United Nigeria Airlines to Issue ₦20 Billion Commercial Paper

United Nigeria Airlines Company Limited plans to issue commercial paper, marking its debut as a domestic operator in this financial instrument. The first tranche of the issuance is set at ₦20 billion.

The airline's September 2026 investor presentation detailed its financial strategy, including the issuance of commercial paper in two series with tenors of 270 days and 364 days.

This issuance is part of the airline’s ₦100 billion commercial paper programme, aimed at enhancing its financial stability and supporting expansion across domestic, regional, and international routes.

United Nigeria Airlines has received investment grade ratings from two agencies, with DataPro assigning short-term and long-term ratings of A1 and BBB.