Cardinal Torch Company, a Nigerian agro-commodity trader, has launched a N10 billion commercial paper offer, part of a N30 billion programme arranged by FSDH Capital, as it seeks to fuel rapid growth in the country’s evolving agricultural export sector.
The company, founded in March 2020, moves cocoa, sesame, cashew, and soybean from Nigerian farms to buyers in Dubai, Jakarta, Kuala Lumpur, Antwerp, and Rotterdam. Its integrated business model, with warehousing, logistics, and processing, has driven revenue growth of 110 percent annually since 2022.
Its financials show revenue of N13.93 billion in 2025, with profit after tax crossing N1 billion. The commercial paper offer, open until July 16, reflects a broader shift among Nigerian agro-industrial firms towards capital markets to fund growth.
By voluntarily submitting to credit ratings, audits, and investor scrutiny, Cardinal Torch aims to build a lasting institution, tapping into Nigeria’s growing capital markets to support its expansion.
Growth
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