Nestoil Group has responded to the recent seizure of its headquarters in Victoria Island, Lagos, by armed police officers enforcing a High Court order over the company’s failure to repay a $1 billion debt owed to its lenders.
The company, in a statement issued, reassured stakeholders that its operations across Nigeria remain unaffected despite the development.
According to Nestoil, the enforcement action pertains to a specific legal dispute and does not impact its ongoing projects or commitments within the oil and gas sector.
“We wish to assure all our stakeholders, partners, and clients that our business operations continue without interruption. The matter under enforcement is being addressed through appropriate legal channels,” the statement said.
The company emphasized its long-standing reputation as a key player in Nigeria’s oil and gas industry and reaffirmed its commitment to maintaining operational stability, transparency, and engagement with all relevant authorities.
Discover more from Energy News Africa
Subscribe to get the latest posts sent to your email.