Falcon Corporation Limited, an indigenous Nigerian gas distribution company, has secured an “A” long-term and “A1” short-term corporate credit rating from Agusto & Co., with a stable outlook.
Agusto & Co. said the ratings reflect Falcon’s strong financial fundamentals, supported by sustained demand for gas driven by Nigeria’s industrialisation push, increasing domestic power generation needs, and ongoing energy transition pressures. The agency also noted that the company’s exclusive gas distribution rights within designated franchise areas strengthen its market position.
The rating agency further highlighted Falcon’s steady and sustainable operating cash flow, attributing this to favourable trading terms and long-term gas supply agreements with industrial and commercial customers.
Reacting to the development, Falcon’s Chief Executive Officer, Audrey Joe-Ezigbo, described the rating as a validation of the company’s business resilience and strategic direction.
“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,” she said.
Falcon’s Chief Financial Officer, Nelson Walter, said the company remains focused on maintaining financial discipline and strengthening its balance sheet to support expansion and long-term stability.
“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,” he stated.
On his part, the company’s Chief Technical Officer, Engr. Chibueze Ekeocha, said the rating also underscores Falcon’s technical competence and operational excellence, noting that its operations align with international best practices.
He added that Falcon’s processes are reinforced by key certifications, including ISO 9001:2015 for Quality Management, ISO 14001:2015 for Environmental Management, and ISO 45001:2018 for Occupational Health and Safety Management Systems.
Falcon currently operates a 25 million standard cubic feet per day (MMSCF/D) gas distribution network within the Ikorodu Natural Gas Distribution Zone, supplying more than 21 industrial and commercial customers. The company has also expanded into the Liquefied Petroleum Gas (LPG) segment through investments in trading, distribution, and storage infrastructure.
