Zeenab Foods Limited has announced the launch of a ₦10 billion Series 4 Commercial Paper under its ₦20 billion Commercial Paper Programme, a strategic move to strengthen its financial base and support its growing operations in the agro-processing and export sector. The offer is currently open for subscription and will close on May 28, 2025.
Founded in 2011, Zeenab Foods has built a reputation as a key player in Nigeria’s agriculture value chain. The company operates across three main business segments: rice milling, export of processed agro-commodities, and food supply contracts for international donor agencies.
Zeenab’s rice milling facility, located in the Federal Capital Territory, currently processes 120 metric tonnes of paddy rice per day and runs at an average annual utilization of 84%. The company has set its sights on doubling this capacity by 2025, in a bid to meet rising local demand and capture a larger share of the domestic rice market.
On the export front, Zeenab trades a variety of high-demand Nigerian agro-products such as dried split ginger, sesame seeds, cashew nuts, cassava chips, and gum arabic. These products are exported to markets including China and other parts of Asia. The company has also recently commissioned a liaison office in Lagos to further drive export volumes.
In the humanitarian space, Zeenab is a trusted supplier to agencies such as the United Nations World Food Programme (UN WFP), providing essential staples including beans, sorghum, millet, and maize for aid projects across the continent.
To sustain its operations, the company sources raw materials directly from farmers and aggregators, adding value through local processing at its two factories in Abuja and Kano.
In 2022, the Federal Government appointed Zeenab as the official operator of the Nigerian Export Trade House in China—a move that further solidified its status as a top-tier exporter.
The Series 4 Commercial Paper issuance is aimed at meeting the company’s short-term funding needs, particularly for the procurement of paddy rice and other agro-commodities. According to the company, the proceeds will enhance its ability to scale production, expand exports, and maintain steady supply to donor organizations.
Zeenab Foods says the capital raise is part of a broader strategy to improve financial flexibility and reinforce its competitive edge in the agro-processing industry.
With this latest move, the company is positioning itself as a major contributor to Nigeria’s food security goals and a key player in the country’s non-oil export drive.
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