Nestoil Group Reassures Stakeholders of Financial Strength and Operational Stability Amid Media Reports on Asset Enforcement

The Nestoil Group has released an official statement addressing recent media publications concerning alleged enforcement actions and the current status of its corporate assets. The company assured its stakeholders, partners, and the general public that the issue at hand is purely commercial, currently before competent courts, and is being managed strictly through proper legal and regulatory channels.

According to the statement issued by its Corporate Communications Department (CCD), Nestoil confirmed it is fully aware of the reports circulating in some sections of the media. The Group emphasized that it has maintained open, transparent, and constructive engagements with all relevant authorities and financial partners. It further noted that these engagements are progressing positively and expressed confidence that the ongoing processes will lead to a fair, just, and lasting resolution consistent with Nestoil’s commitment to integrity, compliance, and accountability.

Reaffirming its operational stability, Nestoil stated that all its business lines remain fully active and unaffected by the current situation.

“Nestoil remains fully operational across all business lines. Our subsidiaries, projects, and commitments in the oil, gas, power, and infrastructure sectors continue without disruption. Proactive measures have been implemented to protect our workforce, sustain operations, and uphold our obligations to clients and partners,” the statement noted.

The Group also took the opportunity to highlight its corporate legacy, underscoring that its identity and reputation are built on resilience, professionalism, and service to national development. For over three decades, Nestoil has been at the forefront of Nigeria’s indigenous participation in the energy and infrastructure sectors pioneering complex engineering projects and playing a major role in driving the country’s industrial and economic growth.

“We remain guided by our core values of resilience, integrity, and transparency, and will continue to conduct our business with professionalism and respect for the rule of law. These values define who we are and serve as a constant anchor through every challenge and opportunity we face,” the Group stated.

In addressing concerns about its financial health, Nestoil assured that it remains financially sound and strategically focused, despite misleading reports.

The Group reiterated its confidence in Nigeria’s institutions and the rule of law, reaffirming that it would continue to engage with all stakeholders in good faith and in accordance with due process.

Concluding its statement, the company called for responsible reporting and public restraint, urging the media and members of the public to rely only on verified information issued directly by the Nestoil Group. The company pledged to continue providing timely updates where necessary, in the spirit of transparency and accountability.

Reassuring stakeholders once again, the Group stated, “We understand the concerns that recent reports may have generated and wish to assure all stakeholders that Nestoil Group remains financially strong, operationally stable, and strategically focused.

“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.”

Through this reaffirmation, Nestoil aims to calm public concerns and reassert its unwavering commitment to stability, transparency, and national development amid ongoing media speculations.