…Ratings from Agusto & Co. with Stable Outlook
By Christie U. Omonigho
Energy Window International (Media) – Falcon Corporation Limited, described as one of Nigeria’s leading indigenous gas companies says it has received an “A” long-term and “A1” short-term corporate credit rating “with a stable outlook” from Agusto & Co., Pan African’s foremost credit rating agency.
The ratings according to Agusto & Co., were reflections of Falcon’s strong financial position, underpinned by sustained gas demand driven by industrialisation, growing domestic power generation needs, and energy transition pressures, within the company’s exclusive distribution rights in designated franchise areas.
The ratings were also in recognition of the company’s strong, sustainable operating cash flow, supported by favourable terms of trade and long-term gas supply contracts with industrial and commercial customers.
Audrey Joe-Ezigbo, Chief Executive Officer of Falcon Corporation Limited, in her comments on this feat said, “This rating affirms the resilience of our business model, the strength of our operations, and the clarity of our long-term strategy. For over three decades, Falcon has remained committed to developing gas infrastructure that supports Nigeria’s industrial growth, energy security, and environmental stewardship. We are pleased that Agusto & Co.’s assessment reflects the discipline, expertise, consistency, strategic foresight, and strong governance frameworks that define our approach to delivering value.”
Also adding on the subject was Nelson Walter, Chief Financial Officer of Falcon Corporation Limited who said: “We continue to uphold a disciplined financial strategy, prioritising the development of a robust balance sheet that supports our sustainable growth ambitions. Our investments are strategically targeted to optimise asset utilisation, broaden revenue streams, and strengthen long-term financial stability. This rating underscores the confidence in our financial leadership and growth outlook.”
Emphasising, Engr. Chibueze Ekeocha, Chief Technical Officer of the Company, said that the rating highlighted the Company’s technical leadership and operational excellence.
“This recognition” he says, “validates Falcon’s outstanding technical capabilities, uncompromising commitment to excellence, and the deep expertise within our management and engineering teams. Our operations are shaped by internationally recognized best practices and are further strengthened by our ISO 9001:2015 Quality Management System, ISO 14001:2015 Environmental Management System, and ISO 45001:2018 Occupational Health and Safety Management System certifications.”
Falcon Corporation according to its email statement, operates a 25 million standard cubic feet per day (MMSCF/D) gas distribution network within the Ikorodu Natural Gas Distribution Zone in the Southwest region, supplying over 21 industrial and commercial customers, and has even expanded its footprint into the Liquefied Petroleum Gas (LPG) subsector through trading, distribution, and storage infrastructure investments.
Falcon Corporation Limited says that since its establishment in 1999, it has maintained its leadership role as an indigenous energy company, with operations spread across Nigeria’s midstream and downstream sectors. It said it has been the “Licensed Local Distribution Company” responsible for building and operating gas infrastructure to supply Natural Gas to industrial and commercial clients in Ikorodu, Lagos State. It said that it has also diversified into the Liquefied Petroleum Gas (LPG) subsector through trading, distribution, and major infrastructure investments, including an LPG Tank Farm and Jetty facility.
Falcon says it is part of Optimera Energy, a consortium executing a 20-year Gas Infrastructure Development Project with the Lagos Free Zone Company, to develop and operate a gas distribution network to serve businesses within the Zone. It is a world-class, values-driven, and customer-centric energy company, committed to delivering innovative and reliable solutions through operational excellence, strong partnerships, and responsible environmental and community stewardship, creating sustainable long-term value for all stakeholders, Falcon said.