Lagos, Nigeria-October 28, 2025
Nestoil Group (“the Group”) acknowledges recent media reports regarding certain enforcementactions and the status of its corporate assets.
We wish to provide the following clarifications to ourstakeholders, partners, and the general public:
1. Awareness and ContextNestoil is aware of the reports and ongoing legal processes referenced in the media. The situationrelates to a commercial matter currently before the courts, which is being addressed throughappropriate legal and regulatory channels.
2. Active Engagement and Resolution EffortsThe Group continues to cooperate fully with all relevant authorities and financial partners to resolveany outstanding matters in a transparent and responsible manner. Constructive discussions areongoing, and we remain confident that these engagements will result in a fair and lasting resolution.
3. Business Continuity and Operational StabilityNestoil remains fully operational across all business lines. Our subsidiaries, projects, andcommitments in the oil, gas, power, and infrastructure sectors continue without disruption. Proactivemeasures have been implemented to protect our workforce, sustain operations, and uphold ourobligations to clients and partners.
4. Our Legacy of Integrity and Corporate ResponsibilityFor over three decades, Nestoil has built a reputation as one of Nigeria’s foremost indigenous EPCand energy companies. We remain guided by our core values of resilience, integrity, andtransparency, and will continue to conduct our business with professionalism and respect for therule of law. These values define who we are and serve as a constant anchor through every challengeand opportunity we face.
5. Assurance to StakeholdersWe understand the concerns that recent reports may have generated and wish to assure allstakeholders that Nestoil Group remains financially strong, operationally stable, and strategicallyfocused.
We will continue to provide updates as appropriate and urge the public and media to rely solely on verified communications issued directly by the Group.
For media enquiries:Corporate Communications Department Nestoil Group
