Axxela Achieves 10 Million LTI-Free Manhours and Dual Credit Rating Milestones

Axxela Limited, Nigeria's leading gas infrastructure company, has celebrated achieving 10 million Lost Time Injury (LTI)-free manhours across its operations. This significant safety milestone was achieved while the company also secured recognition from two of Nigeria’s foremost credit rating agencies, underscoring its operational excellence, financial strength, and disciplined growth strategy. These achievements reinforce Axxela’s position as one of the country’s most resilient energy infrastructure companies. Global Credit Ratings (GCR) upgraded Axxela’s national scale long-term issuer rating to A+(NG), while Agusto & Co. affirmed the company’s Aa- Long-Term Rating and assigned an A1+ Short-Term Rating. The agencies cited Axxela’s robust business model, strong earnings performance, resilient cash generation, and sustained financial profile as key drivers for these ratings. Group Chief Executive Officer of Axxela, Moshood Olajide, stated that these milestones reflect the company’s deliberate and consistent approach to building a resilient business. "These recognitions are a strong endorsement of the choices we have made over the years," Olajide said. "Beyond validating our financial strength, they reflect the resilience of our business model, confidence in our strategic direction and our ability to consistently deliver value to stakeholders." He added that as the company expands critical gas infrastructure and strengthens its operational footprint, it remains disciplined in capital deployment, customer service, and long-term value creation. The combined achievements of 10 million LTI-free manhours and the dual credit rating milestones solidify Axxela’s reputation as a leading gas infrastructure provider committed to operational excellence, financial resilience, and responsible growth in Nigeria and across Africa.

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These recognitions are a strong endorsement of the choices we have made over the years. Beyond validating our financial strength, they reflect the resilience of our business model, confidence in our strategic direction and our ability to consistently deliver value to stakeholders.