Africa state oil company lands $3.3 billion loan – Upstream Online

NNPC syndicated crude oil prepayment facility aims to ease Nigeria’s foreign exchange problems
Nigeria’s state oil company has secured access to a groundbreaking $3.3 billion syndicated crude oil prepayment facility, arranged by the African Export-Import Bank (Afreximbank).
The facility aims to support Nigeria’s long-term economic stability, ease access to import financing for raw materials and essential goods, while also supporting industrialisation and trade development efforts.
West Africa’s economic powerhouse is mired in a foreign exchange crisis after the government lifted trading restrictions on the naira.
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