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Home » Blog » Breaking: Relief For The Naira: NNPC Ltd Secures $3billion Emergency Crude Repayment Loan from AFREXIM Bank

Breaking: Relief For The Naira: NNPC Ltd Secures $3billion Emergency Crude Repayment Loan from AFREXIM Bank

Breaking: Relief For The Naira: NNPC Ltd Secures $3billion Emergency Crude Repayment Loan from AFREXIM Bank

August 16, 2023August 16, 2023 0

The Nigerian National Petroleum Corporation (NNPC) Limited has secured a $3 billion crude repayment loan to support the naira and stabilise the foreign exchange market.

NNPC Limited secured the funding from the AFRIEXIM bank headquarters in Cairo.

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.

Dunmola

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