Coleman Technical Industries Limited has returned to the debt capital market with the launch of its Series 5 and 6 Commercial Paper (CP) issuance.
The West Africa’s premier manufacturer of wires and cables is seeking to raise N50 billion from the series 5 & 6 Commercial Paper (CP) issuance which is under its N100 billion Commercial Paper Programme.
“This offer meets PenCom requirements for PFA participation,” said Lagos-based CardinalStone Partners Limited.
The CP issuance which is now open is scheduled to close on Friday February 20. Coleman holds a long-term issuer rating of “A-” by GCR Ratings and “A” by Agusto & Co. reflecting strong cash flows and market dominance. These ratings are supported by the Company’s well-established market niche, diverse product portfolio, stable earnings and cash flows.
George Onafowokan, managing director/CEO, Coleman Technical Industries Limited projects that the Company is on track to become a multi-trillion-naira enterprise, with over 50 percent of revenue coming from exports.
Plans are underway for a $100 million Fibre Optic Cable Drawing Tower, which will allow the company to draw its own glass fibre in-country.
Coleman Technical Industries Limited, a 100 percent indigenously owned private limited liability company established on July 1, 1975 has recently solidified its position as a powerhouse in the African manufacturing landscape.
Marking its 50th anniversary in 2025, the Company has transitioned from a local cable manufacturer to a regional leader in high-tech digital and energy infrastructure.
The Company’s primary focus is the manufacturing of electrical wires and cables that meet international standards for various industries such as power, oil and gas, real estate and infrastructure.
Read also: Coleman launches fibre optic cable factory to power Nigeria’s digital economy
Africa’s largest fibre optic factory…
In October 2025, Coleman commissioned a landmark facility in Sagamu, Ogun State. The plant has an annual production capacity of 9 million kilometres of fibre optic cables, making it the largest in Africa.
It is designed to meet 50 percent of Africa’s total demand for fibre optic cables, significantly reducing the continent’s reliance on imports. The facility includes Africa’s first Fibre-Reinforced Plastic (FRP) production line, a critical component for cable durability and strength.
Expansion into Smelting & Backward Integration…
To combat foreign exchange volatility and raw material shortages, Coleman has aggressively pursued backward integration. The Company completed a continuous casting copper and aluminium smelter plant in Sagamu.
Strategic Partnerships & Awards…
The company secured a $65 million annual contract (running through 2027) to supply various cables for the Nigeria LNG Limited (NLNG) Train 7 project. It has also partnered with the Federal Government and American firm Corning Inc. to train 5,000 young Nigerians in fibre handling and splicing.
