue as a commercial dispute currently before the court and said it is being addressed through proper legal and regulatory channels.
The company reaffirmed its commitment to working transparently with authorities and financial partners, noting that constructive discussions are ongoing to achieve a fair and lasting resolution.
“Nestoil remains fully operational across all business lines,” the company said.
“Our subsidiaries, projects, and commitments in the oil, gas, power, and infrastructure sectors continue without disruption.”
It added that measures have been taken to protect employees, maintain operations, and uphold obligations to clients and partners.
“We understand the concerns raised by recent reports and assure all stakeholders that Nestoil Group remains financially strong, operationally stable, and strategically focused,” the statement concluded.
