NNPCL Secures Three Billion Dollar Emergency Crude Oil Repayment Loan To Stabilise Naira
Written by Olarotimi Oshin on August 16, 2023
The NNPC Limited on Wednesday disclosed that it has signed a Commitment Letter and Term Sheet with AfreximBank for an emergency three billion dollar crude oil repayment loan.
The company said the agreement was jointly signed by both parties at the bank’s headquarters in Cairo, Egypt.
NNPC Limited, in a statement made available to newsmen explained that the loan “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.
