Hillcrest Agro-Allied Industries enters Commercial Papers market for N10bn

Hillcrest Agro-Allied Industries Limited (Hillcrest) is currently in the market to raise N10billion from its Series 1 and 2 Commercial Paper Issuance (the Offer).

The offer which is now open and scheduled to close on Friday April 17, 2026 is under its N30 billion Commercial Paper programme.

Hillcrest Agro-Allied Industries Limited, headquartered in Offa, Kwara State, is a leading player in Nigeria’s agro-processing sector with a core focus on large-scale rice milling.

Over the past four years, the Company has improved its operational efficiency through a transition to a more automated and cost-efficient production model.

While revenue moderated to N12.23 billion in 2025 (from N19.57 billion in 2023), this was largely due to a planned three-month phased shutdown undertaken to implement full-scale automation and comprehensive plant maintenance—an initiative expected to enhance long-term productivity, margins, and operational performance.

Established in 2012 and spun off as an independent entity in 2013, the Company has demonstrated consistent growth driven by operational discipline and a scalable business model, positioning it to expand its footprint across Nigeria and the broader West African market.

Hillcrest has significantly enhanced its production capacity through the deployment of advanced automated milling technology, increasing capacity from 10 metric tons per hour to 26 metric tons per hour.

This has driven daily output growth from 2,000 to 5,200 (50kg) bags, translating to an annual capacity of approximately 187,200 metric tons.

With a clear expansion roadmap targeting 300,000 metric tons per annum by 2028, the Company is well positioned to become one of Nigeria’s leading integrated rice producers.

Supported by favourable industry fundamentals, including rising domestic consumption and increasing demand for high-quality rice, Hillcrest continues to strengthen its market position.