Heirs Energies Limited, Nigeria’s indigenous integrated energy company, has secured $750 million in financing from the African Export-Import Bank (Afreximbank), marking one of the largest debt transactions concluded by an African-owned energy operator.

The financing was executed at a signing ceremony held in Abuja at the weekend by the Chairman of Heirs Energies, Tony O. Elumelu, and the President/Chairman of Afreximbank, Dr George Elombi.

The transaction represents one of the largest funds secured by an indigenous African energy company. It demonstrates lender confidence in Heirs Energies’ operating performance, governance standards, proprietary brownfield excellence capability, and long-term growth trajectory.

The transaction underscores growing lender confidence in the operational turnaround and financial discipline of Heirs Energies, following its assumption of operatorship of Oil Mining Lease (OML) 17.

Since assuming operatorship of OML 17, Heirs Energies has implemented a structured transformation programme aimed at restoring production, strengthening asset integrity, and improving operational efficiency. Through targeted brownfield interventions and infrastructure optimisation, the company has successfully transitioned from acquisition-led financing to a capital structure aligned with the long-term development profile of its reserves.

Speaking at the signing ceremony, Elumelu said the transaction was a powerful affirmation of what African enterprise could achieve when backed by disciplined execution and long-term African capital.

Elombi, in his remarks, revealed that Afreximbank was proud to support Heirs Energies at this pivotal stage of its growth.