Nestoil group clarifies recent reports, reaffirms operational stability

The Nestoil Group has addressed recent media reports regarding certain enforcement actions and the status of its corporate assets. 

The company has assured stakeholders, partners, and the general public that the matter in question is purely commercial, currently before competent courts, and being handled through appropriate legal and regulatory channels.

According to the statement by its Corporate Communications Department (CCD), the Group said it is fully aware of the reports circulating in sections of the media and has maintained open and constructive engagement with all relevant authorities and financial partners. 

Nestoil reaffirmed that these engagements are progressing positively and expressed confidence that the processes underway will culminate in a fair and lasting resolution that reflects its long-standing commitment to integrity, compliance, and accountability.

Emphasising its operational stability, the company stated that all its business lines remain 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.Reiterating the Group’s corporate ethos, the release underscored that Nestoil’s identity is built on a legacy of resilience, professionalism, and service to national development. For over three decades, Nestoil has stood at the forefront of Nigeria’s indigenous participation in the energy and infrastructure sectors, pioneering complex engineering projects and contributing significantly to the country’s industrial 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.

Nestoil also moved to reassure its stakeholders that it remains financially sound and strategically focused despite recent reports. The Group reiterated its unwavering confidence in Nigeria’s institutions and the rule of law, noting that it will continue to engage with all stakeholders in good faith and in accordance with due process.

 The statement called for responsible reporting and public restraint, urging the media and general public to rely only on verified information issued directly by Nestoil Group. 

It pledged that the company would continue to provide timely updates as appropriate, in the spirit of transparency and accountability.

The Group reassured its stakeholders, partners, and the wider public that it remains strong and stable, adding: “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.”

Nestoil group clarifies recent reports, reaffirms operational stability - The Nation Newspaper