HomeBusinessNNPC secures $3 billion emergency crude oil repayment loan

NNPC secures $3 billion emergency crude oil repayment loan

Date:

Related stories

Dollar to Naira Exchange Rate: November 22, 2024

Dollar to Naira Exchange Rate news on Daily News 24 If...

Senate approves Tinubu’s $2.2bn loan request

The Nigerian Senate has approved President Bola Tinubu's request...

Dollar to Naira Exchange Rate: November 21, 2024

Dollar to Naira Exchange Rate news on Daily News 24 If...

Bashir El-Rufai, mother clash over presidency’s attack on Obasanjo

Bashir El-Rufai, son of former Kaduna State Governor Nasir...

Dollar to Naira Exchange Rate: November 20, 2024

Dollar to Naira Exchange Rate news on Daily News 24 If...
spot_img

The Nigeria National petroleum cooperation (NNPC) Limited has secured a $3 billion emergency crude oil repayment loan from the AFREXIM Bank.

Through a post via it’s official handle on X formerly known as twitter @NNPCgroup stated that ” The NNPC Ltd. and @afreximbank have jointly signed a commitment letter and Termsheet for an emergency $3billion crude oil repayment loan”

The loan signing which took place place at the bank’s headquarters in Cairo, Egypt are expected to provide immediate disbursement, supporting NNPC Ltd. in its mission to aid the Federal Government’s ongoing fiscal and monetary policy reforms.

The statement reads in part, “The NNPC Ltd. and @afreximbank have jointly signed a commitment letter and Termsheet for an emergency $3billion crude oil repayment loan.

“The signing, which took place today at the bank’s headquarters in Cairo, Egypt, will provide some immediate disbursement that will enable the NNPC Ltd. to support the Federal Government in its ongoing fiscal and monetary policy reforms aimed at stabilizing the exchange rate market.”

Subscribe

Latest stories

LEAVE A REPLY

Please enter your comment!
Please enter your name here