Economic Council approves $4.5b crude oil backed loan refinance for NNPC
According to the report, Finance Minister, Taiwo Oyedele, told the NEC that the new terms of the facility were more favourable than the original facility, with pledged crude oil volumes cut 12.3 billion oil-backed pre-export finance facility through a new $4.5 billion outstanding under the original 2023 deal while unlocking an additional $3 billion in liquidity, the report said.
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